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Pelham Investment Partners LP Comments on Election of Directors at the Annual General Meeting of Nickel 28 Capital Corp.
Pelham Investment Partners LP Comments on Election of Directors at the Annual General Meeting of ...
About this update from Nickel 28 Capital Corp
[{"type":"text","content":"\n \n \n \n Pelham Investment Partners LP Comments on Election of Directors at the Annual General Meeting of Nickel 28 Capital Corp.\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Majority of Votes Withheld from All Incumbent Nickel 28 Directors\n \n \n \n \n \n \n Board Has Lost Mandate of Shareholders to Lead the Company\n \n \n \n \n \n \n Reconstitution of the Board with Truly Independent Directors Representative of Shareholders is the Only Honorable and Appropriate Course of Action\n \n \n \n \n \n \n NEW YORK\n \n \n ,\n \n \n June 13, 2023\n \n \n /CNW/ - Pelham Investment Partners LP (\"\n \n \n Pelham\n \n \n \", \"\n \n we\n \n \", \"\n \n our\n \n \" and similar pronouns), a\n \n New York\n \n -based investment fund and the single largest shareholder of Nickel 28 Capital Corp. (formerly Conic Metals Corp.) (TSXV: NKL) (FSE: 3JC0) (\"\n \n Nickel 28\n \n \" or the \"\n \n Company\n \n \") comments on the recent announcement by the Company regarding the voting results of its annual general meeting of shareholders of Nickel 28, held yesterday,\n \n June 12, 2023\n \n (the \"\n \n AGM\n \n \" or the \"\n \n Meeting\n \n \").\n \n \n As disclosed by the Company, every management-nominated board candidate received substantially more withhold votes than votes in favour of their election, losing by an average margin of 41.6% votes in favour, to 58.4% votes withheld.  Notably, the average margin of 41.6% of votes cast in favor of the management nominees includes the roughly 19.2 million shares (30.1% of the total voted) owned by insiders. Excluding these shares from the vote totals, a staggering 83.6% of all votes cast called for the replacement of the Company's board of directors (the \"\n \n Board\n \n \").\n \n \n \n Ned Collery\n \n , as\n \n Pelham's\n \n representative, attended the AGM in person, together with his advisors. While management and the Chair of the Meeting refused to disclose how much the Company spent resisting shareholders' demands for change, the facts remain that it was a large amount; t...