CorporateLaw.pdfCorporate law says they need a 75% majority of voted shares & also a simple majority of voting shareholders.
That means my potential no vote can cancel out RTG's yes vote despite the fact that they have many more shares than me.
Potentially, if we can get 40 to 50 committed no voters who disagree with the proposal, we can approach the TMT board with, in our opinion, a reasonable proposal to vary the merger.
With that many individual shareholders committed to voting no, if not more, they would be very silly to just dismiss us.
I am thinking 15/16 for 1 is a reasonable compromise for what we bring to the table.
- We have the premium part of the ore body with standard processing & Illmenite credits which will be mined at lower cost.
- We are well down the track to mine design & build once EPA approval is received.
- We are at the final stages of EPA approval.
- We have in principle support from the landowners for both ERD & financial recompense.
- We have an ongoing arrangement with TATA.
- We have approx $15m in cash
This could all work within Troydt's private group.
Food for thought
DYOR
