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Ann: 2015 AGM Chairman and Managing Directors Address, page-5

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swami2

1,087 Posts.

26/05/15

14:05

Post #: 15352975
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Originally posted by BlackPeter ↑

Interesting statement - where is the information that "most resolutions will fail" coming from? Do you have a special wire into the future?

What the chairman said was that " the resolution to renew the proportional takeover provisions in the Company’s Constitution" ... "is unlikely to be passed", given that this resolution would require acceptance of 75% of shareholders. Chatchai obviously voting against (with his 20%) - could theoretically leave 80% for, but we don't know yet how many votes they managed to mobilise.

I don't see any other resolution likely to fail (and certainly not failed yet) ...

Agree however that a fail of this specific resolution would make it easier for Chatchai to acquire another 30% in the cheap ... only if the other share holders stick together will they be able to fully enjoy TAP's underlying value instead of gifting their (and other share holders) money to a conflicted defaulter from Thailand.

Lets hope for the best ...

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Resolution 2 and 3 needs 75%. They wont pass.
Resolution 1 is the reappointment of Doug Schwebel which they also oppose.

TAP Price at posting: 34.5¢ Sentiment: None Disclosure: Held
1 Upvote

0 Great analysis

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