Stephen must have been really pissed off when listening in on that CC after the SR last week.
He sounded pretty confident in his opinions during the very recent BNN video (linked above) and it seems eating crow is hard to swallow. Harder for those BNN viewers trusting these words and buying into a losing investment, based on good advice.
Welcome to the world of retail investing......
We need him to continue to be engaged for all the retail investor longs in this stock lacking coordination to offer a voiced opinion and clear message to the current WiLAN BOD.
His two main points appear to be:
#1) WiLAN BOD doesn't empathize with Shareholders or respresent their best interests. They have failed at the most basic of announced intentions -INCREASING SHAREHOLDER VALUE!
#2) WiLAN BOD and Corporate Insiders have a very low personal ownership of the firm. Rightly so, the skin in the game is to keep the corporate 'gravy train' moving and paying out. Low insider share ownership - so therefore salary and bonus incentives are the best way to increase BOD equity. Shareholders what? Paul McCarten, Jim Skippen - do you guys remember the reason for this whole SR process? Stephen Takacsy, chief investment officer and portfolio manager at Montreal-based Lester Asset Management - Are you our long awaited Activist Shareholder?
What I still wonder is why did they end the SR now for this end result? - If they are so confident in a corporate turn-around then why not let the SR process drag on for another 6 months to release another 1-2 more record quarterly results prior to telling the world that it's business as usual with the same folks that brought us to this point.
WiLAN BOD - guess what? D-DAY is approaching....
2014 Annual General and Special Meeting of Shareholders
June 18, 2014
Time: 10:00 AM EST
525 Legget Drive