You only need to be the largest shareholder to gain control of the board. You don't need to own >50%.
Upon completion of the Proposed Cooperation, Yankuang Energy will become the largest shareholder, be able to nominate the majority of the Board of directors, obtain control of Highfield and will consolidate the accounts of Highfield.
Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-5
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