Sorry if I'm falling over my words, or not using correct terms. I've got the flu. I'll need to find the appropriate article. If I can paraphrase in the meantime,
Regent put forward the proposal. The board asked for a vote on the proposal. The board asked for atleast a 50% acceptence on the proposal.
Let's say, there's 95M (approx) BCI shares at that time -- 20/01/11. The board was looking for support from persons whom had the voting power of 47.5M (approx) shares in BCI, present at the meeting. Those present at the meeting were the board (3.4%), Consolidated Minerals (Retail, 21.9% at time) and Regent Pacific (Retail, 19.9%). Those three "entities" present at the meeting had the voting power to pass the proposal "greater than 50%".
Bye
BCI Price at posting:
$2.85 Sentiment: Buy Disclosure: Held
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(20min delay)