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clock Created with Sketch. 28/05/21
11:32
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Originally posted by Rickk:
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Even we can call up a EGM, we need to have 75% shareholder approval to pass anything against Jigao who holds 34% so it is impossible to win. The Jigao subscription agreement includes a clause outlining that Jinan will use its reasonable endeavours to assist the Company in the finalisation of the debt or other financing facilities required to construct the Ancuabe Project. This will include introducing the Company to potential strategic investors, financiers or other providers of capital who may be interested in providing capital to the Company. It appears that the only way out of this (if no finance eventuated in near future), a legal battle is needed to contest the facts around what the "reasonable" endeavour are and hopefully TON can void the agreement and make some of Jigao's shares be forfeited to bring down their shares below 25%. Then we can be free again from the Chinese shackles. My opinions only.
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Isn't it 35% as long as no one else adds to their vote?
