RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Who is scooping up all the +/- $0.43 - 0.44 Shares I keep hearing "taking the company private"...
This info may be old or inaccurate but i show this (for taking private):
(Maybe check with the TSX on up to date rules…)
"...Corporations in Canada are generally governed by a provincial or the federal business corporations statutes. In order to undertake certain fundamental changes (which would apply in the case of most going private transactions) a corporation must, for each class of outstanding shares, obtain approval from holders of at least two-thirds of the shares represented in person or by proxy at duly called meeting of shareholders.
In the case of each fundamental change which gives rise to a shareholder vote a corporation is also required to grant each shareholder a dissent or appraisal right.
In addition, under applicable business corporation statutes a shareholder may look to the oppression remedy which provides courts with a laundry list of remedies where the conduct of a target company has been oppressive or unfairly prejudicial to or is unfairly disregards the interests of its shareholders, directors, officers or creditors.”…
The last vote was before their BS proposed share dilution.
Do they really control 2/3 of the voting shares now (61.7 million shares)?
Maybe they had supporters on the last vote (before they tried a BS move (dilution)), but will they today ?
Especially in a deal that would screw everyone ??
If they somehow pull of a "low ball" take private deal then you can guarantee there will be lawsuits,
because collusion would be a given!
&/or every non supporter will likely dissent & see what the market values everything at.
(which by the way the recent $50 mil offer helps with a decent base value especially when they are fighting over it in court). I would also suggest that KaAn’s +/- $1.10 entry price adds support to that base value in court …
Either ALL shareholders get a "fair exit" or KaAn's law suits are just beginning - imo...