RE:RE:Duty of Care, OppressionI guess I'm free to sell in the open market..... but we all know the Preferreds are worth much much more than what they are currently priced at for many reason:
-Covid-19 has had an extra odinary negative impact on share prices, we all know that this is most likely tempoary.
-We all know, market can be irrational and prices change on a dime.
-Terms of the Preferreds, IMHO, entitle the Preferreds to $25
So, selling in the open market is an option, it's not a smart one.
All just my opinion/view/thinking.
RagingBull3 wrote: Although either way it's still a good investment. Cenovus Preferreds or "Husky" Preferreds in a subsidiary...... $25 now is better and it is what is called for by the terms of the Preferreds in my opinion.
And there seems to be Legal Precedence of similar cases.
Again, all just my opinion.
RagingBull3 wrote: I bought into Husky Preferreds, not Cenovus. This Transaction basically Forces me into becoming Cenovus or Forces me to "Dissent" and cash out without knowing what the Compay will pay me.... As I understand. I consider a wholy owned "Husky Subsidiary" to be Cenovus, as I believe Cenovus will be in the Driver Seat.
I see no/little Duty of Care of the company to address their contractual obligations and duty of care to Preferred shareholders relating to contractual terms of the Preferreds.
Preferreds have a contract. They are cummulative, not convertible. They have Terms.
Day to day management of contractual obligations I would assume is Managements (CEOs) responibility and probably the Directors as well in this situation.
All just my opinion/view