So here's the number of shares the market has been notified are currently owned by MZ and Li Huang Cheng:
Total IMA Shares (ex. warrants) 1,010,935,677 1 Murray Zircon 232,409,537 22.99% 2 Li Huang Cheng 151,515,494 14.99% 3 Total 37.98%
Almost 40% if we assume Huang Cheng is on board with the proposal. Importantly the resolution seeks to remove Chaodian Chen who's founder of one of the other top 20 holders (Orient Zirconic Resources (Australia) Pty Ltd). Orient Zirconic holds 5% of the vote so can we therefore assume they aren't on board with the proposal?
Does anyone has insight on how many votes they need, do they only need more than 50% to pass the resolution? Where then is the other ~13% going to come from? I would assume they would not raise this proposal if they didn't know in advance that it would succeed.
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So here's the number of shares the market has been notified are...
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