RAP 0.00% 20.5¢ raptor resources limited

Vote NO Pfizer offer, page-89

Currently unlisted. Proposed listing date: 4 SEPTEMBER 2024 #
  1. 28 Posts.
    lightbulb Created with Sketch. 1
    My reading of that document is that the "votes" are per share,

    So e.g. if a company has 1000 shareholders, then to pass a TO you need
    1. >=500 shareholders to vote their shares, and
    2. the total shares of those that vote YES must be 75% of the total shares owned by all who vote

    To support my interpretation, from the document, ...
    "... if the [TO] bidder already holds a large percentage of target shares, this may be a disadvantage under a scheme because those shares will not be voted to approve the scheme and therefore enlarge the effective vote of all other target shareholders on the scheme resolution, potentially making it more difficult to pass by the requisite majorities; and..."

    i.e. it's the shares that are voting, not the bidder
 
watchlist Created with Sketch. Add RAP (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.