Interesting results, maybe a deal was done with some non-Yu Yuxiao aligned chinese shareholders for NC's head in exchange for not voting the non-board recommended nominees?
I just rechecked the 20 major shareholders as of 28th Sep 2023 in the last annual report and it looks to be very heavily skewed to obviously chinese interests and big nominee company accounts, No1 holder is Citicorp Nom PL with 13.87%, which must be holding most of the Yuxiao Fund's 9.81% interest as the next largest holder listed is Vastness at 6.34%. The top 20 hold 63.07% (3,730m) of the shares, and apart from Iluka's 2.11% they may well all be chinese controlled...so they haven't voted as a block.
While we are in the realm of the maybes, maybe NC's resignation was not all due to an evil chinese conspiracy, maybe he actually wanted to put his feet up and spend more time with the family and horsies on his stud farm, particularly as his oppy deals with Yongquan He and Yuzhen Ma ended out of the money so he had no real skin in the game anymore?...pure speculation on my part!
I'm not sure why they say that Resolution 8 (the 10% additional placement facility) wasn't passed, it looks to have clearly more Yays than Nays (56.95% v. 43.05%), maybe a typo?
One thing for sure, with all the publicity we are currently getting (I haven't read the Robert Gottliebsen piece yet, hopefully he gives us a nice AR3 style pump!) and all the non holding resource nationalists now posting on this thread, maybe even the forced disposees will end up making a little profit on the deal...DYOR & GLTAH!
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