RE: For your knowledge - Shareholders RightsDoes anyone know, offhand, (perhaps one of the more knowledgeable posters here,who have been in contact with the BCSC), whether the shareholders of RGZ have an irrefutable right to vote for a slate of directors? I suspect that we do not, based on the potential option of 'appointment' as referenced in Section 122 of the Act(quoted below). Thanks for posting that Tempone!
Succeeding directors
122 (1) Directors, other than the first directors of a company who are in their first term of office, must be elected or appointed in accordance with this Act and with the memorandum and articles of the company.
In other words, does anyone know if the memorandum and articles of our little company provide for the 'appointment' of succeeding directors as opposed to what I should think would normally be a clear right of shareholders to vote them in or out? I suspect that these folks may have well researched(this time) and covered themselves in denying us this election option(as it appears to be to their personal advantage). Even though it appears that they are within their legal rights, it is just seems to be another example of incredible arrogance & possibly a fear of retribution( being voted out) on their part - jmvho. If there is some other rationale, I would like to hear it from them or one of their supporters.
I also didn't see (in the statute)any specific shareholder rights to vote in/out directors, but that was based only on a cursory viewing of the Act, so it looks to me, like all may be in compliance with the law, which in one way is good for us in that there shouldn't be any more interference by the BCSC. Too bad that our management didn't pay as close attention to the requirements of NI 43-101 reporting, many,many months ago, otherwise we may still have been trading and actually be operating a viable junior exploration business, capable of raising money and advancing our two properties. While hopeful, I am less optimistic because RGZ now has zero credibility following such a long period of Ceased Trading, and should we actually start trading in the absence of some astounding news, our shareprice will plummet as everyone will want to lock in a capital loss as opposed to being in limbo forever( a change in my point of view from a previous poll taken).
I wish all shareholders the best outcome possible.