Electronic Cigarettes International Group Ltd fka ECIGQ

[Delf]

Proxy Vote: Preferred Shares

I was just reviewing the proxy materials for the Special meeting of shareholders.
Having reviewed the documents, and thinking about this further, I am going to vote Yes to the R/S, but No for the preferred.
I need some communication from the board about the rationale for the Preferreds.
There is a statement in the materials submitted that deals with avoidance of a takeover as a rationale for the R/S and modest increase in the O/S, but this doesn't seem reasonable as a rationale for preferred.
Management needs to convince us on the need for this, or one might consider this could lead to further R/S and increase in OS at the boards discretion.
Otherwise I vote Yes to #1, and No to #2.