That is an example of Democracy, not the definition. By that...

That is an example of Democracy, not the definition. By that definition the USA is not a democracy, nor most state elections in Australia, because they run on four year cycles.

The SoA vote was democratic, because in the count of shareholders each shareholder was worth one. That the requirement to win a vote was 75% rather than 50% does not make it undemocratic, otherwise our referendums would not be democratic.

MB and the BoD new the thresholds they were required to achieve to get a yes vote. They chose to go against those, risking it at 20c rather than maybe sweetening the pot a little more to get a few more yes votes.