Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Expo on Google News
SYS-CON.TV
Cloud Expo & Virtualization 2009 East
PLATINUM SPONSORS:
IBM
Smarter Business Solutions Through Dynamic Infrastructure
IBM
Smarter Insights: How the CIO Becomes a Hero Again
Microsoft
Windows Azure
GOLD SPONSORS:
Appsense
Why VDI?
CA
Maximizing the Business Value of Virtualization in Enterprise and Cloud Computing Environments
ExactTarget
Messaging in the Cloud - Email, SMS and Voice
Freedom OSS
Stairway to the Cloud
Sun
Sun's Incubation Platform: Helping Startups Serve the Enterprise
POWER PANELS:
Cloud Computing & Enterprise IT: Cost & Operational Benefits
How and Why is a Flexible IT Infrastructure the Key To the Future?
Click For 2008 West
Event Webcasts
Mundoro Proxy Review Suggests Dissident Victory

VANCOUVER, Nov. 7, 2012 /CNW/ -

Dear Fellow Shareholders,

On August 27, 2012, Mundoro Capital Inc. (the "Company") held an Annual General and Special Meeting of Shareholders (the "Meeting").  The results of the Meeting, as announced by the chairman, were extremely close, with the exception of Management's plan to amend the articles to entrench the advanced notice policy, which was soundly defeated by the shareholders.

Prior to, during and following the Meeting, the concerned shareholders voiced strong and repeated concerns about the independence of the chairman of the Meeting, the conduct of Management and certain directors, as well as ultimately, the outcome of the Meeting itself.  These concerns were coupled with requests made to Management to review the proxies and other Meeting materials, which is a legal right of any shareholder.  Such efforts, all  in the direction of basic good governance and shareholder rights, were outright rejected by Management and the chairman, John Hoey.

After considerable delay, the concerned shareholders were finally provided with the Meeting materials (all be it with certain portions deleted) for review.  This review established exactly what we were concerned about: certain proxies had been counted in favour of Management that should not have been and that, in our opinion, upon a proper tally, the concerned shareholders had been successful on all accounts.

Faced with a vote count based on the concerned shareholders' review that would have yielded minority representation on the Board of Directors of the Company, Management refused to accept the revised vote.  Efforts to negotiate an alternate arrangement that could have been effected without a new shareholders meeting were delayed and ultimately rejected by Management and Mr. Hoey.  Mr. Allen Li, on behalf of the concerned shareholders made continuing efforts to meet with Mr. Hoey.  Mr. Hoey accepted these overtures to meet, but dragged this process out until he finally told Mr. Li that Management was not about to reconsider the vote count as announced by the chairman.

Having exhausted all efforts of negotiation, this leaves the concerned shareholders with two options; to either go to court and have a judge overturn the outcome of the Meeting by agreeing that Mr. Hoey's inclusion of certain votes were invalid or alternatively, for the concerned shareholders to put an end to their campaign.

The next step in the legal process would continue to cost the Company and the concerned shareholders considerable amounts of time and money.  The concerned shareholders have decided not to pursue legal action against the Company given the time that it would take to bring this matter to conclusion and the additional expenses that would be incurred by all.  In doing so, the concerned shareholders make it clear that they do not accept the chairman's declaration on the outcome of the Meeting and are convinced that had there been an independent chairman and had the votes been properly tabulated, the concerned shareholders would have been successful.  The concerned shareholders will continue to press for minority rights in Mundoro and will take whatever steps are reasonable to ensure the accountability of Management to its shareholders.

The concerned shareholders would like to take this opportunity to thank the majority of Mundoro shareholders who supported our position for shareholders rights; it is unfortunate this majority view was thwarted by what appears to be an incorrect vote count!

SOURCE Mundoro Capital Inc.

About PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Cloud Developer Stories
Next-Gen Cloud. Whatever you call it, there’s a higher calling for cloud computing that requires providers to change their spots and move from a commodity mindset to a premium one. Businesses can no longer maintain the status quo that today’s service providers offer. Yes, the con...
The social media expansion has shown just how people are eager to share their experiences with the rest of the world. Cloud technology is the perfect platform to satisfy this need given its great flexibility and readiness. At Cynny, we aim to revolutionize how people share and or...
Cloud backup and recovery services are critical to safeguarding an organization’s data and ensuring business continuity when technical failures and outages occur. With so many choices, how do you find the right provider for your specific needs? In his session at 14th Cloud Expo...
This white paper digs deep into the reasons testing mobile apps is fundamentally harder than traditional web or desktop applications. Experts Tina Zhuo and Dennis Schultz from IBM along with Yoram Mizrachi from Perfecto Mobile and John Montgomery from uTest collaborate to explore...
Web conferencing in a public cloud has the same risks as any other cloud service. If you have ever had concerns over the types of data being shared in your employees’ web conferences, such as IP, financials or customer data, then it’s time to look at web conferencing in a private...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021



SYS-CON Featured Whitepapers
ADS BY GOOGLE

Breaking Cloud Computing News
Parsons is pleased to announce that it has acquired Secure Mission Solutions, a premier provider of ...