Saturday November 22, 2014

WIT shareholders oppose sale, get taken to court by WIT board


Shareholders in the Weyburn Inland Terminal raise their hands as lawyer Warren Sproule, at the podium at left bottom, seeks to make sure information was provided to them all, at a special information meeting held by dissident group of shareholders on Feb. 4 at McKenna Hall. Over 300 people packed the auditorium for the meeting, where a group of shareholders and former board members put forward their view that the Terminal does not have to be sold, as they can compete as they have been. WIT's current board is recommending an offer from the Canadian grain company, Parrish & Heimbecker, who is offering $17.25 a share for all outstanding shares; following the above meeting, the WIT board moved to take the dissident shareholders group to court on Tuesday to prevent them from gathering proxy votes against the sale to P&H. A vote by shareholders, in person or by proxy, will be held on Friday, Feb. 28, on the offer.

For the complete story read the February 12, 2014 edition of the Weyburn Review.


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