A Statement from Rob McEwen Re: Immediate Appeal To Goldcorp-Glamis Court Ruling.TORONTO -- The following is a statement from Robert McEwen There are several men named Robert McEwen, including:
While I respect the decision of Madam Justice Pepall of the Ontario Superior Court, I remain adamant that shareholders are being denied their fundamental right to vote on the Goldcorp-Glamis Plan of Arrangement and that serious corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. issues remain. Having carefully reviewed the Court's decision with my legal advisors, I will continue to seek more options to access the rights of Goldcorp shareholders. The Court's ruling on the legal issue I raised does not change the questionable governance exhibited by Goldcorp's Board. They are disregarding their own published governance pledge to respect substance over form. I have the support of more than 1250 shareholders owning 27.4 million shares (+6.6%) who agree that they should have the right to vote. I have instructed my legal counsel to immediately file a Notice of Appeal seeking an expedited appeal to the Court's ruling. Goldcorp and Glamis are being issued letters requesting that they do not conclude the deal before the appeal Court can have its say. There is still time for the appeal to be heard before the December 31st deadline set by Goldcorp and Glamis. A copy of the Court's ruling is being sent to the Ontario Securities Commission The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. , the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and the British Columbia Securities Commission The British Columbia Securities Commission (BCSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of British Columbia. External links
From the outset I believed it would be difficult for any individual shareholder to fight a corporation and its Board for ones rights. I am continuing to ask for the support of all Goldcorp shareholders, who feel as I do, to voice your opinion and help us get a vote. I wish to express my sincere thanks to all the Goldcorp shareholders who have supported my efforts to secure a vote on this ill-conceived merger. I would also like to extend a special thanks to the Ontario Teachers' Pension Plan The Ontario Teachers' Pension Plan (OTPP), commonly referred to as Teachers', is the organization responsible for administering pensions for public school teachers of Ontario. The OTPP also invests the plan's pension fund. for publicly voicing its concerns over Goldcorp's denial of our right to vote. I will continue to be an advocate for improved corporate governance in Canada. It is a shame that Canadian standards fall short of those in the U.S. and other developed capital markets. I say to Goldcorp and its Board of Directors, there is still time to live up to the standards set by the NYSE NYSE See: New York Stock Exchange and Goldcorp's own pronouncements on governance. Give Goldcorp shareholders the information they need and the right to vote on this important transaction. Sincerely, (signed) Rob McEwen Rob McEwen is Chairman and CEO of US Gold Corporation and Lexam Explorations and was the founder and former Chairman and CEO of Goldcorp, which is the world’s lowest cost million ounce gold producer. Goldcorp Shareholder To express your support, please visit www.robmcewen.com/support/ and fill out a support form and send it back! |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion