Ann: Adjournment of Scheme Meeting to a date to be determined, page-113

First 113 Last

Share
Profile

Follow
jcurve

3,903 Posts.

1333

25/08/22

16:01

Post #: 63323755
Share

Originally posted by MonteT: ↑

Did you ever read the scheme. The court has its discretion to approve the scheme

3 Requisite majority 3.1 In order for the Scheme to become Effective, the second resolution set out in the Notice of Adjourned Scheme Meeting must be passed at a meeting by:

(a) unless the Court orders otherwise, a majority of the number of ResApp Shareholders present and voting (whether in person or by proxy, attorney or, in the case of corporate shareholders, a corporate representative) at the meeting; and

(b) at least 75% of the votes cast on the resolution.

3.2 The Court has the discretion under section 411(4)(a)(ii)(A) of the Corporations Act to approve the Scheme if it is approved by at least 75% of the votes cast on the Scheme Resolution but not by a majority in number of ResApp Shareholders (other than excluded shareholders) present and voting at the Adjourned Scheme Meeting. 3.3 Voting at the Adjourned Scheme Meeting will be by poll rather than by a show of hands

Expand

Of course, but it's not the norm for the court to interfere.
Why bother having a vote if it were a common occurrance for the court to intervene.
It's merely a safe-guard.
I was just pointing out that your statement was incorrect.
(Unless the court overrides the vote)
What makes you think the court will override the vote in this case?

RAP Price at posting: 19.0¢ Sentiment: Hold Disclosure: Held
Upvote

0 Great analysis

Reply