Cineplex Odeon Puts Off Shareholder Meeting Till June 6

Embattled Cineplex Odeon Corp. said today that it has postponed its annual shareholders meeting until June 6, a delay of nearly a month.

The move from May 9 will give the company time to inform shareholders about “certain events” that have happened since the original meeting circular was mailed out, the company said in a statement.

Analysts believe that Cineplex Chairman Garth Drabinsky may be trying to raise more than $664 million to buy outstanding shares and overall control of the company.

Drabinsky last week called a truce in his bitter battle with Los Angeles-based MCA Inc., a major shareholder, that was sparked by his attempt to buy a controlling interest in Cineplex.