Aphria Inc. APHA

CAN SOMEONE MAKE SENSE OF THIS PLS! THEIR INTENTIONS!

[Humanist]

Tilray board of directors announce approval of amendement to company’s bylaw; aphria and tilray announce WAIVER OF CHARTER OF AMENDMENT PROPOSAL REQUIREMENT
 
Apr 16, 2021 • 10:55 AM EDT
 
BY MICHAEL BERGER
 

Tilray, Inc. (NASDAQ: TLRY), a global pioneer in cannabis research, cultivation, production, and distribution, today announced that the Tilray board of directors approved an amendment to the Company’s bylaws to reduce the quorum requirement for shareholder meetings from shareholders representing a majority of the voting power of the outstanding shares entitled to vote to one-third of the voting power of the outstanding shares entitled to vote.

In connection with the proposed business combination between Aphria Inc. and Tilray, Aphria and Tilray have each agreed to waive the mutual condition precedent to the consummation of the Transaction that Tilray amend its amended and restated certificate of incorporation (the “ Charter Amendment Proposal ”) in the event that the Charter Amendment Proposal is not approved by the Tilray stockholders at the Tilray special meeting scheduled for April 30 at 11:00 a.m. Eastern time (the “ Tilray Special Meeting ”).

All Tilray stockholders are encouraged to have their voices heard in regard to the Transaction, regardless of the number of shares held. Tilray stockholders who have not already voted, or wish to change their vote, are strongly encouraged to do so. Tilray stockholders who held shares as of the March 12, 2021 record date are eligible to vote those shares at the Tilray Special Meeting.

Tilray stockholders who have already voted do not need to recast their votes. Proxies previously submitted will be voted at the reconvened meeting unless properly revoked.

If Tilray stockholders have questions or need additional information regarding the Transaction, Tilray stockholders are encouraged to contact Tilray’s shareholder communications advisor and proxy solicitation agent, Mackenzie Partners, Inc. by toll-free at 1-800-322-2885 or by e-mail at [e-mail] .

 

[CommonCentsforDollars]

I think before I had read they required 51% of all shares voted on. Now they have ammended the companies charter requirement to 33% of all shares need to be voted on. That is my take on it.  Brendan alone holds over 8% of TLRY  shares. They can probably get this passed on just Tilray's insider ownership alone. This deal is going through.

[Humanist]

based on what you said common, it could also mean that  there were some resistance to the deal possibly, and that's why thy're amending the voting process! thus the delay of the voting date! i hope that's what it's. right after i saw that  apha bounced back up as if some people feeling more comfortable that the deal will go through now! just guessing glta

[CommonCentsforDollars]

Analyst: "This means the required quorum for the shareholder meeting to happen has been reduced from 50%+1 of shareholders to 33%. I would say this isn't common. Tilray may have been concerned that they wouldn't get the minimum quorum for the meeting to happen. I think that's because their shareholder base is composed of too many retail investors, which creates volatility since