Good waste of paper Along with "time" that could sum up this whole Proxy contest.
Unbelievably I received the last Baja letter and yet 2 more GOLD Proxy's at 4:10 pm today by courier no less. That is more than 6 hours after the voting deadline. I know they filed it so I was expecting their letter (and MK's yet to come) but not by courier and if by that method Baja did not get their extra money's worth as it did not make it in time.
Now that we can put what little in-fighting behind and simply wait for the results, what is the best and what are the anticipated results in the minds of posters here?
To me the best result always was and remains pure GOLD. I don't trust MK, before or after this contest and in particular not in the way they conducted themselves during this whole mess, that they initiated. I do thank them for improving some governance matters that were conceeded willingly without the need for this contest. I destes them for the waste of funds, attention and valuable resources though I am pleased that Baja outsourced their campaign to Laurel Hill as opposed to wasting their time. I hope MK loses 95% of the retail vote and doesn't even make it over 40% of the votes cast on Tuesday. I'll conservatively predict that 8% of the eligible voting shares will not have been voted.
If MK was to win anything I hope it is not more than the expansion of the Board and the appointment of Stephen Lehner to the Board. As disfunctional as that may be to the smooth operation of the Board going forward I think some may have voted that way solely on the misconceptions perpetuated by the recommendations of ISS. While I have no faith in ISS' recommendation others I can see giving it some weight. What is totally incorrect is to say that ISS' recommendation was to vote BLUE. It was not! It opposed the removal of Giles Baynham and Gerald Prosalendis from the Board.
My final words on the Proxy battle, now that it has officially ended, is that MK needs a quick wake up call. This could have and should have been negotiated with the existing BOD and not have subjected the Company nor its shareholders through the mud for the past 2 months. Lies and deceit bring only contempt and of that I have plenty right now. Baja's BOD took IMHO the high road, with minor exceptions, and that was mainly by reacting to the wrongful allegations made by MK. In the overall scheme of things I believe being destructive was, and remains, part of MK's game plan here. I hope I am wrong when it comes to the forward thinking component of that last remark.
GLTA.... we may still need some even after Tuesday!