What happens if shareholders vote no?
With the current offer, English is fine, retaining his holding. Other shareholders get a half-decent, but pretty weak result (big losses for most of us).
If shareholders vote no, the board (and the banks) have to consider whether to liquidate or do something else.
If shareholders vote no, English will be risking going to 0, instead of currently shareholders accepting $0.70, him not accepting $0.70, and him retaining his ownership. You'd think he'd be encouraging the board to come up with a better solution than him and us both losing, instead of currently only us losing.
What happens if shareholders vote no?With the current offer,...
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Change
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Mkt cap ! $7.102M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
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| Price($) | Vol. | No. |
|---|---|---|
| 16.0¢ | 1447 | 1 |
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