Harry I think the issue Singa is referring to, and I have just spent the last several minutes reading those rules so don't profess to be an expert in any way at all, and happy to be corrected if I have got it wrong, is not the loan itself, but the fact who it is from.
I suspect the Vibe deal would not have required shareholder approval because Vibe wasn't a big shareholder of Empire. I think the issue is that MIN actually is, the same as ERM was a couple of years ago when we bought their interests... I think this rule seems to suggest that in order to make sure its fair and reasonable and not skewed too much in the favour of a big shareholder, related party or associate and even a child entity, which I think is code for subsidiary which I find interesting.... unless of course shareholders of a child entity are different to those of I assume "parent" entity.
Either way, if the deals a good deal then surely shareholders will vote it through anyway, and if its not then shareholders will vote it out and it shouldn't have been put up anyway...
I don't see any harm in a vote... if its an actually good deal when you get to see all the bits and pieces like with the ERM transaction then I will have no problem voting for it....and will be the first to say so on here if that is the case....its not like I voted for one of the minor political parties the other day because if I did I wouldn't want to tell anyone......else I could get blamed for the mess that be coming our way![]()
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