Post by
Ingiboy on Jan 16, 2025 11:39am
What if the Purchase Agreement is not approved ?
Not sure if all the shareholders received the information circular for the AGM to be held today. There is some very interesting reading related to the Purchase Agreement not being approved by the eligible shareholders:
"Registered shareholders have the right to exercise Dissent Rights and to demand payment equal to the fair value of the common shares ...."
"Certain costs related to the Transaction such as legal, accounting and other fees, must be paid by the company (Replicel) even if the Transaction is not completed. The Company is liable for all of its costs incured to date in connection with the Transaction".
According to the information circular there are 73,577,807 common shares outstanding. There are
20,699,472 (28%) common share ineligible to vote. The Purchase Agreement must receive a
66 2/3% approval. Do the math.
Comment by
Bellstoll on Jan 16, 2025 3:20pm
Lord knows, if the sale goes thru I can't claim it as loss. id rather be able to have that happen, then just be in purgatory while they use some legalese to just walk away with the technology. Let it go bankrupt. They messed us over hard enough. Metz, Ingi, good luck boys