Management Information CircularGot mine today.
they need a majority of 66 2/3% votes in favour of the Reorganization.
Under Summary:
"The reorganization is comprised of the reduction of Stated Capital and the Share Exchange and other transactions comtemplated by the Amendment of Articles. When effected, the Reorganization will result in the Return of Capital on the Share Exchange. A shareholder will, for each Old Share held receive CAD $0.40 as a Return of Capital when each Old Share is deemed to be exchanged (on the Share Exchange) for one New Share. No new share certificates will be issued and a certificate that evidences Old Shares will be deemed to evidence the shame number of New Shares".
Why is it necessary to issue new share for old shares to receive our cash distribution? Can someone explain this to me? A lot of mumbo jumbo to get a distribution.