TSXV:CCD - Post Discussion
Post by
Time4change on Apr 29, 2024 5:24pm
CCD the next SMY! You gotta wonder.
Reasons for calling meeting
The concerned shareholders have worked diligently over the past nine months to communicate with shareholders and counter the in action of the current board. A board which consistently fails to meet its obligations, has no plans to advance the company's prospects and has destroyed shareholder value and confidence. Without an annual general meeting since May 25, 2022, the company's two remaining directors, George Molyviatis and Jocelyn Bennett, can no longer ignore shareholders, hold their rights in contempt, or continue this unwarranted destruction of the company and shareholder value. The concerned shareholders continued to call on Mr. Molyviatis and Ms. Bennett to immediately resign as directors and appoint a new board. Their demonstrated record of incompetence, and continued non-compliance in the exercise of their fiduciary duties and responsibilities is uncalled for, and well beyond the expected behaviour for a board overseeing a publicly traded company in Canada.
Despite the concerned shareholders repeated attempts to engage with the incumbent board, the facts remain:
- On April 8, 2024, the British Columbia Securities Commission ceased traded Search for failure to file its annual audited financial statements and management's discussion and analysis for the year ended Nov. 30, 2023.
- Search's common shares have been halted since Dec. 19, 2023, pending a review of its compliance with TSX Venture Exchange requirements.
- As late as Nov. 30, 2023, directors Ms. Bennett and Mr. Molyviatis were facing serious allegations of fraudulent misrepresentation in British Columbia and were subject to a criminal investigation in Switzerland on charges of misappropriation of investors' funds, criminal mismanagement and fraud.
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