TSXV:LRT.UN - Post by User
Comment by
alkhoron Jun 07, 2022 6:07pm
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Post# 34738559
RE:Vote against reverse split and management
RE:Vote against reverse split and managementquicksilver545 wrote: I strongly urge others to use their proxies and vote against the reverse split. It is an attempt minimize the sharecount so they can dilute existing shareholders and previous debentureholders on a capital raise. The proposed 500 to 1 spilit will mean there will be only 1 million shares or so trading.
VOTE NO.
That is what I have been saying for months. I am surprised at a 500:1 consolidation as I thought a 10:1 would have been right and allow the units to trade, 100:1 would have been their long term goal of stealing the REIT, but 500:1 is total highway robbery. As you said, vote against the consolidation unless they change the commitment to 1:10 instead of the vague consolidation they have now (change to whatever they wish as long as the consolidation is approved). Approval of the consolidation vote means you will get nothing.
BTW quicksilver545, at 5% ownwership you can try to demand a place on the board.