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Noranda Income Fund is a Canadian based income trust. The fund owns the electrolytic zinc processing facility and ancillary assets located in Salaberry-de-Valleyfield, Quebec. It produces refined zinc metal and by-products from sourced zinc concentrates. The fund's long-term objective is to maximize unitholder value and provide monthly distributions to unitholders.

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Noranda Income Fund Unit > special meeting info circulat

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Post by schocor on Jan 31, 2023 11:02pm

special meeting info circulat

So i have downloaded a copy if the management circular for the upcoming special meeting in the buyout. Per the management minuites surrounding the buyout (page 22-25):

get this:
1)Glencore independant directors offered to sell the comoany to glencore at 1.42 on nov 22nd

2)independant director vote called for and was announced on Nov 24th by the firestyx/dissident shareholders

3)Independant valuation STARTED on Nov 26 and final note to board provided jan 6 of 2023

seems weird how glencore and the independant board talked sbout this merger for well over a year (per these minuites) but made a binding offer with a break fee TWO DAYS before dissident shareholders tried to take over the board. THEN ordered a valuation.

Stll alot of pages to read....

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