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TELESTA THERAPEUTICS INC T.TST

"Telesta Therapeutics Inc is a biopharmaceutical company. The Company is engaged in the research, development, manufacturing and commercialization of human health products and technologies."


TSX:TST - Post by User

Post by RetailRubeon Aug 02, 2013 1:00pm
420 Views
Post# 21646791

2013 AGM Voting Rules are Different

2013 AGM Voting Rules are DifferentVoting at the November 2013 AGM will be interesting because, according to TSX rules starting in 2013, Bioniche is required to have each Board member name appear on the ballot individually.  Slate voting for the Board, which Bioniche used in November 2012, is prohibited.

That means we could get the odd result that all of the existing Board members win the election except for McRae.  McRae would vote for himself with his 8m shares, but more people might vote for Wells or someone else among the dissident directors.  Then McRae would lose because it is majority voting that decides when more people run for the Board than there are positions available, even if the ballot says "for vs withhold".

So you could vote for the sale of Animal Health by voting for most of the existing Board, but still vote against McRae and oust him from the Board.  Cool!
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