Accepted that you didn't use the words veto and its incredibly unlikely to be documented that way even if that is the effect. Are we discussing linguistic semantics? Its fairly easy to get the situation on resolutions / special resolution thresholds whereby a shareholder with a large minority holding becomes the swing voter. If they vote for the resolution it can pass. If they vote against the resolution it doesn't. That was what I was meaning by Veto.
This happens all the time in takeovers with where a shareholder has 10% (or a group of shareholders have 10%). A hostile takeover will not succeed in getting to 90% and compulsory acquisition if there is a shareholder holding 10%. That shareholder effectively has a veto vote against the takeover. They don't have control over day to day decisions or anything that is a 50% threshold vote. They can determine some things that won't happen if there is a high vote threshold. Gina's shown many shareholders recently the power a 10-20% shareholdings can have if you don't want a takeover to succeed.
PLL Price at posting:
38.0¢ Sentiment: Buy Disclosure: Held
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