Summary
Dissident shareholders SRM Global MasterFund Limited Partnership is trying to oust HudBay's board by trying to persuade shareholders to vote for an entirely new slate of directors that SRM has nominated.
HudBay's newly appointed interim CEO, Colin Benner (former CEO Alan Palmiere suddenly stepped down last Tuesday), held an analysts' call on Monday and members of the slate being advanced by SRM (or the Concerned Shareholder Nominees, as they refer to themselves) are to hold one this afternoon.Benner and the incumbent board and management have been warning shareholders that SRM's only interest is in using HudBay's $686-million war chest to undertake a massive share buyback program to pump up the stock, which has fallen from $28 in July 2007 to $5.83, where it closed unchanged Monday.See the full content of this document
Extract
Battle Over Hudbay Gathers Steam
THE battle for control of the HudBay Minerals boardroom is looking increasingly like an unruly election campaign.
Dissident sha...See the full content of this document
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