Wednesday, June 15, 2016

Wesdome Gold - Is There A Compromise?

Yesterday Wesdome Gold held its Annual Meeting of Shareholders. 

To remind my readers, Resolute Performance Fund, the biggest shareholder in the company, wanted to support the following members of the board: Nadine Miller, Rostislav Raykov, Barry Smith and Rowland Uloth (the company's CEO).

On the other hand, a few days before the meeting the fund sent a message that it was against Duncan Middlemiss, Charles Page and Bill Washington.

Here are the results of the election:

As the table shows, Mr. Washington and Mr. Page were elected as the directors.
Mr. Raykov, supported by Resolute, was not elected.

However, Mr. Middlemiss, although initially undesirable by Resolute, was unexpectedly supported by the Fund.

Well, it looks like the Fund and the company have compromised on some issues. Now I am expecting additional news / comments from the company / Resolute.

By the way, did any of my readers take part in the Meeting?

Additional note:

Wesdome shares went strongly up today (an increase of 15.6% on TSX) on huge volume:


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