Also be mindful of the following (see p22 of the scheme book)
For the Share Scheme to be approved by Kingwest Shareholders, votes in favour of the Share Scheme must be received from:
a majority in number (more than 50%) of Kingwest Shareholderspresent and voting at the Share Scheme Meeting (in person, by proxy, by attorney or, in the case of corporate Kingwest Shareholder, by corporate representative); and
Kingwest Shareholders who together hold at least 75% of the total number of votes cast on the Share Scheme Resolution.
So importantly for the scheme to be approved, votes in favour of the scheme must also be received from more than 50% of the voting shareholders. Therefore, approval of the scheme is not just subject to more than 75% of shares cast in favour, so proxies received from small shareholders are equally as important.
KWR Price at posting:
3.5¢ Sentiment: None Disclosure: Not Held
