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I’m no expert on this stuff by any means, but wouldn’t the...

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fatbuuoy

274 Posts.

96

05/07/22

19:03

Post #: 62386165
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Originally posted by Taurean7: ↑

“...at least 50% of all shareholders who vote...”

The headcount vote criterion is a little more complicated than that TT. From page 7 of the amended Deed:

Headcount Test means the requirement under section 411(4)(a)(ii)(A) of the Corporations Act that the resolution to approve the Scheme at the Scheme Meeting is passed by a majority in number of ResApp Shareholders present and voting, either in person or by proxy.

I have emphasised the word ‘present’ above, which I take to include online attendance, but also that it will require actively casting a vote online when invited to at the time by the Meeting Chair.

This suggests to me that votes recorded by Automic may count only towards the 75% shares voted (poll) criterion. If so a group ‘attendance’ strategy will be required.

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I’m no expert on this stuff by any means, but wouldn’t the automic etc votes be the proxy?

In any case, it’d be great to have this properly clarified so that we’re all aware of the exact way the vote goes down, if it indeed is the way you interpret it, it’s quite significant.

RAP Price at posting: 13.5¢ Sentiment: Buy Disclosure: Held
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