Zijin is barred from voting as they are the acquirer. Conflict of interest.
They need 75% of the remaining shares. Zijin already have 540m of 900m shares.
Group X called the EGM back in 2016 with about 200m shares which is 22% of the registry. This is 58.8% of the remaining registry.
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- Ann: Proposal By Zijin To Acquire 100% of the Company
Ann: Proposal By Zijin To Acquire 100% of the Company, page-9
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