I read most of the SEDAR document you suggested.We don't have material proof that they have exercised any of their privileges yet,but they have certainly made it plainly clear that the common shareholders can like it or leave it. I found only the, "incentive options ",to be in line with my suggestions. A 5 year vesting period ,with an option price,a minimum 110% above the share price the day the option is granted. This actually ,is decent,other than the fact that the price is artificially low ,imo. I think it should be 110% above what they inferred the price should open at ,post merger.
The problem is ,How many OTHER kinds of options will be given. Shareholders seem to have no say in,really anything,concerning the options.
I've contacted the Ontario Securities Commission and have explained some of my objections. They are very helpful but insist we realize the difference between Securities Law and Corporate Law. Corporate Law is where a lot of my objections lay,however...
If disgruntled USGIF shareholders want to thoroughly search for Management not following guidance of the OSC ,we should carefully read documents on the OSC web page.
Go to
1.Securities Laws &Instruments
2. Instruments,Rules & Policies
3. Take-Over Bids and Special Transactions
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