Under schemes of arrangement, 75% of all shareholders who cast a vote must vote ‘yes’ (regardless of size of holding) for it to pass. This ensures the little people get a say. Thus it’s essential that people vote. My opinion (not advice) is shareholders should cast their vote directly rather than delegating the decision to the Chair of the Independent Board Committee.
At least 50% of eligible shareholdings must vote yes (this is where the instos are influential).
ZNT Price at posting:
$1.41 Sentiment: None Disclosure: Held
