Recently a microcap (COY) which i am a shareholder of has received notice that a significant shareholder wishes to replace its entire board with its own elected members.
the majority shareholder has a MC of less than COY, therefore it looks like they are seeking control through the replacement of the board.
Being a microcap the stock doesnt receive much attention, so i had some concerns i would like to put to HC members.
1) If they are able to take control of the stock, is it legally possible to delist the stock? and if so what happens to the smaller shareholders like myself?
2) In the short term, I would have thought that this would have an adverse effect on the SP, however the SP looks to be stagnated. If anyone has encountered this scenario before what are the potential effects?
