OTCPK:NNDIF - Post by User
Post by
schocoron Jan 09, 2023 12:28pm
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Post# 35211348
Termination Payment of $2.1M to Glencore?!?
Termination Payment of $2.1M to Glencore?!?There is a $2.1M termination clause negotiated into the contract?!? It is payable to Glencore if this deal falls through for any reason.....for example if unit holders reject it becasue it is a garbage deal.
So to re-cap, Glencore's hand picked board has approved a crappy deal to Glencore. AND, if the crappy deal falls through FOR ANY REASON, GLENCORE'S HANDPICKED BOARD NEGOTIATED A $2.1m SETTLEMENT TO GLENCORE!!! Are yuo kidding me?
This is why we need independant directors on the board. EVen when they attempt to buy us out, they use thier handpicked board to provide Glencore a golden parachute. UNbelievable.
Reject the deal on Feb 28th. Elect new directors on March 28th