One other point: I believe that Shagang is NOT allowed to vote on the Offtake Resolution (please correct me if I'm wrong).
So, as they own about 48% of shares, that means about 52% are available to vote. So if a little over half vote against it, which is a bit over 26%, then it will be defeated. I would like to see that happen. There are other tricks they can play but perhaps they might show a bit more respect to minor SHs in future.
Shagang Offtake, page-20
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