again........ My name is not Larry but I can tell you that the board does not need shareholder approval to do a 10 to 1 stock split.
However they do need approval for a 30 tro 1 (becuase it is more extreme)
In the past the board needed shareholder approval for a 10 to 1 (which is also extreme), but those regulations were recinded.
As the years pass by, the regulations governing the Ventures Exchange, have evolved away from the rights of shareholders, giving more unilateral power to the boards of Junior Explorers.
In the end however, everyone loses, as mistrust grows in the Ventures Market:
No one need wonder why the ventures is so weak when a board is able to go out and do a 10 to 1 split without any approval from their shareholders. As regualtions increase in favor of boards acting without the need for shareholder approval, so does the cancer of mistrust.
Without trust there is nothing: making a pityful Ventures market as we see today: the lowest sentiment on record.
As I have stated in a past post: the underlying issue is with the Venture Exchange and their regulations which also include proceedure whereby a board can put forth such proposals so quickly without a meaningful period of time for shareholder participation before the vote. What really needs to happen is for the ventures exchange to be overhauled through courts or state governmnet legislation.
On a more positve note: Hopefully we will get good shareholder participation at the AGM: PLEASE Get out and VOTE, particualrly those who live in Montreal.
thanks ...danny
