You are probably confusing yourself with a scheme of arrangement vote which is basically a vote on a takeover which requires 75% of the votes cast on the resolution; and more than 50% in number of the target shareholders voting on the resolution.
a disposal of asset resolution like this one requires 50% of the votes cast on the resolution (noting that SRK and management hold 30%+ of shares).
a caution on trying to be smart and wanting to stop the sale in the vote without a backstop - you will end up with a company with endless dilution like agy, lke and now gln. Yes the sale price is crap, but the share price goes <20c if it gets voted down.
Your effects are better spent on
- trying to find a white knight at the corporate level who will launch a hostile takeover (and who will aim for 50% of the shares at first)
- trying to persuade the board to hand back cash or wind up the company after the sale and axion ipo is complete. To put a resolution at a meeting, you first of all need 100 shareholders or 5% of shares to sign off on it, and then it gets voted which requires 50% of the votes cast
SRK's 30% stake is still a problem but not insurmountable
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You are probably confusing yourself with a scheme of arrangement...
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Last
35.0¢ |
Change
0.020(6.06%) |
Mkt cap ! $39.20M |
Open | High | Low | Value | Volume |
33.5¢ | 37.5¢ | 33.5¢ | $50.80K | 139.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 7750 | 35.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
37.0¢ | 53000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 7750 | 0.350 |
1 | 8826 | 0.340 |
2 | 2001 | 0.330 |
1 | 3076 | 0.325 |
2 | 13000 | 0.320 |
Price($) | Vol. | No. |
---|---|---|
0.370 | 53000 | 1 |
0.375 | 41902 | 2 |
0.380 | 1724 | 1 |
0.400 | 12552 | 2 |
0.420 | 2702 | 1 |
Last trade - 15.20pm 23/08/2024 (20 minute delay) ? |
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