Es gibt Neuigkeiten bezüglich Canagold. Der große institutionelle Aktionärsvertreter bzw Servicedienstleister in Bezug auf Abstimmungen bei Hauptversammlungen hat sich überraschend auf die Seite des Dissidenten gestellt und empfiehlt für diesen zu stimmen.
Der Grund dafür ist hier in mehreren Punkten aufgestellt. Normalerweise wird eher für das Managment eine Empfehlung ausgesprochen bezüglich dem Abstimmungsverhalten.
Heißt für mich das da doch was dran sein muss an den Vorwürfen. Bin gespannt wie die Sache ausgehen wird.
In its full report, ISS affirmed Sun Valley's case for urgent change at Canagold and that "the situation at CCM reflects a reality that the status quo has been poor enough that change is warranted":
"The length of time over which [the New Polaris Project] has gone on appears to be far beyond the norm" - "the company has been unable to complete a feasibility study for New Polaris in 28 years; although the company has retained a financial advisor, it has not disclosed a timetable to produce a feasibility study which the board and management can be held accountable for; the long-term trend in value for the company's shares is downward";
Canagold's rejection of a premium financing offer is "somewhat puzzling" - "As the company's cash balance was US$824,000 on March 31, 2022, a financing will most likely need to be completed this year to at least keep the company running";
"The financing opportunity presented by the dissident seems to be on terms that are as good or better than the financings the company has generally participated in historically";
By voting FOR Sun Valley's candidates, it would "deliver shareholder value by completing an appropriately sized capital raise, a feasibility study, and advancing the permitting process of New Polaris so that a mine may be built - things that have not occurred under the stewardship of the current board during the company's entire existence";
ISS agrees that the unjustified increase in executive compensation goes against good governance as "the company does not provide rationale for increasing cash awards in this manner, particularly without disclosed performance criteria in the case of annual bonuses, at a time when it is running out of cash".
Furthermore, ISS questions whether Mr. Bradford Cooke would have "sufficient time, resources, and incentives" to be operating in the best interests of all shareholders of CCM due to Mr. Cooke's significant role at Endeavour Silver Corp. as a result of "Endeavour's size, its increased complexity as a much larger producer, the fact Cooke maintained a CEO role (now executive chairman), and the quantum of compensation Cooke is receiving from Endeavour".
Vote the BLUE proxy
We urge Canagold shareholders to vote ONLY the BLUE proxy FOR all three of Sun Valley's highly-experienced, independent nominees - Dr. Carmen Letton, Ms. Sofia Bianchi and Mr. Andrew Trow in advance of the proxy voting deadline of Thursday, July 14, 2022 at 5:00 p.m. ET. If you have questions or need help voting, contact Kingsdale Advisors at 1-888-213-0093 or at contactus@kingsdaleadvisors.com.
www.minenportal.de/artikel/...leyund039s-BLUE-Proxy-Card.html
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