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Nickel 28 Capital Reiterates Warning to Shareholders Against Pelham’s Highly Abusive, Coercive and Conditional “Mini-Tender” Scheme and Urges Shareholders to Reject It
Board and Special Committee unanimously recommend shareholders not fall for Pelham’s deceptive tricks and refrain from tendering shares of Nickel 28 to highly c
About this update from Nickel 28 Capital Corp
[{"type":"text","content":" Board and Special Committee unanimously recommend shareholders not fall for Pelham’s deceptive tricks and refrain from tendering shares of Nickel 28 to highly conditional and significantly undervalued “mini-tender” offer Pelham’s “mini-tender” is a predatory vote-buying scheme designed to take advantage of retail shareholders and gain significant control of Nickel 28 ahead of material near-term catalysts in order to further a small, opportunistic New York-based hedge fund’s self-interested agenda Significant near-term catalysts for Nickel 28’s portfolio which will drive value creation for shareholders include materially enhanced free cash flow, meaningful capital returns following debt repayment and advancement of assets underlying key royalties Shareholders again warned to TAKE NO ACTION and NOT to tender to this abusive and coercive scheme to buy shares below their intrinsic value TORONTO / Mar 29, 2023 / Business Wire / Nickel 28 Capital Corp. (“Nickel 28” or the “Company”) (TSXV: NKL) (FSE: 3JC0) today announced that its board of directors (the “Board”) and a newly formed special committee of the independent directors of the Board (the “Special Committee”), supported by their financial and legal advisors, unanimously recommended that Nickel 28 shareholders REJECT the unsolicited “mini-tender” offer (the “Scheme”) announced on March 21, 2023 by Pelham Investment Partners LP (“Pelham”) and NOT TENDER their shares. The Board and the Special Committee categorically reject Pelham’s Scheme as highly abusive, coercive, misleading, conditional, and prejudicial to the interests of shareholders, and urge shareholders to take no action and not to tender their shares and give away the future value of their investment to a self-interested, predatory New York-based hedge fund. Pelham’s Scheme is designed to buy your shares for less than their intrinsic value in contemplation of a value destructive proxy-contest Having taken advice from its legal and financial advisors, the Board and Special Committee unanimously REJECT the Scheme as representing a self-serving, opportunistic and coercive attempt by Pelham to extract value and gain significant influence over the Company solely for its own benefit, at the expense of, and to the detriment to, shareholders of Nickel 28, this time through a “mini-tender” offer that significantly undervalues N...