OTCPK:NOSOF - Post by User
Comment by
SLAMDOGon Mar 03, 2022 3:41pm
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Post# 34480500
RE:Vote No?
RE:Vote No? Yes it's a win win and thats exactly why you should vote NO. Don't elect to retain your shares if you want the 1.10 and you think the arrangement will pass.
Wyloo may or may not get enough shares for a squeeze out, but that won't matter if the arrangement agreement doesn't go through. If it isn't approved, Noront goes back to doing business as usual and the stock will likely stay the same or go higher and you will retain your shares in the company.
If the arrangement does pass, you will get the 1.10 unless you elected to retain your shares. In that case, you either get squeezed out for 1.10 (if Wyloo get's 80% or higher share count) or you hang on to your shares at market prices. If the later happens, there is a risk the stock may go down, but that is what you risk by electing to keep your shares. By not electing to keep your shares you have a guaranteed 1.10 coming your way OR you get to keep your shares if the arrangement is not approved. It's only a win win if you vote NO!
It's deceiving the way they put it in the special meeting summary. It states that "you don't need to make any election and need only submit the letter of transmittal to receive cash consideration". They say 'not needed', although you can perfectly well vote. They only want you not to vote or to tender your shares asap, so that control is assured by Wyloo.