There was no shareholder vote, there was a board recommendation. I have no idea what went on in the board meeting obviously, but the cons min board member claims he was voting as a BCI director and this was not to be read that cons min would support the bid. This has been stated, whether it is true or not I don't know. I would imagine that when the ind exp report was released and stated that it was neither fair nor reasonable, then cons min would have declared their position. This may well be what happened and why the board u-turned their position.
As to what % holding in BCi the 2 large shareholders have, I have no idea. If between them they own over 50%, then that is control and that would be disappointing. I'm not sure that it is legal either.
BCI Price at posting:
$2.85 Sentiment: Buy Disclosure: Held
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