Ann: Court Approves Convening of Scheme Meeting, page-15

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08/06/25

15:10

Post #: 79361387
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Originally posted by triage: ↑

If you don't vote, you don't count.

For the purposes of the scheme, the two thresholds only factor in those SPR shareholders who vote (number of shares those voting shareholders own, and number of shareholders who vote)

If the scheme does not get over the line then Ramelius can start buying SPR shares from holders under the same conditions - for each SPR share $0.25 in cash and 0.6957 RMS shares - as long as it got at least 50.1% of the total number of votes cast regarding a takeover.

Have to say the advisors must be getting paid by the number of pages in the booklet: 713 pages (a goto for me, the independent expert's report kicks off from page 270 of the package)... ...Bloody hell!, add that to how long time-wise these schemes of arrangement take - in this case about 4^1/2 months for Ramelius to buy what is essentially a single mine operation - and these deals are getting bogged down in legalese and bureaucracy. Surely, there can be short form options available when both boards want the same outcome?

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Thanks @triage. I believe the convention is that RMS does not vote its ~20% shares. Thus the Scheme will require 75% of the 80% remaining (100-20%) or 60% of the remaining votes. Most of tis 20% gap (100%-20%-60%) was pledged by the three big SPR shareholders.

SPR Price at posting: $2.21 Sentiment: Hold Disclosure: Held
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Ann: Court Approves Convening of Scheme Meeting, page-15

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