via Financial Post - Taseko Proxy Battle

The Taseko Proxy Battle would have been easier to carry out should the minority shareholder have bought a majority or larger total ownership position. The strategy was to buy company bonds as a controlling position. But they don't have any directors elected to the board. Notable to the discussion is the decline of metal prices. Presumed that the proxy battle is due to anticipated recovery of metals prices going forward.

As it stands @GBN.V, the larger shareholders probably have a majority position, though very little information is available on the insider position to date. This regulatory requirement is the one area that hasn't been filled, along with other serious gaps, such as unreliable technical filings and a balance sheet rubber-stamped by auditors with an asset-liability mismatch. Will GBN.V undertake a going private transaction?

The difference is that this presumed majority can do whatever they like, but if they have a lock on controlling interest, why not proceed with the public evaluation of the company through the market instead of through an evaluator? I would say the company is labouring under the illusion of control. That they can somehow manage to control the market by taking the company off the market. The glaring, outstanding problem that they have is the poor response in the market of compelling results to date.

The company does say that they will endeavour to maximize shareholder value, but this is a company with no bid under a 0.005 cent share price. They have not endeavoured at any time to maximize shareholder value in a planned scorched earth policy lasting years.

http://business.financialpost.com/investing/investing-pro/taseko-battle-puts-directors-on-hot-seat

http://www.stockwatch.com/Quote/Detail.aspx?symbol=TASEKO&region=C

Search of news articles with 'going-private transaction'

http://bit.ly/1WRvDr2

One company intends to get around the formal valuation requirement in a going private transaction, and how they go about it:

"The Company intends to seek approval from the majority of minority shareholders to comply with requirements of MI 61-101. Because the Company is listed on the TSX Venture Exchange, the Amalgamation will, pursuant to Section 4.4(1)(a) of MI 61-101, be exempt from the formal valuation requirements of MI 61"

Read more at http://www.stockhouse.com/news/press-releases/2016/02/23/symax-announces-going-private-transaction-with-its-principal-shareholders#sAEZsgvttTSxl4dD.99

We are in the fourth quarter of fiscal 2016, which closes at the end if April, the third quarter financial report is due in March.

-F6