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Turquoise Hill Resources Ltd. T.TRQ

Turquoise Hill Resources Ltd is a global mining company that primarily mines copper, gold, and coal in the Asia-Pacific region. The company holds a 66% interest in Oyu Tolgoi, one of the world's largest copper-gold-silver mines, which ships concentrate to customers in China. Oyu Tolgoi is located in the South Gobi region of Mongolia, approximately 550 km south of the capital, Ulaanbaatar, and 80 km north of the Mongolia-China border. The company also holds interests in companies that mine...


TSX:TRQ - Post by User

Comment by Countrygenton Nov 08, 2022 4:44pm
212 Views
Post# 35083441

RE:OSC Response

RE:OSC Response
Why is our Special Committee not taking the lead and withdrawing their recommendation in support.  Their first duty is to the minority shareholders.  They are supposed to be independent.  This bid is now poisoned.  Not rocket science here.  Does anybody in the world have a moral compass these days?  Cancel the meeting.  Cancel the vote, Rio has tampered with a legal vote and meeting.  My opinion only.

Skip - your experience shows exactly why the talks with the regulator go nowhere in curing the fundamental problem that there has now been established a scheme for variable compensation and the vote is materially altered - it would have failed, now it might pass, and all shareholders should have the analysis and recommendation of the Special Committee in hand prior to voting, taking into account that tow major shareholders intend to abstain ...  surely that is offside as a collateral scheme of compensation.  The the dissent remedy is no substitute to all other shareholders for an ordely legal takeover bid in accordance with legislation and regulation.  I mean really, what should happen is nice try Rio, try again.  Your "that is our last and best offer" carries very little weight - what were the first two offers supposed to be ... sucker offers?  TRQ ought to have let the vote proceed in the first place and forced a no vote by Pentwater and Sailingstone.  They knew it.

cg





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