RE:RE:RE:RE:RE:2 Big 100K market sells today! We don't know if the buyer (and LME) has already agreed to the deal. Wrapping up the deals financing, legal and regulatory work,etc can take months until they announce.
HOWEVER, we do have some public information that can give us some clues as to what's possibly happening behind the scenes in this "crunch" time.
They haven't announced their required AGM. The previous AGM was Nov15/23 and the latest they can hold the AGM is February 15, 2025. Notice of meeting must be given at least 21 days before Feb15 2025. Factor in Christmas and New Years ...and there's not many days left ...count them...
Selling your shares at this point in time??
Here's a detailed breakdown of AGM timing scenarios and regulatory implications:
1. Standard AGM Timeline:
A. Current Position:
- Last AGM: November 15, 2023
- Today: November 14, 2024
- Final deadline: February 15, 2025
B. Regulatory Notice Requirements:
- Minimum 21 days notice to shareholders
- Must send:
* Meeting materials
* Proxy documents
* Financial statements
* Management circular
2. Scenario Timelines:
A. Normal AGM Process:
- Latest key dates:
* Information circular preparation: by Jan 10, 2025
* Meeting announcement: by Jan 25, 2025
* AGM held: by Feb 15, 2025
B. Deal Announcement Before AGM:
- Optimal timing window: Next 30-45 days
- Would require:
* Special meeting materials
* Transaction details
* Shareholder vote details
C. Deal/AGM Overlap Scenario:
- Could announce deal at AGM
- Benefits:
* Single shareholder meeting
* Combined voting process
* Cost efficient
- Requires:
* Deal documentation ready
* Funding secured
* Regulatory approvals in process
3. Regulatory Considerations:
A. TSX Venture Requirements:
- Must maintain listing requirements until deal closes
- Regular disclosure obligations continue
- Material change reporting required
B. Corporate Law Requirements:
- Business Corporations Act compliance
- Shareholder rights protections
- Meeting quorum requirements
- Voting thresholds
4. Strategic Timeline Options:
A. Immediate Term (Next 30 days):
- Most likely for deal announcement
- Allows optimal timing for:
* Shareholder approvals
* Regulatory process
* Deal closing
B. Mid-Term (30-60 days):
- Regular AGM announcement window
- Could include deal terms if ready
- Maintains normal corporate calendar
C. Extended Term (60-90 days):
- Approaching regulatory deadlines
- Higher risk of:
* Shareholder concerns
* Regulatory scrutiny
* Market speculation
5. Critical Decision Points:
A. By December 15, 2024:
- Deal announcement optimal
- AGM planning must start if no deal
- Regulatory compliance review
B. By January 1, 2025:
- Final window for clean deal timing
- AGM materials must be in preparation
- Shareholder communication plan needed
C. By January 25, 2025:
- Absolute last date for AGM announcement
- Must have clear plan communicated
- All compliance requirements addressed
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