Thanks to all who participated in the Annual Meeting!Many thanks to those who either attended the Annual Meeting virtually or sent in questions. I believe they received and answered the largest number of questions at a Torstar Annual Meeting! There were close to 30 questions asked at the meeting.
While Management "bob and weaved" around many questions, they did confirm being receptive to strategic alternatives for Torstar. My personal feeling is that to be eligible for continued government handouts, Torstar should be proactive in initiating discussions around strategic alternatives to reduce costs, improving operational efficiency, etc, like, going private, merging, etc.
Boynton did not express any concern about giving shareholders liquidity for their stock if Torstar gets delisted by the TSX in 2021. Management could at least do everything they can to develop relationships with key Class B shareholders, who would be the likely buyers of stock. This is quite an arrogant attitude, in my opinion!
During Q&A period, they "bob and weaved" around a question on how they are developing relationships with class B shareholders and did not give a reason why they have not invited any class B shareholders on the Board for thought leadership. They simply said it is a decision of the Board.
Can one of you answer the following question? If management does not pay a dividend going forward, must Class B shareholders wait until the May, 2022 Annual Meeting to vote or can a special meeting be arranged at an earlier quarter end? Heaven help us if we have to wait the better part of two years to get professional management in-place!
Greybeard