GREY:GUYFF - Post by User
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casinoon Jan 02, 2019 3:31pm
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Post# 29178535
Finally
Finally | Guyana Goldfields, With Shares Down 68% In 2019, Faces Proxy Battle With Disgruntled Shareholders | | 2019-01-02 03:14:00 PM ET (MT Newswires) | | | |
| | | | 03:14 PM EST, 01/02/2019 (MT Newswires) -- Guyana Goldfields (GUY.TO), whose shares have dropped by more than two thirds over the past 12 months, faces a proxy battle after a group of shareholders on Wednesday requisitioned a special meeting of the company to replace the company's board of directors and put the company up for sale. The dissident shareholders include Northfield Capital, Robert Cudney, Donald Ross, Gretchen Ross and Patrick Sheridan, which together control more than 5% of the company's shares. "The Concerned Shareholders are requesting that the current board of seven that has been responsible for the loss of over CDN$1 billion in shareholder value since 2016 be replaced with six independent, highly-qualified and accountable directors who bring significant mining, operational, public company, financial and legal experience," the group said in a release. "The Concerned Shareholders are also seeking a mandate from shareholders for the new board to establish an ethics committee to guide and ensure the ethical conduct of the company's business, strike a special committee to undertake a strategic review of the company, and engage a leading Canadian bank as financial advisor to assist with such strategic review." The group is requesting a meeting be held by March 12. The company has not yet responded to the request. The company's shares were last seen up $0.10 to $1.70 at last look on the Toronto Stock Exchange. Price: 1.69, Change: +0.09, Percent Change: +5.63 | |