Hudbay hit back at Waterton and said it would provide a “fulsome response” to its board suggestions in due course.
Hudbay Minerals (TSX,NYSE:HBM) has put out a release highlighting its “proven track record, successful execution and strong corporate governance” following major shareholder Waterton Global Resource Management’s naming of alternate nominees for election to the company’s board of directors at its next annual shareholders’ meeting.
The company pointed to its “proven growth strategy and world-class asset base”, “history of succesful execution” and “strong governance track record” in its response to the attack by Waterton, which had singled out stock performance and entrenchment on the board.
As quoted in the press release:
“Hudbay will set a date for its annual meeting and file a proxy circular, including a fulsome response to Waterton and voting recommendation for shareholders, in due course.”