RE:RE:2023 Annual and Special MeetingIt very well could be Tcad and I believe it will be.
My belief is that there will be a deal announced prior to the AGM; it could be part of the circular but not necessarily so. Gillberry and Skippen have already declared they are stepping down from the BoD; there will be at least 2 new board members, probably more. Not to sound like a broken record, but I think it is possible that the Wilan buyer may also be one of the reported mysterious new potential BB buyers. The hold up could they need to wait for the 12-month NDA with Catapult to expire (Catapult may have made the introduction at the aprty may wish to avoid litigation with Catapult's principal. Read
about Acacia/Slingshot at https://www.reedsmith.com/en/perspectives/2021/05/delaware-court-of-chancery-finds-implied-covenant-inferred-from).
Wilan is a business - a well run one as anyone who has listened to peers speak over the past several years will realize. BB is a bunch of patents that need to be managed and monetized. Consolidating Wilan/BB makes a simultaneous acquisition a reasonable speculation from my vantage point.
Other factors to consider:
- A sale of the BB patents will require Canadian government approval. Catapult got that as a result of their financing partner at the time. Wilan provides that to a prospective acquirer of the BB patents; and
- Litigation funders are becoming increasingly anxious about court disclosure of involvement. A deal involving Wilan could be structured to shield private information.
And a wild card...once a Wilan deal is announced, a significant acquisition or merger could be announced shortly thereafter. While eyes have been on the Wilan strategic review since it's a short term event, it's my belief that long term focus for Bret Kidd has been corporate stucturing. While Wilan cash will provide the fuel, structuring is the engine will drive QTRH growth and stock appreciation over the next 5 years.
GLTA