Acamas,
My reading of the shareholder approval clause is that 2 requirements must be met:
[1] Greater than 50% of the number of shareholders who attend the meeting or submit proxies have to approve the proposal.
[2] Those shareholders must hold 75% of the shares voted.
If this is the case then institutions could be rolled by small private investors despite possibly having 75% of the shares voted.
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hardman resources limited
december vote, page-5
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