Under the ASX Listing Rules Resolution 3 is required to be passed as a special resolution which means that it must be approved by at least 75% of the votes cast by members entitled to vote on the resolution.
Therefore a voting bloc of >=25% would be needed to stop the resolution (and I'm assuming the Chairman and Directors - who speak for ~25% of the total shares are not precluded by way of conflict of interest from voting their own shares).
TCN Price at posting:
4.0¢ Sentiment: Sell Disclosure: Held
