With a shareholder vote to approve a scheme of arrangement 2 prongs need to be satisfied:
1. 75% shares voted in favour and
2. 50% of voting shareholders in favour
The 2nd prong intends to protect small shareholders if they are informed and vote.
Getting a list of shareholders and their addresses is a simple inexpensive matter, about $500 i think. Sending letters costs a bit - say about $5-10 per letter if we get a share registry to do it.
I have gone down this path before with Netcomm Wireless but was rushed and missed with 41% against on the 2nd prong.
I have a small SLR holding but happy to support a move to inform shareholders of this nonsense deal and put the board under pressure.
It's interesting that SLR shareholders have a say and RED s/h do not, and it could be a whole lot of fun to disrupt this deal.
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