It is an injustice that posters can continue to call into question the so called 90% rule in corporate law in Singapore, when it has been established as true so many times over.
This kind of behaviour ensures that HC remains a dangerous place to receive information, rather than being a community where we can engage in honest discussion to add value to our trading decisions.
The 90% rule was not 'posted just today' and I'm certain Kunleesp is aware of that. Most of us, myself included, first had our attention drawn to it on 20th March after Odin made this comment on their fb page, this page has in turn been endorsed by Gridcomm:
Odin Energy
20 March at 19:45 ·
Have had a number of emails and questions relating to the % of shareholder approval for the gridComm acquisition so posting the reply here. Corporation law in Singapore allows for compulsory acquisition after 90% shareholder approval. There is no impediment to the deal progressing.
Its great to have a diversity of opinion but dishonesty really grinds me. While its important to always DYOR as posters can be mistaken anyway, I do hope that nobody is influenced into making a poor decision due to deliberate attempts to mislead people.
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