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Message: Am I the only one watching today?

Hart....last time the loan was ammended it required a vote.  But to be completely frank I'm not sure under which circumstances a vote would be required....when the loan agreement was first ammended in March of 2013 there wasn't a vote because:

Resverlogix is exempted from formal valuation and minority approval requirements of applicable securities laws on the basis that neither the fair market value of, nor the fair market value of the consideration for, the transaction, insofar as it involves Eastern, exceeds 25% of Resverlogix's market capitalization.

The next time it was amended in July of 2014 a vote was held:

The closing of the Amendment will be subject to, among other things, customary closing conditions for a transaction of this nature and shareholder approval of the majority of the votes cast by the shareholders of Resverlogix, excluding Eastern, at a special meeting of the shareholders of Resverlogix to be held on August 13, 2014 (the "Meeting"). 

So would another be required....I don't think we can say definitively one way or another until after the fact....Do they ammend this loan?  Do they negotiate a separated loan agreement, using the proceeds to satisfy the loan coming due on Aug 28? 

Lots of questions to be answered...and if they aren't answered at all and the loan comes due with the company unable to satisfy its obligation....then Eastern gets the store.

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