I am confident it its 75% of the shareholder base
1 share = 1 vote
Excerpts:
"The Scheme is subject to approval by Peak shareholders at the Scheme meeting, which is
anticipated to be held in September 2025. For the Scheme to proceed, the Scheme must be
approved by at least 75% of
all votes cast by Peak shareholders and a majority by number
of all Peak shareholders present and voting (in person or by proxy) at the Scheme meeting."
"Chenguang and its related bodies corporate, holding 19.86% of Peak, will not be able to vote
with other Peak shareholders on the resolution to approve the Scheme.
"
If 5% dont vote yes ( a mere 4.5m worth) then the take over is rejected - then ?
1) Shenghe increases the offer (25% more will buy most)
2) They walk away, we go bust, they lose the big money they invested when the bought it off appian for 99c to get 19% - big kiss
3) They try to corrupt Tanzania but US focus in this area PLUS REE makes it pretty tough.
It is clear all roads lead to a take-over to which 5% of the shareholder base can get us a better premium. I am not worried but risk is always present (example, why arent we trading at 32c when there is a takeover at 35.9c - very rare to see)
(20min delay)