Eagle Energy Inc EGRGF

Advisory firms

[whodathunkit]

Unlike some would have you believe, apparently ISS and Glass Lewis are considered two leading proxy advisory firms..................................................................vote yellow.


Proxy Advisory Firms Recommend Approval of ONEOK's and ONEOK Partners' Proposed Merger Transaction
OKE, OKS | 5 hours ago
PR Newswire
TULSA, Okla., June 22, 2017
TULSA, Okla., June 22, 2017 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) and ONEOK Partners, L.P. (NYSE: OKS) today announced that two leading proxy advisory firms, Institutional Shareholder Services (ISS) and Glass Lewis & Co., have recommended votes in favor of the proposed merger transaction between ONEOK and ONEOK Partners.   
Under the proposed merger transaction announced Feb. 1, 2017, ONEOK will acquire all of the outstanding common units of ONEOK Partners it does not already own.
A special committee of the ONEOK board of directors, the ONEOK Partners conflicts committee and the ONEOK Partners board of directors have each unanimously approved the merger agreement, and shareholder and unitholder voting related to the transaction is currently underway. Separate special meetings of ONEOK shareholders and ONEOK Partners unitholders will be held at 9 a.m. CDT and 10 a.m. CDT, respectively, on June 30, 2017, to vote on the proposed merger transaction. Shareholders and unitholders of record at the close of business May 19, 2017, are entitled to vote at their respective special meeting.
"The support of these two leading advisory firms underscores the value this transaction is expected to provide to both ONEOK shareholders and ONEOK Partners unitholders," said Terry K. Spencer, president and chief executive officer of ONEOK and ONEOK Partners.

Read more at https://www.stockhouse.com/news/press-releases/2017/06/22/proxy-advisory-firms-recommend-approval-of-oneok-s-and-oneok-partners-proposed#R3EK0SwpMqKSECXH.99


Cheers.

[gvixid]

Both ISS and Glass Lewis have a strong bias toward incumbent board members. With Eagle, both firms lay out the exact same problems identified by the Challengers, cite the need for change, and then conclude that only one board member should be replaced. Does that make any sense to you? Their conclusions here are not credible. The ultimate issue here is DEBT. It is what destroys junior oil companies

[whodathunkit]

And you base your statement on what, insider knowledge of how these firms work, or just your opinion?  They are in business to provide opinion on proxy voting.  If they are bias they won't be in business very long.  Regarding the debt issue, if the change of leadership triggers a default and therefore immediate repayment of the current debt, how much of Eagle will be left? Yes,

[Scottie99]

This post has been removed in accordance with Community Policy

[whodathunkit]

I base my statements on the facts that are presented, not on wishes and dreams about what might happen in the future.  The facts seem to be: There is a covenant in the loan that says if the board changes then the loan immediately becomes due.  The concerned shareholders offered to buy some assets at a below market price some time ago. Expenses have been excessive and management has

[Scottie99]

This post has been removed in accordance with Community Policy

[lenumero66]

I actually had some discussion with Dan about this: You can look at the SEDAR posting: Section 8. 01 (m) Change of Control. There occurs a Change of Control; Is one of the condition of default. So White Oak does have the option to call the loan immediately. Dan's response: We are well aware of the loan agreement change of control provisions, and it was investigated in detail before we

[whodathunkit]

From ISS report: In its report dated June 14, 2017, ISS gave the following reasons why shareholders should NOT vote for the dissidents' blue proxy (emphasis added): -- Given that control of the board is being sought, the dissidents' disclosed business plan does not appear to provide any new detailed long-term strategic initiatives. -- While the proposed board reconstitution might trigger