Good evening everybody, we at IKN Nerve Centre certainly hope this missive finds you in good fettle and fine spirits. Here we are catching up with the day’s affairs, in particular one news release from the pukkah pukkah fellows over at Gold Bullion Development Corp (GBB.v):
VANCOUVER, Feb. 7, 2012 /CNW/ – Gold Bullion Development Corp. (TSXV:GBB.V – News) (OTCPINK:GBBFF.PK – News) (“Gold Bullion” or the “Company”) is pleased to announce that it has adopted a shareholder rights plan (the “Rights Plan”) designed to encourage the fair treatment of its shareholders in the event of an unsolicited take-over bid for shares of the Company. The Rights Plan is designed to give the Company‘s shareholders sufficient time to properly assess a take-over bid without undue pressure and to give the Company’s Board of Directors time to consider alternatives that allow the Company’s shareholders to receive full and fair value for their common shares.Pursuant to the Rights Plan, each holder of record of the outstanding common shares of the Company on February 1, 2012 will be issued one right per common share. The rights will trade with the common shares and be represented by the certificates representing common shares. Although the Rights Plan is effective immediately, it is subject to TSX Venture Exchange approval and must be ratified by the shareholders of the Company within six (6) months of its adoption. The Rights Plan will be submitted to the shareholders of the Company for ratification at the Annual General and Special Meeting of Shareholders to be held April 12, 2012.
And this is what it means:
VANCOUVER, Feb. 7, 2012 /CNW/ – Gold Bullion Development Corp. (TSXV:GBB.V – News) (OTCPINK:GBBFF.PK – News) (“Gold Bullion” or the “Company”) is pleased to announce that it has adopted a shareholder rights plan (the “Rights Plan”) designed to encourage the fair treatment of its shareholders in the event of an unsolicited take-over bid for shares of the Company. This is because we’re really really concerned about the rights and well-being of our shareholders and really really want to protect them from anything that those nasty ‘capitalist’ people out there might want to do to our company. I mean, have you seen how goddam popular our stock has been lately and how goddam popular our shares have been in the open market? Man, you can just see ’em all, falling over themselves to buy up our float and zoom the stock higher on speculation of a buyout in the pipeline, can’t you? Anyway, what we’re doing today is protecting YOU, not US, because YOU are the most important people in the world for us particularly when it’s you guys that will buy into the next dilution and keep our monthly salaries flowing. It makes all the sense in the world for US to protect YOU in these circumstances, doesn’t it? Well, doesn’t it?
So how has this stock got on since Louis Lobito James of Casey Research, aka Louis “Never Been Invited To Tour A Junior Mining Project That I Didn’t Like” James reco’d this to his flock at 50c back somewhere in mid-2011 (the eaxct date escapes me)? What, less like 6 or 8 months ago, is that all?