Bonavista Energy Corp T.BNP

RE:*BNP Update-Read this one in full*

[alkhor]

"As noted above, holders of 100% of the Senior Notes and approximately 21% of the Existing Shares have agreed to vote in favour of the Plan of Arrangement pursuant to support agreements entered into with the Company."

So the 21% os existing shareholders represent the BoD, including the 16% of G2S2. In order for this to pass, 66.7% of voting shareholders must vote in favour. Normally in a vote less than half shareholders usually vote, so that 21% represent allmost 2/3 of the votes needed, so the prospects for the average shareholder is not that good.

What really gets me is that George Ameron as a member of the Board of Directors is supposed to represent the interests of shareholders but obviously put his interests in front of the shareholders. Why criminal charges don't apply I don't know. He should be checing out the inside of Kingston Pen instaed of his mansion.