Carmen Diges, chair of Miller Thomson’s
mining group in Toronto,
is standing as a candidate for the board of Continental Precious Minerals Inc.
on behalf of shareholder, Sharad Mistry, as part of an ongoing proxy fight
between Continental’s board and Mistry.
Continental’s fight illustrates a
growing trend: shareholders taking on boards because stock prices have sunk and
doubts surround proper corporate governance. A recent judgment in a legal
battle between the board and another group of dissident shareholders who tried
to challenge Continental’s board and its 50-per-cent quorum rule in court had
“As a professional, at some point,
you have to stand up for the principles of corporate governance,” Diges said in
an interview with the Globe and Mail.
Read the full article: Stepping into
the proxy battles over boards