"should SUMI/CYP BOD go down the path of entering into an SPV (special purpose vehicle), which I believe they must to have any hope of getting this TO offer across the line, they would have to get the buy in of ALL of the major shareholders including FF, with the BOD influence stock wise practically inconsequential due to their relatively minor holding stock wise even after the whole loan for shares debacle (something many posters on HC have regularly derided Ross & his band of merry men about over the past 2-3 years)."
I'm interested in what you are saying but to me (special purpose vehicle) suggests a joint venture or some sort of legal structure like a company or partnership and I just don't see that as being necessary. I'm open to what you are saying. But confidentiality agreements - whilst there are negotiations ongoing towards contracts for the control of voting shares, and the contracts themselves (ready to go as a batch - ie ready to be signed together if Sumi gets the support it wants to have a crack (at the 75% and 50%) ) seem to me to be all that's needed in terms of legal structures. That seems to have been all that was needed in the WES approach to KDR.
Of course irrespective largely of how many shares the board of directors have they still have to be pursuaded or almost fully pursuaded first because their support is crucial - Sumi would be wanting the directors to recommend in very strong language in their communications to shareholders that shareholders accept the scheme of arrangement in the absence of a superior proposal and vote as the directors plan to do in the absence of a superior proposal for the scheme. Directors acceptance is necessary for propaganda purposes.
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