RE: RE: RE: RE: Tips for Mr. Tellier for Feb 9th "ps. I highlighted that last phrase in yellow because that would be a concern to me if it were true. Don't we shareholders have an equal right to such information? Would that not be material?"
Lestat, IMO, the bankers are bound by confidentiality agreements when pertinent information is disclosed. It is in effect insider information. The way I understand the credit facility, YM must disclose expenditures or groupings of expenditures over a certain amount, maybe $10 million (don't know the number for sure). Failure to do so would be in breach of the covenants. I would think what they were planning to do with Canpages would have been disclosed to the bankers ahead of time so they would not be blindsided. The re-organization around Canpages may have implications because there could be leases to disolve, severance packages, etc., which will save them money in near term, could initally cost $10's of millions. Again, it is my opinion and not any specific knowledge of the situation.
It could be 'do it, just tell me when you're going to do it'... something simple as that.
To announce this stuff to the shareholders ahead of time would negate any advantage...