1. PIC
95M
1 2. Noble
79.7M
2 3. Shinto Torii
62M
3 4. Valu
22.7M
4 5. BNP
21M
5 6. Yapp
19M
6 7. Integrated
18.3M
7 8. Leigh
16.4M
8 9. Peter
16.0M
9 10. Bantal
12.2M
10 10-20 Peoples Board
22.6M
11 Leigh’s close contacts
Minimum 12.0M
12 Peoples Board - Balance
28M
13 FWT
26%
Top 3 Shareholders
Excluded to vote at the EGM
237M
1 Total shareholders
ResGen
581M
2 Participation of Votes
Estimate voting; Inc 2015 spill
320M
Expected Voting
1 Historical Votes
‘Participation of Votes’ less ‘Top 3 Shareholders’
320M – 237M = 83.3M
2 Add (Exclude Peoples board)
Top 10 Roadshow not taking place
Add 4,5,6,10 = 157.5M
3 Total
We could also assume that 50% of the ‘Add’ would be excluded i.e.
1. They vote with us
OR
2. They are a part of the historical votes
(50% x 157.5M) + 83.3M = 162.1M
Outcome / Voting
1 Peoples Board (PB)
Top 10, 20 and SMSF’s / Other
83.6M
2 Paul Jury (PJ)
19M
3 Total Votes (PB) + (PJ)
102.6M
4 Result
Without Jury = 83.3M /162.1M
EGM-52%
5
With Jury = 99.6M/162.1M
EGM-61%
The voting at the EGM is in your hands, and we have circa 15% (largest holding) post EGM.
This table has changed slightly from my calculations early last year, but the table above gives you an idea. All votes will be valuable. But, lets wait for the board to provide feedback on all raised concerns before finalising our decision. As it stands and in the absence of information, I am 'no'.
