Yes, many small holders will not vote, for a variety of reasons. So, if the larger holders, excluding Shenghe of course, and others vote "For" and the vote comes in, in number of shares, at say 85% but less than half of all shareholders, by number, vote, say only 47%, the scheme will have failed. Both conditions have to be met, more than half of holders have to vote and the actual count of shares voted "For" has to be at least 75%, excluding Shenghe's lot.
I, for one, have just taken up my entitlement at 10c but am undecided, at this stage, whether to vote at all or to vote "Against". In short, I want a better deal and I am prepared to wait for one. What's another few months when I have been in this badly managed stock with a world class asset for 15 years already?
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