THE long-awaited meeting of Sovereign shareholders called to vote on a controversial empowerment transaction that was initially scheduled for July 25 and then postponed to October 19, has been postponed again, this time to January 6 2017.In a Sens announcement issued on Thursday, Sovereign told shareholders it needed the extra time for a ruling from the takeover special committee of the takeover regulation panel. The ruling related to Sovereign’s decision to challenge Country Bird Holdings’ (CBH’s) "purported waiver" of its conditional offer to shareholders of Sovereign.On Thursday evening, Country Bird chairman Kevin James said he did not understand why yet another postponement was needed."This happens every time we get them into a corner," said James. He said it was difficult to understand how the Takeover Regulation Panel or its special committee could be concerned about the waiver as it was beneficial for the Sovereign shareholders.In July, Country Bird Holdings announced a 900c...
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