OTCPK:HBAYF - Post by User
Comment by
Sikongon Dec 02, 2019 10:29pm
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Post# 30415702
RE:Special Committee does not recommend Catalyst Offer
RE:Special Committee does not recommend Catalyst Offer
"The Continuing Shareholders (as defined in the Arrangement Agreement) confirmed to the Special Committee today that they, in their capacity as shareholders, are not interested in any transaction that would result in a sale of their interests in HBC. As the Continuing Shareholders collectively own approximately 57% of the common shares of HBC on an as-converted basis, and the transaction proposed by Catalyst would require approval by at least three-quarters of the votes cast at a meeting of shareholders held to approve the transaction, the opposition of the Continuing Shareholders to the transaction proposed by Catalyst means the transaction is incapable of being completed." Alright, we now have trading opportunities ahead. Keep your eyes open.