OTCPK:RDLCF - Post by User
Post by
SCVALINVESTORon May 30, 2022 10:53am
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Post# 34716848
Management info circular page 20.
Management info circular page 20.If I understand the second paragraph on page 20 correctly, the 4.9 million shares held by Pender and K2 (28.4% of the total 17.2 million outstanding) are excluded from the 66.6% voting requirement. This is because they are "interested parties" as a result of being also lenders to Redline who will be paid out due to a change in control.
This means that the two thirds approval has to come from all the other shareholders, including individual shareholders not happy with the deal.
It may not be a slam dunk after all!