wah nam, page-39

Wang Chung, now obviously a large shareholder can wield influence and consequently remove those directors that are anti take over (if you exclude duty of care issues of advising a dud deal)

We are fortunate that most of the board owns large parcels and probably would not accept themselves. Wah Nam would need to remove the whole board, put in a puppet board then convince all Aussie holders to accept.

I really do not see that happening by December honestly and the damage it would cause to the development of the project would be immense to loose all that talent.

Really even if they did remove the board, I could see them still not obtaining the required number of shares to get to 90% and the company being in zombie mode for a long time.

That is why it is in the best interest of Wah Nam to move this along honorably either offer a fair offer or continue the project to production.