yes, that is correct. But, it is easy for someone to grab a tad over 10% if they wish - and, that would be a blocking stake.
In the case of where the company decided to sell out to a particular player -- ANY entity with over 10% has enormous power.
Where the power can be applied is if a bidder makes a bid on condition that it can get the whole show -- a blocking stake in that case has everyone by the short and curlies - if they want to cause trouble.
I fully understand that there is a friendly blocking stake in place right now - which is exactly why we have no problem with directors getting more stock as opposed to cash - because that only adds to our power.
We shall see how it pans out ----------- after all, Parsifal and I may be wrong - ICL and Egypt may be the best of mates hmmmm. One can only hope.
Pinto
AJX Price at posting:
69.5¢ Sentiment: Buy Disclosure: Held
