I think this is simple. To get the vote, the directors have to put a proposal to all shareholders that demonstrates that they are working in the interests of all shareholders.
If you vote yes without this then you are letting a small group of people steal the value of your holding from you.
I will be interested to see if the people behind this are really trying to:
- genuinely put this company on a respectable footing,
- act responsibly in the interests of all shareholders,
- put a fair proposal to all shareholders via a SPP for funds if this is required,
- communicate properly to shareholders.
Maybe BCM is in a position to loan the company funds if they control the board and can get the contract. The start up capital required is not that high.
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