Ann: March Quarter Sales Results, page-56

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mja

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09/04/24

21:02

Post #: 73265772
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Originally posted by triage: ↑

BB - just to clarify your statement "More than 50% of all shareholders must be in favor (sic)". It's actually shareholders who vote and the number of shares owned by those who vote which decides this contest.

Typically very few shareholders bother voting on merger resolutions. Last year I was fairly sour about Allkem's planned merger with Livent and thought lots of AKE shareholders would also be motivated to vote. But on the day only 4% of the AKE registry voted and typically they were the ones with big blocks of shares as that 4% of shareholders held 53% of the issued shares. So, it would have taken only a touch over 2% of all the shareholders to vote down the merger but the ones who voted were overwhelmingly in favour of the merger. Bummer.

Good luck with the campaign to have the Silver Lake Red5 deal rejected. As it happens I think it is a strategically sensible move for Silver Lake - maybe two steps back to get a clear run into the bull market. I might start posting on SLR threads taking a bit of a different angle than the pitchforks and torches one that is dominating the threads these days. But for those of you aggrieved by the proposed merger by all means keep giving voice to your concerns.

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For SLR shareholders to approve the merger, one stipulation is 50% of shareholders need to approve. Each legal or individual entity gets one vote, so a holder of 1000 shares for this stipulation gets one vote, and a holder of 10 million shares gets one vote. The other stipulation is 75% of votes cast, weighted to size of the shareholding is required to approve.

I believe that if SLR shareholders voted down the merger, SLR would pop at least 10%.

Last edited by mja: 09/04/24

SLR Price at posting: $1.32 Sentiment: Buy Disclosure: Held
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