TORONTO (miningweekly.com) – Canadian base metals miner Taseko Mines on Monday reported that a second independent proxy advisory firm has recommended that shareholders vote against all proposals made by dissident shareholder Raging River Capital (RRC) during the special meeting scheduled for May 10.
Institutional Shareholder Services' (ISS's) endorsement followed a report last week by fellow third-party proxy adviser Glass Lewis & Co, which also supported the Taseko board and recommended shareholders vote against RRC.
"In supporting Taseko, both independent proxy advisory firms, ISS and Glass Lewis, have commented on RRC's conflicts of interests and questioned RRC's intentions and analysis. We encourage shareholders to follow the advice of both third-party proxy advisers, which have come out resoundingly in favour of Taseko and against RRC,” stated Taseko special committee chairperson Linda Thorstad.
According to a press release issued by Taseko, ISS concluded: "On balance, upon thorough review of the claims from both the dissident and management . . . the dissident has not made a compelling case for change and, therefore, a vote against this resolution is warranted."