Medalist Diversified files draft information statement
MDRR•Medalist Diversified will seek shareholder approval on November 23, 2026, for a charter amendment restricting certain share transfers to protect tax benefits. More than 95% of votes cast supported the proposal on June 16, but it did not receive the required approval.
1. Proposed transfer limits
The proposed amendment would generally prevent investors from reaching 4.9% ownership or existing holders above that threshold from increasing their stakes, subject to exemptions. It aims to protect net operating losses and net capital losses that can offset future taxable income. Management holds approximately 55.9% of outstanding voting securities and intends to support the amendment.
