Turn out the lights, the party's over..., page-20

The short answer is yes but it can depend somewhat from case to case. In regards to SGI, I gathered the below highlights from the the Management Information Circular. Point 19 of the Court Order states that proxies that are properly signed and dated but which do not contain voting instructions shall be voted in favour of the Arrangement Resolution. It's not even known for sure that the 'No' retail votes will even be valid as those folks could spoil their votes by not registering and filing properly. Some of the dissenting retail shareholders do not even know that the odds are stacked up against them, but discussions in an echo chamber give them a false sense of confidence. Greywolf ended its communication with "subject to further review of the management information circular and/or other relevant information that becomes publicly available" and I think they will change their vote to be in favour of the merger or abstain because it is clear that no other entity will be offering a better deal than CYL.

WHERE NO CHOICE IS SPECIFIED, THE PROXY WILL CONFER DISCRETIONARY AUTHORITY AND WILL BE VOTED FOR EACH OF THE MATTERS IDENTIFIED IN THE NOTICE AND DESCRIBED IN THIS COMPANY CIRCULAR. THE ENCLOSED FORM OF PROXY ALSO CONFERS DISCRETIONARY AUTHORITY UPON THE PERSONS NAMED THEREIN TO VOTE WITH RESPECT TO ANY AMENDMENTS OR VARIATIONS TO THE MATTERS IDENTIFIED IN THE NOTICE OF MEETING AND WITH RESPECT TO OTHER MATTERS WHICH MAY PROPERLY COME BEFORE THE MEETING IN SUCH MANNER AS SUCH PERSONS IN THEIR JUDGMENT MAY DETERMINE. AS OF THE DATE OF THIS COMPANY CIRCULAR, MANAGEMENT OF SUPERIOR KNOWS OF NO SUCH AMENDMENTS, VARIATIONS OR OTHER MATTERS TO COME BEFORE THE COMPANY MEETING OTHER THAN THE MATTERS REFERRED TO IN THE NOTICE.