TSXV:LRT.UN - Post by User
Post by
SCVALINVESTORon Dec 29, 2021 5:48pm
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Post# 34269163
Reason given for deferring the meeting is curious
Reason given for deferring the meeting is curiousI'm no lawyer, but the reason for deferring the meeting is strange:... "the challenge of facilitating the participation of Debenture holders during the holiday season" The circular was mailed out in late November, well before any holiday season and the meeting is virtual, so no-one had to go to Winnipaeg to cast a vote.
If they didn't get a quorum (25%), that is a legitimate reason to defer a meeting, but why not say so? If they got a quorum, but failed to get a 66.66% vote in favour of the deal , then there would be a temptation to defer the meeting to see if they can drum up more positive votes in the intervening weeks.
Not sure this happpened, but it would be like running an election, secretly checking the ballots, not liking the outcome and announcing that the ballot boxes will be held open for a few more days while you chase down more supporters.