RE:What is important here This is just a basic info circular to set a date for when the share ownership is considered with respect to voting at the March 28th meeting. It's the meeting on March 28th that is the important date.
No news should come out on February 21st, because I believe it is the close of market which is the marker for determining of ownership for the vote. IF there is news soon after this time/date, it could possibly happen Wednesday (I think it will be several days later).
There is no onus on the company to release news immediately. If I understand it correctly, the three day settlement period must pass before KWG officially knows who "owns" all the shares as of the official date of record. Therefore, it won't be until after close Friday that they have an official shareholder list. Being a weekend, they probably won't get it until Monday the 27th.
They WILL eventually have to send out information about the agenda/rationale for the meeting on March 28th, to that shareholder list. Presumably, they will want to issue news in a press release before putting packages in the mail to everybody. Since the earliest they can have a mailing list is February 27th, I think it would be sometime early in the week of February 27th through March 1st that we could expect to see the next news release, which tells everyon why a vote is needed at the meeting on March 28th.
There has been a lot of speculation here recently. Perhaps a good topic to actually speculate would be what kind of issue might need a vote on March 28th.
I'll start the list off, by saying that an obvious possibility is a corporate restructuring of shares. Not the 300-for-1, but something else. Maybe, since the words "subordinate" have come out, they need approval to issue a new class of shares, which would probably be a Preferred class instead of common. They could set a higher par value on those shares, and issue them as a large equity offering to a specific entity that wants to buy into KWG. A vote at a special meeting of shareholders is required for a resolution issuing a new class of shares, or any amendment to the articles of incorporation that changes the characteristics of an existing class of shares.
Merely speculation here. Just a guess. Unlike Lou, I don't have a crystal ball.