I went to the AGM of Yancoal at the intercontinental hotel in Sydney.
Shareholders please note the voting rights for YAL holders.
As A condition of the approval by the Commonwealth Treasurer of the merger of Yancoal and Gloucester coal, Yanzhou Coal must cast the votes attaching to any shares in Yancoal Australia that it holds ABOVE 70% CONSISTENTLY WITH THE VOTES CAST BY MINORITY HOLDERS OF ORDINARY SHARES.
This might be a low volume company but small sharholders can dictate to the parent company if we have 70% of emaining shares.
I believe the take over was a bad deal for Gloucester shareholders and they have lost most of there capital.
Yancoal produced 14.8m tonnes of coalin 2012 and produced a operating profit of $404m
1 Yancoal share = .91 Yanzhou CDI
OR .91C PER Yancoal which is a 30% premium
Yanzhou H shares being $7.09 H.K.
I went to the AGM of Yancoal at the intercontinental hotel in...
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