Vancouver-based Western Wind Energy Corp. (TSX-V:WND) is fighting hard for votes as the company heads into a proxy battle with a group of dissident shareholders led by fund manager Savitr Capital, LLC.
In late July, Savitr announced that it would nominate five new directors to the company, after Western Wind announced that the company would be made available for sale.
The company and Savitr have since continued to trade attacks, as the battle for company control heats up.
This morning, Western Wind announced that it had mailed out proxy materials to shareholders and issued a strongly worded letter urging shareholders to vote for the management slate of directors.
The letter alleges that Savitr "is being opportunistic and attempting to take control of the corporation by launching a proxy contest without giving shareholders the value they deserve and without paying shareholders the premium they would receive through a fair and competitive takeover process."
It asks shareholders questions such as, "Do you want a group of dissident nominees with no first-hand knowledge of the assets of the corporation or hands-on experience in its industry negotiating the sale of your company?"
The vote is slated for the company's September 25 annual general meeting.
