Juva Deal Cancelled - A Win For The Good Guys!... "it is fundamental to the integrity of our capital markets that companies undertaking transactions that will have such a significant impact on the rights and economic interests of their shareholders take whatever steps are necessary in the circumstances to ensure that those shareholders are treated fairly."
..."We acknowledge that it is the directors of" [East West Petroleum] "rather than the shareholders, that are authorized in the Company Act to manage the business and affairs of the company, and thus to transactions of this nature. We also acknowledge that neither the Company Act or the Securities Act require a company obtain the approval of its shareholders before making a take over bid. However, the Securities Act gives us the authority to regulate the capital markets and, in doing so, to make orders in the public intererest. In making such orders, the Commission need not find that there has been a breach of the Act..."
(From British Columbia Securities Commission Decisions, Bradstone Equity Partners Inc., et. al. [Decision], Effective Date: 1998-06-05)