Not a sure thing by any stretch. How many yes votes are left once all dissenters are cleared off the table?
I believe they have to start a new vote and solicitation. All dissenters cannot vote pursuant to the Yukon Corporations Act (s. 193(6.1)(a)).
So do they believe they can siphon off enough potential no votes by dissent and abstention by dangling the carrot of their enhanced dissent promise of part payment to otherwise carry the vote?
Just vote NO. But maybe they have counted up the remaining proxies and believe if they take a complete re-vote it will still succeed, because the thresholds are “of the votes cast”.
“ To be effective, the Arrangement Resolution must be approved by (i) at least two-thirds (66%) of the votes cast by Shareholders present or represented by proxy at the Meeting, voting as a single class; and (ii) a simple majority (more than 50%) of the votes cast by Shareholders present or represented by proxy at the Meeting”
Divide and conquer, I’ll give them that is a proven strategy, if it flies.
cg