Noranda Income Fund Unit NNDIF

Metals & Mining Industrial Metals & Minerals

Noranda Income Fund is a Canadian based income trust. The fund owns the electrolytic zinc processing facility and ancillary assets located in Salaberry-de-Valleyfield, Quebec. It produces refined zinc metal and by-products from sourced zinc concentrates. The fund's long-term objective is to maximize unitholder value and provide monthly distributions to unitholders.

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Noranda Income Fund Unit > I am Guessing Higher Offer - Any Guess as to New Bid

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Comment by ZincDinkon Feb 14, 2023 9:35pm

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Post# 35286532

RE:RE:RE:RE:RE:RE:I am Guessing Higher Offer - Any Guess as to New Bid

There are about 37 M priority units (our shares) and 12 M ordinary (GC shares). The way I interpreted is that GC first must convert ordinary shares and obtain 10 percent of priority shares where they can then elect 7 of the 8 directors.

Seems like the independent directors are GC flunkies anyway so we may as well say they elect the board.

Not sure what rules are about warning if more than 10 percent of shares aquired when already bidding for the company.

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