GMP Mails Letter to Common Shareholders, Publishes New Q&A and Provides Confirmation on Board Independence

“It was always contemplated, and in response to shareholder questions we are pleased to confirm to all our stakeholders that we will adopt this standard. If the RGMP Transaction is approved, the board intends to continue its process of identifying new independent directors with additional wealth management experience to further strengthened the board.

Vote to keep Richardson GMP’s Investment Advisors  

a vote FOR the RGMP Transaction is a vote to keep the most critical drivers of our future growth – Richardson GMP’s Investment Advisors. They overwhelmingly support the RGMP Transaction. They can readily depart for competitors, and GMP and your Board believe many of them will. They won’t wait around for the dissident and his nominees to attempt a lengthy renegotiation.

Richardson GMP’s Investment Advisors know well the dissident and his track record from his prior roles at GMP and Richardson GMP.  Having taken his measure, Richardson GMP Investment Advisors representing approximately 97% of Richardson GMP’s assets under administration have indicated their support for the terms of the RGMP Transaction. That should tell you something.

The dissident may try to downplay the threatened departure of Richardson GMP’s Investment Advisors as just a scare tactic. Don’t be taken in. Instead, look closely at the dissident’s demands. You will clearly see them as the Richardson GMP Investment Advisors see them – as an unequivocal directive to find employment elsewhere.

The Dissident’s Calculations Regarding Available Cash are Wrong and Misleading

As further explained in the new letter to common shareholders, there are three key significant miscalculations by the dissident. These miscalculations undermine the dissident’s argument that the RGMP Transaction will result in the overcapitalization of GMP.

Don’t accept the dissident’s dubious claim that he can renegotiate the terms of the RGMP Transaction to include a $40 million GMP common share buyback and still hold Richardson Financial Group Limited (“RFGL”) to the concessions it made to GMP’s Independent Special Committee.