Thanks for the perspective. Hope it benefits the original...

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brrrattt

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20/03/24

11:01

Post #: 72974040
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Originally posted by jellyroll: ↑

They need to give 3 weeks notice for the meeting so we will not be making the 3rd April record date deadline. Clearly something is being renegotiated, as why not just pull the trigger the drafts resolutions and notice have already been posted on the SEC database in the US.https://www.sec.gov/Archives/edgar/data/1279695/000143774924008100/ubi20240313_pre14a.htm
My guess is as it stands I don't think they can get it through a shareholder vote. They clearly anticipate an issue as resolution 5 is an adjournment proposal.

Viburnum will not be able to vote on the key proposals at the general meeting as they will be an excluded shareholder nor will their board director who holds shares in a personal capacity. That takes out @30% of the register and all who would vote yes. Of the votes that turn up at the meeting they need 75% to vote in favour to pass the resolutions. We also know a lot of retail do not vote their shares at the EGM.

I reckon that the overseas shareholders of who there are a decent number (we are a CDI for a reason) and who would not get the ability to participate, have more than enough votes to block this in its current form and there is some form of renegotiation on going to make this more palatable to them. The 3B identifies shareholders in Germany, United Kingdom, Hong Kong, Japan, Malaysia, Netherlands, Singapore, Thailand, Denmark and USA

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Thanks for the perspective. Hope it benefits the original pre-intention to raise stakeholders.

UBI Price at posting: 22.5¢ Sentiment: Hold Disclosure: Held
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