Yes that's correct. But the difference is it isn't conditional on any funding. Booth isn't just organising funding and getting a seat. He is actually providing the funding and the seat will be attached to his majority shareholding.
Nothing has ever prevented IG from acquiring a large holding and then getting a seat that way. Not to mention a large holding would also be a big headstart in any votes.
My understanding from the original RBS proposal is IG are only organising the funding. Maybe participating to a degree. But certainly not in the league Booth is.
The Booth proposal will skirt around 20% T/O rules and entitle him to oversee his investment.
It also means the time for IG to strike is now. Because if you think Alimold defeated you at the last EGM, then you have seen nothing. His holding will get a whole lot bigger moving forward. You can count on it. You wont stand a chance.
share consolidation, page-53
-
- There are more pages in this discussion • 23 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)