Sherritt International Corp T.S

Does the name Mark Plamondon ring a bell for anyone?

[Aililia]

In accordance with the bylaws of Sherritt, Seablinc Canada Inc. (an affiliate of SC2) has nominated Mark Plamondon for election as a director of Sherritt at the annual meeting of shareholders of Sherritt to be held on May 9, 2024.

Stockwatch

[Nickbull]

They will need to nominate Mark from the floor at the annual general and him to accept. They will need to take enough proxies to the meeting as well to carry the vote. This has turned into a proxy battle and SC2 will have to get moving if they want any chance of success. Sherritt has already sent out their solicitation for proxies and have the head start.   I encourage anyone with

[rkhosla]

so i asked casey mckenzie (sc2 president) if they were mailling out an 'alternate proxy' - ie there own alternate slate.  In their case kick one off the island and insert mark.  Casey was unclear on this.  Normally, if the dissident has time and the money, they would mail you their alternate slate.

[rkhosla]

*their.  Stupid voice dictation.  

[Nickbull]

Ideally they would send out their own proxy form for clarity. in the event they don't or to be sure they have your proxy one could put Casey's name as the appointee on the proxy form from the Sherritt circular, leaving the voting selection's blank and send it to him. The only thing  I do not see on the proxy form is how many shares it is for. I would assume they have that

[rkhosla]

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[Nickbull]

Thanks rkhosla

[autofocus111]

Unless sc2 spells out what they think current management is doing wrong and what strategy changes they propose I see no reason to vote for anyone they put forward. 

[rkhosla]

[rkhosla]

Oops - sorry for empty message.  Autofocus it just has the appearance they put this together at the last second. For example issuing an amendment within 24 hours of the initial tender. However I do not think that means their motives are bad per se or not aligned with common shareholders. But you are right. We need to know more.  If the present board is failing to deliver value then I

[Sanguinity]

Nothing here for my little handful I have left. The "if the present board is failing to deliver value" is pretty much a given at this point.  The only thing they've successfully delivered is massive paycheques to the undeserving.

[Nickbull]

I think it should be clear to all on the fact that this board has failed employees and shareholders alike. there is no reason in my mind why the NDCC would more than double other than incompetence and mismanagement. The fact that the board still pads their pockets should be enough to pursuede people to ask for change. You cannot double your cost of doing business and show nothing in the way of

[Sanguinity]

Very well said.

[Nickbull]

I am sure that SC2 is aware but context for affected share holders. On average there are 100 mil shared voted in any given year. The 2 contentious years of 2015 and 2018 there was 167 and 148 million shares voted. for them to be confident they will need 50-60 mil in proxies assuming they also reach their 21 mil in tendered shares. This is a huge challenge and will be very interesting how it plays