UPDATE: Western Wind management prevails in proxy battle with Savitr Capital

摘要

Western Wind Energy Corp. management got a reprieve at their annual shareholders meeting Sept. 25, when roughly 75% of proxy votes supported their nominees for the board of directors, according to a preliminary tally. Dissident shareholders, led by San Francisco-based hedge fund Savitr Capital LLC, got roughly 25% of the votes.nnBrookfield Renewable Energy Partners LP, Western Wind's largest single stockholder, was presumed to have not voted against Western Wind CEO Jeff Ciachurski, who has been in a public battle with Savitr for months.nn"Insiders had 10% of the shares, Brookfield had 16%, so if only 11% voted for Savitr, that means Brookfield did not vote for them," Jacobs Securities research director John McIlveen said. "I would assume that most of the retail ownership were in the 40% who did not vote, 62% of shares were retail."