Post by
HLDpropmngr on Mar 21, 2006 11:38am
Thoughts
Michael Levine did in fact resign. I have no idea why it's not posted at SEDI, but it is easily confirmed by calling our law firm. Also note that all the issues surrounding the offer were handled by an independent committee headed up by CA Matthew Ross, so even if the former directors hadn't resigned they would not have been involved.
My understanding is that the financial statements are finished but that the 'Management Discussion & Analysis' must be posted at the same time. That is in process. Hopefully everything will be posted at www.sedar.com today or tomorrow.
I think that this whole exercise proves that HLD will need to pay directors far more than $500 per quarter to serve on the Board in the future. Given the personal attacks and problems a few people are willing to create if they are unsatisfied, we must hope that we can find qualified people to sit on a board without directors and officers insurance. I think we should assume it will cost hundreds of thousands each year in the future to maintain a public listing, or be prepared to lose RRSP eligibility and the ability to buy and sell units. Again, these are just my thoughts.
Michael Thornton
Comment by
fedupwithT on Mar 21, 2006 8:43pm
You really are a piece of work.