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Friday, January 10, 2014

Sherritt to hold special meeting, targeted by activist, (TSE: S.TO)

Canada's Sherritt International Corp will hold a special meeting of shareholders on May 6 to vote on an activist investor's slate of board nominees, the company said on Friday. The nickel, oil and gas producer said the meeting was requisitioned by shareholders affiliated with George Armoyan, including Clark Inc, which beneficially own some 5 percent of its shares.

Shares of S traded higher by 0.86% or $0.03/share to $3.53. In the past year, the shares have traded as low as $3.02 and as high as $5.99. On average, 1069530 shares of S.TO exchange hands on a given day and today's volume is recorded at 634526.