RE:RE:Fair Value of Dissenting SharesThank you.
This dissenting option arising out of the Continuance Resolution can be a very interesting exercise.
For one thing the court may in its discretion appoint one or more appraisers to assist the court to fix a fair value for the shares of the dissenting shareholders.
Secondly, if significant numbers of share holders dissent on Continuance, due to heavy pay out costs, it will be forced to revoke the resolution.
It would seem that dissenting is a much more effective way to kill the continuance resolution .
Lets just say that only 10% of the shares dissent....33 million.
I cannot imagine any fair appraisal less than $0.40 per share.
That amounts to paying out $13 million which they cannot afford to do.
I am going to examine this option in more detail over the weekend , as it is a win win situation ...if the continuance resolution is approved, my shares will be bought back at court appraised fair value .
If the continuance is voted down , that is a win too as it will force management to bring fresh blood into our BOD.
Hopefully, some of our German colleagues holding significant positions will dissent as well