Proposal

Beyond Board of Directors Unanimously Votes to Enhance Governance and Accountability through Declassification

Retrieved on: 
Thursday, November 30, 2023

In accordance with Delaware law, the Board will put forward the proposal for declassification (“Proposal”) for a vote at its next Meeting.

Key Points: 
  • In accordance with Delaware law, the Board will put forward the proposal for declassification (“Proposal”) for a vote at its next Meeting.
  • Details related to the Proposal will be filed with the Company’s annual proxy statement in advance of the Meeting.
  • Marcus Lemonis Co-Chair of the Board said, “Our collective Board, after discussions with various stakeholders, is focused on results and accountability in addition to the highest level of corporate governance.
  • We take our responsibility seriously and want all shareholders to be able to opine on our performance annually.”

Buyer Consortium Led by Dazheng Group Announces Enhanced All-Cash Proposal of US$29.00 Per Share to Acquire Hollysys

Retrieved on: 
Sunday, December 24, 2023

Our commitment to a fruitful and mutually beneficial merger is unwavering, underpinned by our profound belief in the substantial value this endeavor promises for all Hollysys shareholders.

Key Points: 
  • Our commitment to a fruitful and mutually beneficial merger is unwavering, underpinned by our profound belief in the substantial value this endeavor promises for all Hollysys shareholders.
  • This letter contains the terms of our Revised Proposal, unanimously endorsed by our consortium, which is led by Dazheng Group Acquisition Limited and include other members, including TFI Asset Management Limited and GA Technologies Limited.
  • We believe this all-cash offer presents the Company’s shareholders the best opportunity to maximize the full value of their shares immediately, with certainty.
  • We eagerly anticipate engaging in constructive and positive discussions and look forward to moving forward without delay.

XAI Octagon Floating Rate & Alternative Income Term Trust Adjourns Special Meeting of Shareholders to Permit Further Solicitation of Proxies

Retrieved on: 
Tuesday, December 19, 2023

XAI Octagon Floating Rate & Alternative Income Term Trust (the “Trust”) (NYSE: XFLT) announced today that its special meeting of shareholders (the “Special Meeting”) has been adjourned to January 24, 2024 at 10:00 a.m. Central time with respect to all proposals to allow more time for shareholders to vote.

Key Points: 
  • XAI Octagon Floating Rate & Alternative Income Term Trust (the “Trust”) (NYSE: XFLT) announced today that its special meeting of shareholders (the “Special Meeting”) has been adjourned to January 24, 2024 at 10:00 a.m. Central time with respect to all proposals to allow more time for shareholders to vote.
  • The reconvened Special Meeting will be held at offices of the Trust’s investment adviser, XA Investments LLC, 321 North Clark Street, Suite 2430, Chicago, Illinois 60654.
  • The October 25, 2023 record date for shareholders entitled to vote at the adjourned Special Meeting remains unchanged.
  • At the time the Special Meeting was adjourned, proxies had been submitted by shareholders representing approximately 40.35% of the Trust’s shares outstanding and entitled to vote.

Revised Proposal in Bankruptcy of Metroland Media Group Ltd. Approved

Retrieved on: 
Monday, December 11, 2023

TORONTO, Dec. 11, 2023 /CNW/ - A Meeting of Creditors was held today to consider the Revised Proposal in Bankruptcy of Metroland Media Group Ltd. ("Metroland").

Key Points: 
  • TORONTO, Dec. 11, 2023 /CNW/ - A Meeting of Creditors was held today to consider the Revised Proposal in Bankruptcy of Metroland Media Group Ltd. ("Metroland").
  • Koskie Minsky LLP is the court-appointed Representative Counsel to the non-unionized employees and voted in favour of the revised Proposal.
  • The Proposal Trustee reported that the requisite double-majority of creditor votes was achieved, and the Proposal passed the vote.
  • The approval of the Revised Proposal also allows Metroland to proceed with its restructuring with the hope of saving the jobs of over 400 continuing employees."

The Government of Canada launches the renewed Multiculturalism and Anti-Racism Program

Retrieved on: 
Monday, December 11, 2023

The Multiculturalism and Anti-Racism Program (MARP) was launched as part of the Government of Canada's work on supporting diversity through inclusivity.

Key Points: 
  • The Multiculturalism and Anti-Racism Program (MARP) was launched as part of the Government of Canada's work on supporting diversity through inclusivity.
  • The renewed program—a consolidation of the Community Support, Multiculturalism and Anti-Racism Initiatives Program and the Anti-Racism Action Program—aims to enhance efficiency and support more effectively communities and organizations throughout Canada.
  • The Multiculturalism and Anti-Racism Program is replacing the Community Support, Multiculturalism, and Anti-Racism Initiatives Program and the Anti-Racism Action Program.
  • The current Call for Proposals is for the Organizational Capacity Building component of the program.

