RE:Delisting possible in 100 daysrisky, as a consistent reader of this board, this issue has been addressed by BIGA and several other posters more than once here. Where were you? why do you post it ONCE AGAIN? What is your agenda ?
As BigA posted:
The compliance issue relates to M&P, because M&P is considered a related party. Selling to related parties requires proof from the firm (Tuscany) that shareholders are not getting shafted, basically. Tuscany applied for an exemption and it's running through the TSX now.
Transaction is considered to be a "related party transaction" within the meaning of Multilateral Instrument 61-101 ("MI 61-101"). The Company has relied on the exemptions from the valuation and minority shareholder approval requirements in MI 61-101 contained in sections 5.5(g) and 5.7(1)(e) of MI 61-101 in respect of such requirements.
Tuscany did the transaction, hoping for the exemption. Most firms would likely do things opposite; make sure its okay and then do a transaction. The announcement that everyone is seeing is a standard procedure. Tuscany did something that is not in compliance and TSX must announce it. Then TID shows proof of exemption merits and things are fine.
2) Alternatively, TID can call us (the shareholders) to vote for this deal if TSX has a different opinion (which is very unlikely)..... The majority (if not all) of the shareholders will approve this deal. So this is ANOTHER SECOND way for TID to overcome this delisting thing.
Bear also in mind that TID has also the positive opinion of its financial advisors apart from its own board.....AND there was not another comparative offer at the time of that deal.