The original deadline for shareholders to respond was March 7. Corona now says holders of Dickenson B shares and holders of Kam- Kotia common shares will be given until March 21 to signal their intentions.
Corona has extended the deadline to give the Ontario Securities Commission (OSC) more time to review a complaint lodged by Kam- Kotia, which has asked the regulatory body to rule on whether Corona violated early warning disclosur e requirements of the Ontario Securities Act in its bid for Kam- Kotia shares.
In a separate move, Dickenson has asked the OSC for an order directing Corona to make a formal bid for all of the A shares of Dickenson at the same price as the B shares. (The A shares carry one vote each, and the B shares 10 votes each.)
Corona is seeking control of both companies because of the interlocking ownership between Dickenson and Kam-Kotia. Corona is offering $7.15 for each Dickenson B share and $2.50 for each Kam-Kotia share.
The boards of directors of both Dickenson and Kam-Kotia are recommending against the Corona offers.
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