RE:RE:annual meeting
Concerning notice of AGM - A Form of Proxy should be filed within the next 2-3 weeks, and we shall see if this is, as in the past, the standard election of directors, auditors, with the continuance, and approval of Options, and RSU's for those of the corporate team.
If this AGM is necessitated without any no new developments that need approval by shareholders, then the underlying reason IMO for this earlier than normal AGM is for the approval of those Options, and RSU's for management.
A bit about Integra's Options & RSU's - Options shall not exceed 10% of the total number of issued and outstanding shares, on a non-diluted basis.
With the substantial increase of Integra's outstanding shares thus far this year, through an earlier $15M bought deal, Eldorado's PP to maintain their 15% toehold, and warrants being exercised, management allotment of options have now increase proportionately.
Within the option guidelines it states that if a change of control occurs, or if the Corporation is subject to a take-over bid, all shares subject to stock options shall immediately become vested, and may thereupon be exercised in whole or in part by the option holder. The Board may also accelerate the expiry date of outstanding stock options in connection with a take-over bid.
RSU's are more a less a freebie for management, they are paid through the company treasury, (they do have to pay taxes on their profits), and are allowed to offer up to 10,000,000 shares per year, which are usually paid out at 25% every 6 months, but in the event of a change of control, then all Restricted Share Rights outstanding will vest immediately.
Again if this AGM is of only what has been in the past, then the passage needed by shareholders for the early issuance of those Options, and RSU's to management, would be IMO why the earlier than normal meeting this year, and I would view July/August as when we will hear a more comprehensible NR from management of what the future of the Lamaque project will hold for shareholders going forward after management has allocated to themselves those added options and RSU's before/if a deal is made.
Side Note - Great news on the No 4 Plug - The use (as Goldex) of low cost bulk mining methods - Higher grade than that at Goldex - By the way, AEM is looking to fill a 2000 tpd shortfall at their Goldex mill a stones throw away. GLTA