RE: Galway AGM is cancelled Great find Chattyc. This is very interesting because according to TSX regulations;
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Annual Meeting
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Sec. 464.
Every company having securities listed on the Exchange must hold its annual meeting of shareholders within six months from the end of its fiscal year, or at such earlier time as is required by applicable legislation.
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Sec. 465.
Where a company wishes to delay its annual meeting beyond the stipulated six-month period, a duly completed Form 9—Request for Extension or Exemption for Financial Reporting/Manual Meeting (Appendix H: Company Reporting Forms) must be filed with Listed Issuer Services well in advance of the prescribed deadline for the meeting. A postponement may be permitted in justifiable circumstances.
Galway fiscal Y/E is Dec 31st. So given the cancellation they must have justifiable circumstances. I've searched for recent annual meeting cancellations/postponements and the reasons I'm finding are:
- receivership: I'm pretty sure this is not the case with Galway
- inability to meet quorum: as per Yellow Media recent cancellation - this is definitely not the case with Galway
- Merger's and Acquisition - seems likely
Perhaps we can all pitch in here and do some more digging - can anyone find or knows of other justifiable reasons for cancelling the annual meeting which may apply to Galway?
If Galway were going to sell just California I don't think that would constitute a justifiable reason for cancelling the annual meeting. That is a decision management should be able to make without any shareholder approval - correct? I think this may indicate that we're being acquired. The recent action in CBJ may be a clue here as Eike would certainly look to acquire them if he owned Galway's Vetas concessions.
The only missing piece of the puzzle is the lack of action in our share price. Doesn't make sense - what are we missing?