TON release research report

If a takeover is undertaken by scheme of arrangement (SOA) then that 10% consideration is not relevant.

Under a SOA there is a shareholder meeting convened where,  if the takeover proposal is agreed to, it becomes binding on all shareholders regardless of whether they voted at the meeting or not.

For the proposal to be agreed to it has to pass both of two voting tests.....

Firstly, a majority of shareholders voting (either in person or by proxy) by number must vote in favour.  That is, for example, if 121 shareholders vote at the meeting then 61 must be in favour.

ALSO

Secondly, 75% of of all votes cast must be in favour.  That is,  for example, is those 122 shareholders hold 60 million shares (equating to 60 million votes) then 45 million of those votes plus one must be in favour.

The other protection for shareholders its that the Board must recommend the SOA or not.  And any members of the Board who are associated with the corporate suitor cannot participate in formulating that recommendation.

Considering that TON has received an independent valuation of at least 22c per share then it would be very difficult for the non-aligned Board members to recommend an offer of, say, 10c per share.  Good thinking PC to get that valuation out....nice move.

I have started a new thread for this post hoping that the title can live on for a while.  Those who are new to TON may have missed the recent announcement ab0ut the valuation so it would be great if we can keep this post title front and centre.

TON VALUATION - CLICK HERE.....http://www.tritonminerals.com/wp-content/uploads/2017/07/Updated-Research-Tritoninitiation180717.pdf