Can you quote or give ref to the ‘news story’ you refer to. Origin stated it was ‘unlikely’ (certain is probably closer to reality) to achieve the required 75% support of SHARES that vote being favour (due to opposition of Aust Super and some other large holders)..... that is probably the basis of the 70% support you refer you.
Pretty well all of the ‘news’ and ‘commentators’ never mention that 50% of shareholders (1 HIN counts as 1 vote) MUST ALSO be in favor for SOA to proceed. With over 100k small retail holders, (unfortunately many will not cast a vote), there is every chance that their votes (on shareholder count) could well block the deal. Often its an ‘inconvenient truth’ to talk about this 50% shareholder support condition. The big holders / ‘suits In the room’ like to think ‘they run the show’, but EVERYONE should be very aware that at a SOA meeting, on the SHAREHOLDER support count, ALL shareholders are peers (equals). It is about the only situation this is case with shareholder meetings.
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