so the reason power backed away from their intension to replace most of the board (except Landau) was due to Evraz backing Sage, but behind the scenes Evraz are wishing Cape Lambert to pick up their holding (and I imagine at a much higher price) but Sage is personally buying shares on market, so Evraz has used its muscle and voted against the boards wishes to issue 44 million shares for Marampa, and once again against the issue of 8.35 mill options to employees and consultants and against the pay increase for directors from $120,000 to $600,000 (personally I don't particularly want Evraz out of the picture to some extent) which I believe is telling sage (and the board) in no uncertain terms "If you want your resolutions passed you will have to get rid of us first" as for this latest action by Brett Matich, well it will prevent power from either picking up Evraz's stash or being able to use Evraz's vote to oust the board, at least for the time being.
wow what tangled webs we weave
CFE Price at posting:
17.5¢ Sentiment: None Disclosure: Held
