RE: McEwen speaks again-read and act -RE: McEwen speaks again-read and act -
HERE'S WHAT ALL SHAREHOLDERS CAN DO
If you want to prevent further erosion of your fundamental rights
and ultimately the value of your investment,
you must speak up NOW!
You can make a difference! Your voice should be heard.
Contact your broker, your mutual fund manager,
the Toronto Stock Exchange, NYSE, your respective provincial securities commission, or the SEC (Securities and Exchange Commission). Call the newspapers, talk to radio and
TV business commentators and get the word out on the web
that you want Goldcorp shareholders to have a vote because
you want to protect the value of your investments in
Canadian public companies.
For full details visit my website
https://www.robmcewen.com..
Gold is Money!
"Robert R. McEwen"
Thanks Robert, You are very good for all Long Shareholders -
the problem is that the banksters 666 run Can. to 99% -
the banksters run the Tv programs, the news media,
the courts, the judges, the gov., the 666 etc.
the same group run Can. and the Christians 888 runs about 1%!!!
the Christians have lost 99% power to the 666 owg. -
lost about all but 1% -
its no Shareholders association doing anything for
the minority Shareholders! -
its no Real Estate Association - doing anything when the 666 -
want to steal any property from You! -
the gov. 666 doing what ever they want to You 99% is in their 666 power -
if You are a Christians You have lost 99% of the past power -
its no sec.com doing anything for mionority shareholders! -
they all doing 99% all for the banksters -
the hedgefunds short selling Can. removing fiats offshore etc. -
the banksters naked short selling all small caps etc. -
the 666 call all small caps risky -
for they have a destroying machine 666 -
illegal nss naked short selling machine -
the judges are part of the 666 machines -
the banksters are 99% anti-Christian, anti-US & anti-Can. -
the same gypsy group since 2000 years to wipe out 99% of Christians -
nothing has changed !!! -
Thanks McEwen You must be 100% Christian -
Thanks Father that we still one small IT media left 1%??? -
thanks that we still have some bread left -
the 666 has still has to remove 1% to gypsy away -
God Bless Christ The Lord -
https://www.888c.com/
McEwen Capital: Open Letter to All Shareholders of
All Canadian Public Companies -
Re: The Price of Silence, More Shareholder Abuse -
TORONTO, ONTARIO -- (MARKET WIRE) -- October 30, 2006 --
The purpose of my letter is three-fold.
First, alert you to a large potential risk to the value of your investments;
second, urge you to speak out and ensure this risk is avoided;
and third, show how your actions can correct a fundamental flaw
in the Canadian securities regulations that allows management
to circumvent your essential shareholder rights.
Recently I have been in the news battling the Board and
Management of Goldcorp Inc. for the right of all its shareholders
to have a vote on the proposed $8.6 billion transaction with
Glamis Gold.
Many shareholders agree with me (28 million shares have been pledged in favor) that Goldcorp should give a vote on this transaction
because it would require Goldcorp to issue shares representing
67% of its outstanding equity.
Indeed, in most developed markets a vote would be required
when dilution of this magnitude is proposed.
Far Reaching Implications
On first impression, this fight may appear as merely a struggle between the founder and former CEO of Goldcorp and the
incumbent CEO, which does not warrant intervention and
public comment. However, this is definitely not the case.
It is very important to understand the implications of issues
now before the Court. Depending on what the Appeal Court decides,
the law will definitely change and it may diminish the involvement
of shareowners in future mergers and acquisitions in Canada.
For your background, on October 20th I went to the Ontario Superior Court requesting a vote for Goldcorp shareholders. Four days later, the Court denied my request. This Wednesday, November 1st I will be back in court appealing the decision. Although I have the greatest respect for our Courts, I believe the Judge did not adequately
address my specific concerns with regard to Section 182 of
the Ontario Business Corporations Act.
I ask you to look at the important and far reaching implications
of a Court decision to 1) Deny a Vote; or 2) Require a Vote.
Court Denies a Vote
It will set a dangerous precedent. It will encourage legal
advisors to recommend transaction structures that only require
the acquired company's shareholders, the ones being paid
a premium, to have a vote.
Shareholders of the acquiring company will have no information,
no right to vote, no right to dissent, no way to protect
their investment. It will allow management teams and boards
to ignore the wishes of their shareholders.
A decision to deny a vote will strip investors in
Canadian public companies of their fundamental rights
associated with ownership.
The rules of the Toronto Stock Exchange do not prevent
massive dilution and thus do not conform to international
standards, where a shareholder vote would be required for
share issuances greater than 20-25%.
Court Requires a Vote
Yes it will give a vote to Goldcorp shareholders and that decision will set an important legal precedent. It will stop the erosion
of shareowners' rights by clever legal advisors.
No longer will they be able to craft the type of complicated
corporate transactions that deny the fundamental voting rights
of shareholders.
Also, a court ruling requiring a vote for Goldcorp shareholders
should cause the Toronto Stock Exchange and our provincial
securities commissions to enact regulatory changes that
follow international good corporate governance standards.
This would address a major flaw in shareholder protection,
which is currently present in the Canadian equity markets.
Surprising Silence of Governance Experts
Throughout this process I have been very surprised and
disappointed by the absolute silence of the organizations
that claim to be protecting shareholders'
interests and promoting good corporate governance.
The Goldcorp/Glamis situation seems to be just the type
of circumstance where these groups say a vote is required.
Is this a case of all talk and no action?
Is their mandate really just another tax on shareholders' wealth?
Aside from the important public statement from
the Ontario Teachers' Pension Plan requesting a Goldcorp vote,
every other corporate governance organization in Canada and
the United States has remained mute.
Astonishing Number of Advisors
Take a wild guess at the number of advisors, legal and financial,
that the Goldcorp and Glamis felt were needed to complete
this transaction without a Goldcorp shareholder vote.
Does hiring 8 investment dealers and engaging 13 law firms
sound excessive?
The Goldcorp/Glamis transaction was brilliantly designed to
remove all uncertainty, particularly bothersome
Goldcorp shareholders.
A large part of the investment community was effectively
silenced while the legion of lawyers worked to ensure no
legal impediments stood in the way.
HERE'S WHAT ALL SHAREHOLDERS CAN DO
If you want to prevent further erosion of your fundamental
rights and ultimately the value of your investment, you must
speak up NOW!
You can make a difference! Your voice should be heard.
Contact your broker, your mutual fund manager, the Toronto Stock Exchange, NYSE, your respective provincial securities commission,
or the SEC (Securities and Exchange Commission).
Call the newspapers, talk to radio and TV business commentators
and get the word out on the web that you want Goldcorp
shareholders to have a vote because you want to protect
the value of your investments in Canadian public companies.
For full details visit my website https://www.robmcewen.com.
Gold is Money!
"Robert R. McEwen"