Thanks Bubby for answering.
My interpretation was that the following sentence from the constitution meant that a proxy can only vote yes or no, but for unlimited members, but they cannot vote yes for some members they represent and no for others? A proxy may vote on a show of hands but a person holding a proxy for more than one Member has only one vote.
If your interpretation would be correct this would need all small shareholders being either themselves or a proxy physically at the meeting which would potentially make the meeting very big and/ or eliminate the shareholder rights to a minimum.
With the Senior Lenders having 34%, and the 2 Todds and Republic Management about 14% together, we would need to mobilize >20% of small shareholders to vote against if we assume that only the SL vote for and the Todds and Republic Mgmt would vote against the SPA. I think the Todds where buying at a shareprice of about 5ct AUD.
I am still hopeing that there will be a superior offer emerging, because Cobalt opportunities and mature copper projects are rare at the market at these price points. As a major player, you would need to offer 100M $ , restructure the debt as they can refinance much cheaper and you have a very profitable asset that immediately adds to your top and bottom line + the cobalt dreams. Difficult to find these days.
- Forums
- ASX - By Stock
- TGS
- Ann: TGS Lender Voting Intention Statements
Ann: TGS Lender Voting Intention Statements, page-6
-
- There are more pages in this discussion • 45 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add TGS (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
JBY
JAMES BAY MINERALS LIMITED
Andrew Dornan, Executive Director
Andrew Dornan
Executive Director
SPONSORED BY The Market Online