No to 7. No to 8.Resolution 8 asks us to allow RIM to increase...

No to 7. No to 8.

Resolution 8 asks us to allow RIM to increase their % ownership and voting rights up to 25.65%. Under ASX takeover rules they are entitled to hold more than 20% for up to 6 months - the rules would force them to sell the excess 84M shares.  Mgmt suggest this would put downward pressure on the SP, so it intrigues me why BRL haven't put forward a resolution seeking to buy the shares back. I also find it interesting that Resolution 8 presents downward pressure on the SP as a rationale for voting yes, but also allows RIM to hold onto the shares and voting rights regardless of whatever level the SP reaches... I'd be more comfortable if the vote was simply to give them an extension of ownership rights for 18months with sales being forced at set SP levels.

Resolution 8 lacks parameters to define and control future actions. It's poorly composed, perhaps deliberately, for the benefit of one party only.  

In addition the directors recommendations to vote yes on resolution 8 are based on the view that the potential increase to 25.56% ownership is not material  - well we all know where "the view" they took with L&M ended up, and the effect "the view' they had re RCPS had on the SP.