Management Sent Selective Proxy Counts For colour, Parkit proxies were sent out on May 13 on behalf of Parkit Enterprise with the form of proxy to vote for the incumbent board.
The dissident officers, Baxter, Bonney and Buckett sent their own form of proxy on May 18 or 19 with a completely new slate of directors in order to take over the company.
Many shareholders were receiving the dissident's yellow proxy form, but not the proper white form. As it turns out:
Proxies - I have discovered what is going on with the mailing discrepancy. In what seems to be an impossible feat, it just gets worse and worse on behalf of management's conduct.
The reason why everyone has not received both forms of proxy with the ability to vote for the incumbent directors or the dissident officer slate is because management mailed those proxies with the incumbent board out to the SMALLEST LOT of shareholders to comply with a proxy vote.
On the other hand, Baxter and the dissident officers sent their form of proxy to what looks like EVERY SHAREHOLDER. I am guessing this is probably 3x the size of the recipients (I haven't had a chance to find the exact number). How can Baxter think he can get away with this???
This is clearly yet another underhanded tactic to have more shareholders only have the ability to vote for Baxter's group, as so many shareholders won't ever receive the proper proxy form to vote in the right board.
Unbelievable. This vote should be cancelled, or delayed. The board is aware of this, so I am sure steps will be taken to make sure the shareholder base has the opportunity to choose which board they would like to vote on. This makes sense now why I was getting calls about the proxies. This conduct has gone so far offside...