One thing that was revealed in the booklet, that could have...

One thing that was revealed in the booklet, that could have swayed some shareholders, was the little item that mentioned in passing, that in the event of "shareholders failing to approve" the takeover (more on that below!), the company would have to stump up $1,200,000!

If shareholders successfully vote NO, they are not "failing to approve" the takeover, they are REJECTING it, because they don't see it as being in their interest to do so!