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Bolivar Gold Corporation
Sector: Mining
Challenge: Shortly after announcing a planned
merger with Gold Fields Limited, Bolivar Gold’s largest
shareholder (with 19.9% ownership) voiced its dissatisfaction
with the arrangement and issued a dissident circular to recommend
shareholders vote against the transaction.
Solution: Kingsdale Shareholder Services was
retained to provide proxy solicitation and information agent
services to aid in getting shareholder approval for the contested
transaction. During the solicitation process, Kingsdale discovered
that votes on behalf of institutional shareholders had been
submitted incorrectly. Kingsdale was able to correct these votes
by the proxy deadline. As well, Kingsdale was able to ensure
a significant number of votes had been received by other shareholders.
Result: The transaction received a 76.6% approval
from Bolivar’s Common Shareholders and 82% approval from
Warrant and Option Holders. Kingsdale’s solicitation efforts
resulted in voter submission rates of 95.28% for Bolivar’s
outstanding common shareholders and 81.49% for their outstanding
warrant and option holders. |
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