How do holders see this playing out - happy to hear from those more knowledgeable.....
If FFX put a sale offer to SH, will it be voted on by Ordinary (50%) or Special resolution (75%) of voting.
I believe normally a sale would go through as ordinary, however in this case a vote against effectively is a vote to wind up the company (distribute cash and escrow). A wind up is generally a special resolution vote.
The Funds (Van Eck & State Street) holding FFX stock would want liquidity immediately in order to comply with the funds constitution, and there would be a mix of shareholders/ directors etc. that could swing either way....
Interested to know whether a sale transaction would require 50% or 75% SH support...
As to tax situation, I believe FFX or an IE would need to outline the expected tax position impact on holders to be able to recommend.
FFX Price at posting:
20.0¢ Sentiment: Hold Disclosure: Held
