Why did Sherritt International reject Kyma Capital’s request for a special shareholder meeting to replace board members?

Sherritt rejected Kyma Capital’s request because, under Canadian law, the request was deemed ineffective — the company had already called its annual meeting, and Sherritt stated it would instead present Kyma’s proposals to shareholders at its scheduled December 15 annual meeting.

What is the nature of Sherritt’s relationship with Gillon Capital LLC, and why has it drawn scrutiny?

Sherritt entered into an exclusivity agreement with Gillon Capital LLC — a Texas-based family office linked to former Trump adviser Ray Washburne — to consider a proposal that would give Gillon a controlling stake in the Canadian miner; this has drawn scrutiny from bondholders and Kyma Capital, especially amid Sherritt’s financial distress, its halted Cuban operations due to U.S. sanctions, and its warning that its ability to continue as a going concern is in doubt.