KingsdaleWith this post I'm going to make a direct appeal to other shareholders here.
Though this is not a huge issue, it has periodically irked me a bit that, prior to each AGM, for some years, Quarterhill has retained Kingsdale to solicit shareholder votes. The issue is apparently that there is a danger that there will not be enough votes cast to reach quorum. If that were to happen it would become an expensive hassle.
Many small companies have one or two BIG shareholders. Get them to vote and there is no quorum problem.
Not so with Quarterhill. Their shareholder base is relatively fragmented.
The company has told me that the cost of retaining Kingsdale is not huge. My guess would be $50,000 to $100,000.
But it's still a meaningful expense.
My view? Not only is it better to cut out an expense like that if you can but, also, I'd say having to run to Kingsdale each year does not reflect well on the company. This is hardly a perfect metaphor but, well, if I have to go out to a dress-up gathering, I suppose I could hire a consultant to do my tie. They would probably do a better job than I could do myself. But . . . I still think I should be able to just do my own tie.
My appeal to other shareholders. If you agree with what I'm saying here (and you're willing to commit to support management) then send an email to Dave Mason telling him how many shares you can speak for. Put Kingsdale in the subject line. He'll understand. I suspect quite a few people here have quite a few shares. If the total can get to a big enough number then perhaps they'll agree that--with a bit of outreach to institutional holders--the company can save Kingsdale's fee.
Indeed, even if you were to plan to vote against management, the key question is whether enough votes will be cast to reach quorum. Regardless, I doubt Kingsdale would be able to talk anyone into changing their vote from a NO to a YES. (Or the reverse, for that matter.)
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Oh, and uh, speaking of expensive hassles? Christopolous? If you're still around? Please consider not inserting motions? You're currently rolling in Supremex money. Be happy and give Quarterhill a little time, eh? Or find better ways to communicate your concerns?