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Thursday, July 14, 2022 10:32:48 AM
Not really, read the whole section, those are the guidelines and a shareholder can hold them to them, though it probably would not be helpful, but the provision starts with basically it may not happen, but if it doesn’t basically, this is what and how…
It’s obviously preferred that it be in that time range, but the reality is it doesn’t affect the validity of corporate actions, and they may likely have a perfectly good reason for delay, they might even have a deal pending some series of events yet to unfold, so a shareholder forcing their hand early may just get a peremptory meeting that re-elects board members, and then will add to expenses later when they have to have another proxy or whatever they might need for an anticipated later event.
Regardless, it probably would not really have much impact for anyone to try to force it except that it adds expense.
It’s obviously preferred that it be in that time range, but the reality is it doesn’t affect the validity of corporate actions, and they may likely have a perfectly good reason for delay, they might even have a deal pending some series of events yet to unfold, so a shareholder forcing their hand early may just get a peremptory meeting that re-elects board members, and then will add to expenses later when they have to have another proxy or whatever they might need for an anticipated later event.
Regardless, it probably would not really have much impact for anyone to try to force it except that it adds expense.
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