Re: Multiple Voting _ additions
in response to
by
posted on
Feb 12, 2012 08:36PM
Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%
Hi RJ: what do you want to know? I think it's all there. Our common shares would be converted to single-voting shares, 1:1. Then each of these single-voting shares will bear a right to be exchanged for 1/50th 50-votes, 50X-participating shares (meaning having the very same rights but at 50-times the singles). Shares are inter-changeable between them indefinitely, so to strengten the fact that they are the very same at the end.
The hope of Management is that many single-voting shares will be exchanged for multi-voting shares so that both will be listed for trading, and the Float will be considerably reduced - without the psychological effet that a compulsory Reverse Spilt announcement would have.
Benefits? For the Company: 1- Institutions attractive (SP booster); 2- Float reduction (SP booster). For shareholders: 1- Shares becoming margin accessible (Level effect; funds available); 2- Institutions attractive (more market for shares).
New Special shares created? We only give authority to Management to create them. They are not intended to be listed. They are to be used for private placements purposes, or for future assets acquisitions. I personnally have not the slightest worry whatsoever to give Frank Smeenk and the Board this useful device for increasing value for us in the future.
I will be personnaly there on the 29th to vote my shares FOR all the propositions.
GLTA.
BaBe.