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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Turquoise Hill Resources Ltd | TSX:TRQ | Toronto | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 42.99 | 42.99 | 43.00 | 0 | 01:00:00 |
Yesterday, Rio Tinto confirmed that the Company will no longer need to fund the construction of the power plant as the Government of Mongolia will now “fund and construct a State Owned Power Plant at Tavan Tolgoi.” Today, Pentwater responds: Now that the Company’s 51% owner Rio Tinto has confirmed that Turquoise Hill will not need to finance the construction of the power plant, Turquoise Hill must come clean and provide at least the bare minimum of financial disclosure to its minority shareholders who own 49% of its stock. Tell us the truth!
Turquoise Hill’s disclosures are inadequate and misleading. Shareholders have a right to know these answers. However, the Board and management seem to not want to be honest and transparent with their minority shareholders. Instead, the Board and management prefer to act only in the interest of Rio Tinto, which has chosen every single Board member and every single manager.
This is why it is so important that shareholders vote for the election of a minority shareholder representative to the Board and why shareholders support Pentwater’s proposal to amend the bylaws to allow minority shareholders to have full time representatives on the Company’s Board.
We Need Your Support
We are seeking your support at the Company's upcoming annual and special meeting of shareholders to be held on July 24, 2020 to restore accountability at Turquoise Hill and give minority shareholders back their voice.
We encourage our fellow shareholders to consider the facts and take action against the current culture of entrenchment, value destruction and misconduct at Turquoise Hill. The interests of the Company's minority shareholders have been disregarded for far too long. Your vote is critical to initiate much-needed change, to restore accountability and to safeguard minority shareholder interests in Turquoise Hill.
Shareholders are urged to vote only the GOLD proxy:
Shareholders are urged to read the full text of Pentwater's proxy circular and related press releases, which have been filed and made available under Turquoise Hill's issuer profile at www.sedar.com.
For further information contact:
MacKenzie Partners, Inc. Daniel Burch – 1-212-929-5748 Jeanne Carr – 1-917-648-4478Email: SaveTRQ@mackenziepartners.com
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