https://www.miningweekly.com

Hudbay says largest shareholder to vote for its nominees

18th April 2019

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

TSX- and NYSE-listed Hudbay Minerals said on Wednesday that its largest shareholder, Letko, Brosseau & Associates, had confirmed that it would vote for the company's director nominees at the upcoming shareholders meeting.

Letko, Brosseau & Associates exercises investment control or direction over about 35 112 398 shares, or 13.4%, of Hudbay’s issued and outstanding shares.

The support comes as Waterton Global Resource Management is lobbying shareholders to replace 80% of Hudbay’s board, including its CEO and chairperson. The dissident shareholders have put forward a slate of eight directors they want voted in at the May 7 meeting.

Earlier in the week, Waterton started legal proceedings against Hudbay in the Ontario Superior Court, alleging that the company’s management information circular in respect of its scheduled special shareholders meeting contains misrepresentations and seeks to constrain its ability to solicit proxies.

Hudbay dismissed the litigation as “frivolous”.

Edited by Creamer Media Reporter

Comments

Showroom

Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.166 0.202s - 92pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: