I suspect the voting went something like this:
FOR: 60%
Karl Jacoby (Exec Chair & largest shareholder) ~25% (of total shares)
Len Hoeksema (2nd largest shareholder) ~15%
Others 20%
AGAINST: 20%
ABSTAIN/DID NOT VOTE: 20%
40% of shareholders did not vote in favour of this most fundamental proposal. It passes solely due to the votes of the Chair - massive responsibility to now make this decision a success for all shareholders.
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- Ann: Results of Annual General Meeting
Ann: Results of Annual General Meeting, page-5
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