This is the gem I found . In Australia under section 411 of the Corporations Act 2001, for a Scheme of Arrangement to be approved at the Scheme Meeting, it must meet two conditions:
At least 75% of votes cast must be in favour
50% in number of shareholders present and voting (either in person or by proxy) must vote in favour.
For clarification, this is the number of individuals present by number (or proxy) not the shares they hold, even if one shareholder owns 90% of the shares they still only get one vote, often this is the reason why Schemes of this type fail to go ahead and the bidder then switches to a Takeover where the only requirement is 50.1% of shares voted but when this switch occurs there's a demand for a better offer.
I can post the entire research later.
MYX Price at posting:
$7.22 Sentiment: Buy Disclosure: Held
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