Post by
Simplelife on Feb 13, 2024 6:28pm
Takeover question
Hey Doug reading through information on Lme I understand that has been at least 1 offer over the market price in the past which was unsatisfactory thus didn't go anywhere. What is the criteria nessessary for shareholders to have be involved in the voting process? Can Lme management basically say no to everything they find unacceptable and unless they say maybe then we vote on things? Enlighten me on what are the prerequisites for shareholders to be involved in the voting process?
thanks
simplelife
Comment by
DouglasGVass on Feb 13, 2024 8:00pm
I am unaware of any offer that was presented in the past and I believe this is an unfounded rumour. Any written offer presented to the company must be announced to all shareholders via a PR. I don't know what the voting process looks like but at some point after an announcment there would be a vote.
Comment by
Thebluestroy on Feb 14, 2024 9:09am
Yes, wish they used a small amount of cash on a monthly basis for things like this instead of obnoxious amounts of options. It seems like they are helping out large investors/friends more than anything and I mean no disrespect to Steve or Doug. Just don't think its necessary at all.
Comment by
BidingTime on Feb 14, 2024 9:39am
...the remainder of my question - otherwise, should shareholders expect that the evaluation/negotiation of a specific transaction is ongoing. Thank you, and again, welcome to your new role.
Comment by
DouglasGVass on Feb 14, 2024 11:36am
The Special Committee and arrangement with USCG are still in place and remain active. The exit strategy of the company has not changed. Buyouts of junior exploration companies are very complex and do not happen "overnight." Be patient and trust the process.
Comment by
fatlas on Feb 14, 2024 12:06pm
Thank you for the clarification Doug - much appreciated. We were lucky to have Steve and now lucky to have you - I hope my comment and question did not come off as negative or aggressive - just wanted to point out what I thought was discrepancy before people saw it and misinterpreted it. keep up the good work!
Comment by
DouglasGVass on Feb 13, 2024 9:06pm
Great info DAM$. Thank you for sharing!