ISS and Glass Lewis are two leading independent proxy advisory firms, providing voting recommendations to some of the largest institutional investors
ISS and Glass Lewis support the arrangement transaction between Guyana Goldfields and Zijin Mining. (Credit: Shutterbug75 from Pixabay)
Guyana Goldfields Inc. (TSX: GUY) (“Guyana Goldfields”) is pleased to announce that Institutional Shareholder Services (“ISS”) and Glass Lewis & Co. (“Glass Lewis”) have recommended that shareholders of Guyana Goldfields vote FOR the proposed transaction with Zijin Mining Group Co., Ltd. (SSE: 601899) (SEHK: 2899) (“Zijin”).
ISS and Glass Lewis are two leading independent proxy advisory firms, providing voting recommendations to some of the largest institutional investors. Their endorsement of the transaction highlights the merits of the proposed transaction with Zijin.
The reports issued by ISS and Glass Lewis also include positive recommendations on the election of director nominees, Guyana Goldfields’ approach to executive compensation and the reduction of stated capital.
While endorsing the transaction, ISS noted that: “…shareholders will cash out of their investment at a significant premium…with certainty of value and immediate liquidity.” Glass Lewis also provided a recommendation, stating that “…the proposed transaction appears to be the result of a robust and competitive process and we see no reason to doubt that it likely represents the most favourable offer available at the present time.”
Welcoming ISS and Glass Lewis’ favourable recommendations, Alan Pangbourne, President, CEO and Director of Guyana Goldfields commented, “We are pleased that ISS and Glass Lewis have both recommended in favour of the proposed transaction with Zijin and unanimously recommend that our shareholders support this transaction.”
Guyana Goldfields encourages registered shareholders to vote their proxies prior to the proxy deadline of Thursday, July 23, 2020 at 10:30 a.m. (Toronto time) and beneficial shareholders to vote their proxies or voting instruction forms prior to the deadline set out therein.
Source: Company Press Release