For a scheme of arrangement to be approved, for each class there needs to be 75% of the votes cast in favour together with at least 50% of the shareholders by number. As only votes that are cast that are relevant, if a13% shareholder voted against, then this may be sufficient (or very close to it) to achieve the 25% no votes out of votes cast to scupper the transaction. No doubt there would also be a few other no votes cast if there is a view that the price offered was unattractive.
This is quite a different process to a takeover offer and the 90% compulsory acquisition threshold.
News: ORG Australiansuper increases stake in Origin Energy, page-14
Add ORG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$10.08 |
Change
-0.010(0.10%) |
Mkt cap ! $17.36B | |||
| Open | High | Low | Value | Volume |
| $10.09 | $10.18 | $10.05 | $22.02M | 2.180M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 21607 | $10.07 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.08 | 3701 | 2 |
View Market Depth
| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
|
|||||
|
Last
$10.09 |
Change
-0.010 ( 0.36 %) |
||||
| Open | High | Low | Volume | ||
| $10.09 | $10.18 | $10.05 | 824023 | ||
| Last updated 15.59pm 14/06/2024 ? | |||||
| ORG (ASX) Chart |