Post by pasacancha on Jul 18, 2008 8:54:17 GMT -5
Question below was posted to management on agoracom. I doubt we will get much more of a response than "we are working on it and cannot comment". My concern is the deadline is approaching very quickly and to be honest I thought this merger would be complete well before the deadline...looks like we may be cutting it close.
These drill results are clearly fantastic, but like many others on this forum, I am curious as to when we will be hearing about our role in the merger. It is now mid July, and, we have been told by management that this merger will be completed by August 31st. For this to happen, management will need approval from all shareholders. That means a proxy of some sort must be mailed out to the shareholders describing what will be occuring and asking for a vote. If my math is correct, there are 6 weeks plus a couple of days between now and the 'supposed' deadline. Letters sent in the regular mail can take anywhere from 2 days to a week to get to a recipient. In addition, the recipient has to mail back the vote. So, right there, you should allow for 2 weeks for logistics. In addition to this, managment will need to take a few days to pour over the results. Say, 1 week.
Management also needs to provide investors some time to mull over the decision (not that it should take very long as it is obvious). So, say 1-2 weeks.
This means that there is logically 5 weeks needed to sort out this merger from an investor's point of view.
My question is, when does management plan to send out the merger documents, with a voting requirement for investor review?
These drill results are clearly fantastic, but like many others on this forum, I am curious as to when we will be hearing about our role in the merger. It is now mid July, and, we have been told by management that this merger will be completed by August 31st. For this to happen, management will need approval from all shareholders. That means a proxy of some sort must be mailed out to the shareholders describing what will be occuring and asking for a vote. If my math is correct, there are 6 weeks plus a couple of days between now and the 'supposed' deadline. Letters sent in the regular mail can take anywhere from 2 days to a week to get to a recipient. In addition, the recipient has to mail back the vote. So, right there, you should allow for 2 weeks for logistics. In addition to this, managment will need to take a few days to pour over the results. Say, 1 week.
Management also needs to provide investors some time to mull over the decision (not that it should take very long as it is obvious). So, say 1-2 weeks.
This means that there is logically 5 weeks needed to sort out this merger from an investor's point of view.
My question is, when does management plan to send out the merger documents, with a voting requirement for investor review?