AGI Chart. What next?, page-48

I should add that it was highly likely that a number of major holders were voting in favour of the Novomatic purchase. Referring to "NOTICE OF GENERAL MEETING AND EXPLANATORY STATEMENT" the top 20 holders look like this:

AGT Shareholders as at 4 March 2016 Rank Name Shares % held
1(1) Mr Len Ainsworth 157,648,640 48.87%
2 Votraint No 1019 Pty Ltd 28,719,638 8.90%
3 Citicorp Nominees Pty Ltd 18,517,421 5.74%
4 HSBC Custody Nominees (Australia) Ltd 16,036,192 4.97%
5 JPMorgan Nominees Australia Ltd 10,154,049 3.15%
6(1) Associated World Investments Pty Ltd 9,665,240 3.00%
7 National Nominees Ltd 7,224,287 2.24%
8(1) Baclupas Pty Ltd 4,654,043 1.44%
9 AMP Life Limited 3,680,157 1.14%
10 National Nominees Ltd 3,020,517 0.94%
11 BNP Paribas Noms Pty Ltd 2,660,379 0.82%
12 Writeman Pty Ltd 1,900,000 0.59%
13 UBS Nominees Pty Ltd 1,816,538 0.56%
14 Trinity Management Pty Ltd 1,130,678 0.35%
15 Merrill Lynch (Australia) Pty Ltd 1,094,129 0.34%
16 Casola Holdings Pty Ltd 1,070,000 0.33%
17 Mr Christian John Hastings Ainsworth 770,650 0.24%
18 BNP Paribas Nominees Pty Ltd 754,381 0.23%
19 Mr Sasha Alexander Cajkovac 690,000 0.21%
20 Miss Pattarawadee Smarnkeo 684,999 0.21%

Total top 20 shareholders 271,891,938 84.29%

Top 21-50 shareholders 8,555,310 2.65%

Remaining shareholders 42,119,128 13.06%

Total all shareholders 322,566,376 100.00%


If you remove Mr and Mrs Ainsworth's holdings (amounting to approx 60%) it is mathematically impossible for the yes vote to have passed without top 20 support. The conclusion is quite simple - a sizable number of shares from the top 20 holders (which I suggest is no one on this forum - although please inform me if I am wrong) voted in favour of the Novomatic resolution.