In my opinion, If No wins then the impact of UT Tractors Cash injection
will make our Balance Sheet super stable. We will survive the lowest
of NPI prices and If NPI recovers, it will boost our dividends. We will
be debt Free. If Yes wins, then there are chances that no Divi for 2 years
depends on our earnings. Maybe institutions won't like it.
If Shanghai Decent 25% won't be able to vote.
Then 75% eligible to vote.
UT already have 20%, rest is 55%
UT % = 20/75 = 26.67% Voting Power
Rest = 55/75 = 73.34% Voting Power.
If UT vote NO, then it just takes 25% * 55% = 28%
It only takes 28% of the rest of sh(55%) to tip this into 51% No vote.
In other words it would be up to UT vote that will decide the outcome.
Ann: Notice of Extraordinary General Meeting, page-50
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