- Reminds shareholders to vote their BLUE
"universal" proxy in favour of a refreshed board comprised of
six highly qualified, competent and committed nominees who will
maximize value for all shareholders and to withhold on the
election of the four management nominees.
- Shareholders representing more than 30% of outstanding Mason
Graphite shares have already confirmed their support.
- For assistance voting, contact Kingsdale Advisors at
1-866-229-8651 or contactus@kingsdaleadvisors.com.
- To keep current on further developments and for
information about how to vote your shares, visit
www.ABetterMasonGraphite.com.
MONTREAL, Dec. 9, 2020 /CNW Telbec/ - Fahad Al-Tamimi ("Mr. Al-Tamimi" or the
"Concerned Shareholder"), a director and the second largest
shareholder of Mason Graphite Inc. (TSXV: LLG) (OTCQX: MGPHF)
("Mason Graphite" or the "Company") holding
approximately 9.92% of the outstanding Mason Graphite shares,
wishes to react to the press release issued by the Company on
December 8, 2020.
Mr. Al-Tamimi vehemently disagrees with the Company's decision
to needlessly spend shareholders' money to engage a financial
advisor mere days before the inevitable change in the Company's
leadership. In the context of a contested meeting, there is a
fundamental principle that the incumbent directors should manage
the business and affairs of the company in the ordinary course,
with a view to protecting its interests and assets, and should not
pursue drastic actions that can have significant implications for
the company, its shareholders and the incoming directors. Mr.
Al-Tamimi is profoundly disappointed that Mason Graphite would
retain a financial advisor to conduct a strategic review process
less than three weeks before the Company's shareholders decide who
they want to manage the direction and affairs of the Company and to
protect their interests. This is exacerbated by the fact that the
Company did not run a proper competitive process in selecting a
financial advisor. Clearly, such conduct is not in the best
interests of the Company or its shareholders.
"It is regrettable that after having done virtually nothing over
the last three years – during which time the Company's share price
plummeted by more than 90% – the Board has suddenly rushed into
engaging a financial advisor three weeks before the shareholders'
meeting at great expense to the Company's shareholders," said Mr.
Al-Tamimi. "This is a textbook example of incumbent directors
wasting shareholders' money to further entrench themselves. It is
time to move on and elect directors who truly have the best
interests of the Company and its shareholders in mind."
As disclosed in a press release issued by the Concerned
Shareholder on December 8, 2020,
shareholders representing more than 30% of the outstanding common
shares of Mason Graphite have already confirmed their support for
the election of Messrs. Simon
Marcotte, Tayfun Eldem, Nav
Dhaliwal, Roy McDowall,
Peter Damouni and Fahad Al-Tamimi (the "Concerned Shareholder
Nominees") to the Company's Board and their intention to
withhold their votes on the election of Messrs. Gilles Gingras, François Laurin, Guy Chamard and Gaston
A. Morin (the "Management Nominees") to the Company's
Board.
Vote for positive change by 5:00
p.m. (Montreal time) on
Tuesday, December 22, 2020
The Concerned Shareholder also wishes to remind shareholders to
vote for a refreshed board comprised of the Concerned
Shareholder Nominees, each of whom is highly qualified and
competent, for election at the Company's annual meeting of
shareholders scheduled to be held at 10:00
a.m. (Montreal time) on
Tuesday, December 29, 2020, and to
withhold on the election of the Management Nominees. Shareholders
are encouraged to review the proxy materials and vote the
BLUE "universal" form of proxy or BLUE voting
instruction form FOR the Concerned Shareholder Nominees and
to WITHHOLD on the election of the Management
Nominees.
If you have questions or need help voting, contact Kingsdale
Advisors at 1-866-229-8651 or
contactus@kingsdaleadvisors.com.
Shareholders can view the proxy material and accompanying letter
filed under Mason Graphite's profile on SEDAR at www.sedar.com, or
by visiting the Concerned Shareholder's website at
www.ABetterMasonGraphite.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains forward-looking statements. All
statements contained in this filing that are not clearly historical
in nature or that necessarily depend on future events are
forward-looking, and the words "anticipate", "believe", "expect",
"estimate", "plan" and similar expressions are generally intended
to identify forward-looking statements. These statements are based
on current expectations of the Concerned Shareholder and currently
available information. They are not guarantees of future
performance, involve certain risks and uncertainties that are
difficult to predict, and are based upon assumptions as to future
events that may not prove to be accurate. The Concerned Shareholder
does not assume any obligation to update any forward-looking
statements contained in this press release, except as required by
applicable law.
SOURCE Mr. Fahad Al-Tamimi