Gear Energy Ltd T.GXE

Stolen dividends

[lovehockey]

Does anyone understand why they stopped dividends in January? If the vote is early February? Will they repay this back? There are so many shady things related to this it is not even ridiculous anymore.

[pierrelebel]

"Does anyone understand why they stopped dividends in January?" The dividend was not STOLEN! As part of the negotiations to sell GXE, the memorandum of understanding included a typical clause (quite normal is such transactions) that no new dividend would be declared or paid until the takeover was either completed and rejected by shareholders. The value of the January dividend - which

[lovehockey]

Thanks for clarifying. My questiin is if the deal is rrjected in February will we get this Jan dividend back later or this is completely gone from shareholders?

[pierrelebel]

The decision de reinstate the dividend will be made by the board of directors if/when the deal is rejected by shareholders. I do not expect the directors to pay a January dividend retroactively.  The money would simply be used to reduce the debt. Either way the shareholders win.

[lovehockey]

Well, doesnt that make it stolen? Myself and many other shareholders were in it for "return to shareholders" in a form of divs or buyback. I never asked them to half the company and judging by responces here nobody else did.