DavidsTea co-founder’s proxy battle heats up with launch of website summarizing turnaround plan [Financial Post (Toronto, Ontario, Canada)]
DAVIDsTEA Inc. (DTEA)
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Source: Financial Post
DavidsTea co-founder's proxy battle heats up with launch of website summarizing turnaround plan Rainy Day Investments Ltd., the holding company of co-founder Herschel Segal, launched a website site called savedtea.com MONTREAL — A new front has opened up in the proxy battle for DavidsTea after the company’s founder launched a website as part of his effort to gain control of the embattled beverage retailer. Rainy Day Investments Ltd., the holding company of co-founder Herschel Segal, launched a website site called savedtea.com to summarize its turnaround plan. The firm had previously eyed taking DavidsTea private, but said in March that it won’t proceed with plans for a privatization transaction and had no plans to sell its shares. The investment firm, which owns about 46 per cent of the Montreal-based company’s outstanding shares, has proposed a slate of seven nominees to the board. The battle will be decided at DavidsTea’s annual meeting June 14. A spokeswoman for DavidsTea said Thur
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