Was a little amused to see Clarke and George pop up on another stock that I own(Sherritt Int'l), but thought it might interest some--attached below:
Globe says Clarke threatens Sherritt with a proxy fight
2013-12-27 06:03 ET - In the News
See In the News (C-CKI) Clarke Inc
The Globe and Mail reports in its Thursday, Dec. 26, edition that one of Sherritt International's ($3.88) major shareholders, Clarke, told the company to revamp its board as the miner announced the $946-million sale of its thermal coal business. The Globe's Rachelle Younglai writes that Clarke's request overshadowed the news that Sherritt was exiting the coal business. Clarke chief executive officer George Armoyan said: "The whole board and the management own less than half of 1 per cent of the company. ... A lot of people have been dissatisfied with performance of the stock. We want to have ownership representation on the board." Sherritt's stock has dropped more than 40 per cent this year. Clarke officially asked Sherritt to call a shareholder meeting to replace some of the independent directors. The order, which was made public on Tuesday, came after Mr. Armoyan said his requests to speak to management were rebuffed. Mr. Armoyan said he is now due to speak to Sherritt's managers early in January. He hopes a positive resolution will prevail. If not, "we are prepared to have a proxy fight," said Mr. Armoyan. Sherritt says it will review Clarke's request.
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