TSX:CUS.DB.D - Post by User
Post by
phoenix_traderon Sep 26, 2016 6:54pm
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Post# 25279960
25% holders rattling the cage
25% holders rattling the cageBut PR's say 5% holders, some ones fibbing........................Since Chemtrade's initial proposal on Sept. 13, 2016, Canexus shareholders have publicly urged the Canexus board to engage with Chemtrade. One of these shareholders stated that its view was shared by shareholders representing over 25 per cent of the outstanding common shares. On Sept. 21, 2016, a shareholder owning over 9 per cent of the outstanding common shares requisitioned a special meeting of shareholders to replace the current members of the Canexus board with five new individuals. "We are disappointed that the Canexus board continues to refuse to engage with us. Only a year ago the board determined that a sale of Canexus was in the best interests of Canexus and its shareholders," said Mark Davis, president and CEO of Chemtrade. "We encourage the Canexus board to engage in constructive discussions with Chemtrade so that shareholders can benefit from the opportunity to receive fair value and liquidity in a fully funded all-cash transaction."