Hickory,
Thought I'd throw out a couple of points for your examination/comments. A year ago UP had
7 directors:
Helton, Laycraft, Hanson, Bruner, Albertus, Hislop and Jarvis.
Bruner left and Watford assumed his position. Jarvis resigned so as not to be caught in"a conflict of interest" with Arrowhead.
Now, Laycraft is leaving, Hanson is leaving and Albertus is leaving.
UP is proposing to change the number of Directors to 3 from 7.
With these directors being Watford, Hislop and Helton.
So, Watford and Hislop can call a meeting with or without Helton and can do pretty much whatever they decide to do.
Towards this end and to further their purposes they are wanting to continue operations under
the YUKON BUSINESS CORPORATION ACT. Seems that the YBCA doesn't have
as many restrictive and cumbersome laws governing their activities(of course there is always the ice breakup in the
spring that slows down communication with the outside world) as the totally restrictive
rules that govern the Vancouver Stock Exchange (Wow, I almost wrote that with a straight face!)
The Shareholder meeting is coming up within a couple of weeks.
Good luck to all the small shareholders,
Lew |