Buyer Consortium Led by Recco Control Technology and Dazheng Group Increases Its Offer to Acquire Hollysys to US$26.50 Per Share

Retrieved on: 
Wednesday, November 8, 2023

On August 24, 2023, we submitted to you a letter affirming our offer of $25 per share and reiterating the terms of the First Proposal.

Key Points: 
  • On August 24, 2023, we submitted to you a letter affirming our offer of $25 per share and reiterating the terms of the First Proposal.
  • We are confident that our proposal represents superior and certain value for Hollysys shareholders and anticipate your collaborative and constructive engagement with us.
  • This letter contains the terms of our Updated Proposal, unanimously endorsed by our consortium, which is led by Recco Control Technology Pte.
  • Ltd and Dazheng Group (Hong Kong) Investment Holdings Company Limited and include other members, including Chinese state-owned strategic investors.

BEST Inc. Announces Receipt of a Preliminary Non-Binding Proposal to Acquire the Company and Formation of Special Committee

Retrieved on: 
Monday, November 6, 2023

A copy of the Proposal Letter is attached hereto as Exhibit A.

Key Points: 
  • A copy of the Proposal Letter is attached hereto as Exhibit A.
  • The Company today also announced that the Board has formed a special committee consisting of its three independent directors, Wenbiao Li, Ying Wu and Klaus Anker Petersen, to evaluate and consider the Proposal Letter and the Proposed Transaction.
  • The Company does not undertake any obligation to provide any updates with respect to any transaction, except as required under applicable law.
  • These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements.

XAI Octagon Floating Rate & Alternative Income Term Trust Announces Board Approval of Proposal to Become Perpetual Fund and New Sub-Advisory Agreement with Octagon Credit Investors

Retrieved on: 
Thursday, October 26, 2023

XAI Octagon Floating Rate & Alternative Income Term Trust (the “Trust”) (NYSE: XFLT), announced that the Trust’s Board of Trustees (the “Board”) has unanimously approved a proposal to eliminate the Trust’s termination date of December 31, 2029.

Key Points: 
  • XAI Octagon Floating Rate & Alternative Income Term Trust (the “Trust”) (NYSE: XFLT), announced that the Trust’s Board of Trustees (the “Board”) has unanimously approved a proposal to eliminate the Trust’s termination date of December 31, 2029.
  • The proposal, if approved by shareholders, will amend the Trust’s Second Amended and Restated Declaration of Trust and make the Trust perpetual (the “Term Amendment”).
  • The transaction will constitute an “assignment” of the current sub-advisory agreement among the Trust, XAI and Octagon, causing the current agreement to terminate according to its terms, and necessitating approval of the new sub-advisory agreement (the “New Octagon Agreement”).
  • The Term Amendment and the New Octagon Agreement (together, the “Proposals”) are subject to approval by the Trust’s shareholders.

Minister of Transport announces the launch of the Request for Proposals for the High Frequency Rail project

Retrieved on: 
Friday, October 13, 2023

OTTAWA, ON, Oct. 13, 2023 /CNW/ - The High Frequency Rail project will be the largest Canadian infrastructure project in generations.

Key Points: 
  • OTTAWA, ON, Oct. 13, 2023 /CNW/ - The High Frequency Rail project will be the largest Canadian infrastructure project in generations.
  • Today, the Minister of Transport and Quebec Lieutenant, Pablo Rodriguez, announced the launch of the Request for Proposals (RFP).
  • Following the evaluation period, the Government of Canada will select the group who will become the private developer partner to work collaboratively with VIA HFR to design and develop the High Frequency Rail project.
  • "The launch of the Request for Proposals for the High Frequency Rail project marks a significant milestone.

Scilex Holding Company Provides Notice to All Record Holders and Beneficial Owners of Restricted Shares of Scilex Holding Company

Retrieved on: 
Tuesday, October 3, 2023

The Scilex Dividend Stock was primarily received by “record holders,” or brokers, dealers, banks and other nominees acting as agents for shareholders who are the true “beneficial owners” of the Scilex Dividend Stock.

Key Points: 
  • The Scilex Dividend Stock was primarily received by “record holders,” or brokers, dealers, banks and other nominees acting as agents for shareholders who are the true “beneficial owners” of the Scilex Dividend Stock.
  • “Naked short” sales or “naked short” positions in any Scilex common stock may constitute a violation of SEC Regulation SHO.
  • If a holder of a short-position already holds unrestricted shares of Scilex common stock, such holder may convert such shares into restricted shares subject to the Lockup via the same process outlined herein.
  • b. Scilex and the buyer will jointly instruct Continental Stock Transfer & Trust Company, Scilex’s transfer agent (“Continental”), to impose the Lockup on the shares.