The Conversation (0)
Glass Lewis & Co. recommends that Roxgold Inc. (TSXV:ROG) shareholders support Roxgold’s Director Nominees as set out in the GOLD proxy, at the Company’s upcoming annual general meeting on September 25, 2012.
As quoted in the press release:
Regarding the strength of Roxgold’s CEO cadidate Brett Richards and Board nominees, the Glass Lewis report states: “…Roxgold is proposing to substantially reconstitute the existing board with appropriately skilled individuals, including Mr. Richards, whose lengthy background and local experience would seem to offer compelling benefits for the Company going forward.” The Glass Lewis report also states that, “…the Company’s newly-proposed CEO, Brett Richards, appears to have considerably greater experience than the Dissident’s proposed interim CEO, John Dorward, including service as CEO of a firm that conducted active mining operations in Burkina Faso.”
Regarding Oliver Lennox-King’s approach, the Glass Lewis report states: “…we find the Dissident has offered shareholders an insufficiently compelling rationale for wholesale change at the board-level. Instead, it appears the Dissident relies on a sole, short-term quantitative argument, itself unfettered by any meaningful context or relative analyses, while railing on the prior actions of a board the Company is proposing to substantially replace. We find these arguments, taken together, serve as inadequate cause to support the Dissident nominees, many of which serve on other boards together, or the Dissident plan, the bulk of which appears duplicative of past or existing efforts by the current board.”
Click here to read the Roxgold (TSXV:ROG) press release