Laurel Hill Congratulates Taseko as Its Proxy Contest Ends With May 10 Special Meeting Cancellation as Dissidents Obtain Negligible Shareholder Support
VANCOUVER, BRITISH COLUMBIA and NEW YORK, NEW YORK--(Marketwired - May 16, 2016) - Laurel Hill congratulates its client, Taseko Mines Limited ("Taseko"), for the successful end of its proxy fight after the cancellation of a scheduled special meeting of shareholders set for May 10, 2016. The dissident shareholder Raging River Capital LP ("RRC") publicly withdrew its meeting requisition on May 6, 2016 citing inadequate shareholder support.
As of the announced proxy cut off time of 10:00 am Pacific on May 6, 2016, well over 50% of Taseko shareholders voted the yellow proxy, with over 94% of the shares voted against RRC's proposals.
"Taseko has worked with the team at Laurel Hill for many years. When it came to our Requisitioned meeting, Laurel Hill was an integral component of the team. Their insight and experience was key to forming our strategy, resulting in overwhelming support from our shareholders such that the Dissidents withdrew prior to the cut-off," said Ron Thiessen, Chair of Taseko.
Russell E. Hallbauer, President & CEO of Taseko, stated, "The team at Laurel Hill were valued members of our key advisors. Proxy battles are consuming affairs, particularly when there is a business to run. LH's knowledge, and insight into what is important to shareholders played a critical role insuring the Company and the Boards message resonated with our shareholders so they could make informed and unbiased decisions for the future of their company."
"Laurel Hill and the entire team at Taseko worked very closely to ensure that the dissident attack on our client was unsuccessful. We are grateful that the Taseko shareholders recognized the unwarranted action against their company and overwhelmingly supported management," added David Salmon, President of Laurel Hill.
Laurel Hill Advisory Group