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Itafos Inc V.IFOS

Alternate Symbol(s):  MBCF

Itafos Inc. is a phosphate and specialty fertilizer company. Its businesses and projects include Conda, Arraias, Farim, Santana and Araxa. Conda is a vertically integrated phosphate fertilizer business located in Idaho, United States with a production capacity of over 550 Kiloton (kt) per year of mono ammonium phosphate (MAP), merchant grade phosphoric acid (MGA) and ammonium polyphosphate (APP), and approximately 27kt per year of hydrofluorosilicic acid (HFSA). Arraias is a vertically integrated phosphate fertilizer business located in Tocantins, Brazil with a production capacity of approximately 500kt per year of single superphosphate (SSP) and SSP with micronutrients (SSP+). Farim is a phosphate mine project located in Farim, Guinea-Bissau. Santana is a vertically integrated high-grade phosphate mine and fertilizer plant project located in Para, Brazil. Araxa is a vertically integrated rare earth element and niobium mine and extraction plant project located in Minas Gerais, Brazil.


TSXV:IFOS - Post by User

Bullboard Posts
Post by northcoaston Jun 27, 2015 6:55am
197 Views
Post# 23873725

voting

voting
I know Deutsche Bank is in charge of the process to ensure MBAC pays its debts effectively, however if there is more than one viable offer on the table then management weighs in as the decider. Now if some differ on a buyou versus a joint venture then this upcoming vote may influence the decision. Perhaps this AGM will have more bearing on the final decision than most of us thought. Most of the shareholders thought that the company would be bought out by now, so not a lot of thought has gone into the vote. I woul like to know more about the candidates and their individual views on the debt resolution. Also it has occurred to me that some might want to be voted out so that they can claim their compensation. For example Melcher and Pinto would get a good payout if terminated without cause and this could offset some of their loses. All I am saying is that they could gain if voted out. Many had no intention of voting. I don't know which way to vote. If anyone has advice please state it. I am considering attending the AGM, but I don't know how it will help. The lack of pertinent information disables one's effective vote. But our payout could be riding on this vote. Certain deluded management team could be resisting a tasty buyout offer hoping to make more in the long-term with a JV. The problem with that is that long-term will be very, very long.
Bullboard Posts