Laurion Mineral Exploration Inc. V.LME

The AGM?

[Wizzle]

Hello folks, 

Last year the AGM was delayed and eventually happened in late September.  I know it wasn't what a lot of us were hoping for, but it was curious it was delayed and still a dud.

Have we heard ANYTHING about setting a date for the AGM this year?  Isn't it rather odd that as far as I know a date hasn't even beeen set yet?

[Wmaver]

Not odd, just what is. The last 2 dates were set and announced 2 months before the AGM. With a Dec 28 deadline, and it being Sep 17.  The normal timeline would be Nov 17th to Dec 28th. I don't think they want to host over Christmas. I am betting 3rd week of Nov.

[Wizzle]

but last year the AGM was pushed BACK TO late september right?  That was already later than anticipated?   Why not have the AGM in august? Maybe because the stock was trading so low so they wanted to delay as long as possible? 

[GinoSky]

With there only being a requirement to hold an AGM every 15 months, and the fact it takes a fair bit of time and money to get everything in place for said AGM, it's actually pretty smart for a company to use the most of their window.  This way, you're really only needing to hold 4 AGM's for every 5 years.  

[matlas]

Wanted to hold back, but could not resist. Here's another thought: The 15 months ends Dec 28, 2023. By that time, the BO hopefully will be closed and, presumably, LME is delisted. May not need to have any AGM at all in that case, no?

[Primpage]

This is what I've been thinking for the last month. 

[Wmaver]

Aug 22nd I asked Steve about agm. He said it was in process. https://stockhouse.com/companies/bullboard?symbol=v.lme&postid=35600293

[KaBams]

I know last year folks were thinks the buyout announcement would be done at AGM. I don't think that would be possible, or stars would have to align just right. Since once the buyer makes the offer firm it become material information and there is time lines of how and when it must be made public. I doubt a buyer with all they are working on would care about Lme's AGM  but this

[fatlas]

I believe there are a lot of steps in between someone expressing interest in acquiring a public company and making an offer that needs to go to the shareholders for a vote. I don't know exactly what they are - but they are absolutely known to the people involved in either side of an acquisition - and with them being known - assuming the parties are working well towards a deal - I would say

[KaBams]

I am not denying anything you said fatlas. I guess I left out in my stmt offer is made then accepted. Then is it material and I believe must be release based on osc rules. they cannot sit on till AGM.

[ahsineeg]

The offer has NOT been accepted: 1-until it gets the thumbs up and a positive "fairness opinion" from the special committee financial advisor which they engaged on August 23, 2023 AND THEN 2- it goes to the board of directors to be voted on.  (note: the board of directors has most likely also engaged their own financial advisor to provide a fairness opinion on the deal). To

[StevenHunter]

Hello LME folks! Someone mentioned that I'm a CFA, to be clear I am not.  I have piles of securities licenses and 25 years in IIROC/CIRO but never took the CFA route. On the AGM, I want to impress upon everyone how procedural and red tape heavy that process is.  I thought it was pretty much setting up a Zoom meeting before I got a look at how prepping for one actually works. 

[Wmaver]

Steve you are a wonderful Human! Although i am shattered that my Theory is unlikely, Happy to have you on the Comment board!

[Not2smart]

Last thing I’m thinking about is the AGM. I do t even think there will be one.    I’m thinking about a BO hopefully soon.   The BO does not have to be announced at the AGM  it can be announced to tomorrow, the next day or next week etc. 

[Wmaver]

well its not about the announcment AT the agm... it is if you have to mail out a few thousand pieces of papers....  why not do it once instead of twice! in my perfect world, where dreams come true.... AGM is annoucned for Nov 23, and then a buyout is announced, oh let pick somewhere between Sep 23 and Nov 1st (has to be 21 days before AGM),  Oct 23rd for fun. then the AGM mailout

[fatlas]

Bingo Bango Private Island?!? love it!!!