From SGH presentation:
If the requisite shareholder approval (at least 75% of shareholders by value & 50% by number of shareholders who vote) is not obtained at the Scheme Meeting, SGH’s control of Nexus’ senior debt will enable SGH to control the voluntary administration called by Nexus’ directors.
Should we be worried about this 'control' if it goes into administration, will we be shafted anyway? Aside from SGH being ahead of shareholders for recovered funds.
we are not schmucks, page-4
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