They need 75% - the top 20 is very sparsely spread - its almost certain given the emotions shared here today that alot of shareholders wont be voting yes.
For context - 2m shares is around 1% or was 200k.
I imagine alot of folk here hold that, lets say 7 of them dont approve, that drops us below 75%
Its not a done deal by any means, i strongly believe Shenghe will be up'ing the offer.
Also note, its a 1 to 4.5 share issue to raise 7.5m at 10c.
that means your holding cost will drop by 22 percent
Alot of people will still be negative but if you hold a buy price under 43c your breakeven (my calcs could be off on this).
Should we be breaking even after such a long f*ing journey - NO!
This board sold us out as they didnt have any other options, Shenghe played them like a flute. The implication here is China restrictions stopped Shenghe from investing to complete this? I call BS - They moved to buy it out...
PEK Price at posting:
32.5¢ Sentiment: Buy Disclosure: Held
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