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Client Work

Ka An Development’s successful proxy battle for Eastern Platinum

Fasken
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Overview

Client

Ka An Development Co. Limited

On July 5, 2016, at an annual general meeting of the shareholders of Eastern Platinum Limited (TSX: ELR) (“Eastern Platinum”), nominees of Ka An Development Co. Limited (“Ka An”) were elected as the sole directors to Eastern Platinum’s board of directors, thus ending a contentious proxy battle for control of the mining company with assets in South Africa. Ka An defeated efforts by Eastern Platinum’s incumbent board of directors to remain with the company. As well, K2 Principal Fund L.P. had also informed Eastern Platinum management that it had reserved its rights to nominate six directors to Eastern Platinum’s board to replace the incumbent board. In the end, only Ka An’s director nominees were selected by Eastern Platinum’s shareholders to lead the company.

Fasken Martineau advised Ka An with a team comprised of Michael Boehm, Lei Huang, Paul Fornazzari, Daniel Batista and Blair Horn.

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