Hello,
I think you are correct.
Would be a shame as I was planning to roll along into the new Noront Company.
But I wonder if I get a chance to "retain" my shares from Europe. Untill now I never received anything for a proxy vote so I guess the shares outside Canada will be difficult to retain :(
But 20% is not a "high" number. A big if idea, but IF Baosteel and BHP chose to retain that's already about 8% ( at least looking at the website of Noront but who is accumulating lately). And I'm sure that there are also other institutes who don't give up easy.
On the other hand I still have a slight hope that one of the big players will show up.
Anyway have a nice weekend!
Regards
Jean