The Agreed Delay

[Stavros]

One item was left out ... IOC spent a VERY significant amount of time and money to WRITE the "MIC"
Synonym of "MIC" ... DRIVEL

[katytrader]

One item was left out ... IOC spent a VERY significant amount of time and money to WRITE the "MIC" Synonym of "MIC" ... DRIVEL

Yes, and even more time and money to deal with proxies for the "Special Meeting"    Somewhere in all of this stuff I read that IOC's estimated cost is $250K, which is about the marginal cash cost of  2 Board members.  Oh, but wait......there will be a net saving if the Board size is reduced to 6.  And everything will even be better if we can halt the monetization of assets!

[ArtM72]

One item was left out ... IOC spent a VERY significant amount of time and money to WRITE the "MIC" Synonym of "MIC" ... DRIVEL

Yes, and even more time and money to deal with proxies for the "Special Meeting"    Somewhere in all of this stuff I read that IOC's estimated cost is $250K, which is about the marginal cash cost of  2 Board members.  Oh, but wait......there will be a net saving if the Board size is reduced to 6.  And everything will even be better if we can halt the monetization of assets!

This was an interesting thread to re-read.  Thought I'd pop it back up again.

Katy - With the $250,000 alleged cost in mind I would pose this question to the Board: "What was the corporate cost for the 2015 Annual Meeting compared to the Grand Rapids 2012 Annual Meeting and what was the market price of IOC stock on those two occasions?

[Stavros]

You cannot allocate salaries of employees towards writing the MIC and dealing with the proxies ... because if they didn't undertake those chores, they would have been doing NOTHING and would have garnered their monthly paychecks while quaffing long tall ones at HARRY's.
http://harrys.com.sg/find-us

Getting the new materials published for Shareholders to vote upon cannot possibly cost $250k relative to publishing the versions they had hoped to issue.

[jft310]

Corporate lawyers bill out at $1,000 an hour plus . One can debate the quality of the work but the amount is sorry to say close to reality . My ex wife and I spent over $100,000 to finally agree to the divorce law in the state we lived in . My suggestion from the get go . A mere $100,000 later she agreed .
Lawyers are a mess.

[Stavros]

No need for IOC to be hiring Liars (er Lawyers).
IF they did, then why is Ms. Ford garnering the Big Bucks:

IOC Management and Directors

Sheree Ford
General Counsel and Corporate Secretary

Sheree Ford has been an international corporate and commercial lawyer for more than 25 years, mostly in energy and resources.

She worked for 10 years with BHP Billiton’s petroleum businesses and was general counsel for more than a decade at Roc Oil, Oil Search and Pexco Energy.

She is experienced in international law, having provided advice and led negotiations for projects in Papua New Guinea, Australia, Indonesia, China, Malaysia, Africa and the United Kingdom.

Sheree has a Masters of Business Administration, arts and law degrees, and a diploma in natural resource law from the University of Melbourne in Victoria, Australia.