GREY:WFEMF - Post by User
Post by
74volframon Aug 17, 2015 5:05pm
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Post# 24025754
short takes on today's posts
short takes on today's posts- KSS (or Woulfe) do not know which way one has voted or how the vote is going. The vote is handled by Computershare, which is an independent firm specialized in these things. I thought KSS was following up on vote problems, but apparently they are doing a random survey of voters for Woulfe (I have not been contacted). KSS only knows what Woulfe has told them about (the institutional holders in favor of the merger). I would assume Woulfe is comfortable with that information to hold the vote in the first place.
- Here are the major shareholders of six months ago:
Dundee (now Almonty+Dundee): 16.4%
1832 Asset: 16%
Korea Zinc: 10%
Colonial First: 4.7%
Resinco: 5.3% (maybe less now)
First State (UK): 3%
US Global: 1.7%
First State (HK): 0.5%
Total seven largest owners (excluding Almonty+Dundee): 41.2% (It is more than 40% indicated in Chizzle's post, which leads me to believe Resinco has sold some of its shares)
- I do not think the institutional holders (large funds) pay enough attention to the Woulfe shares to vote against the opinion of the proxy firms ISS and Glass Lewis. The only potential holdout could have been Korea Zinc, but from Chizzles post it looks like KZ is also in favor of the merger.
- Looks like the individual shareholders (us) have up to 45% of the shares. In order for the merger to pass, 1 in 4 of the individual shareholders need to vote in favor of the merger. It is a reasonably low fraction. but one never knows who is out there and what motivates them ..
- It is certainly possible that someone else will develop the mine if the merger fails. In my opinion however odds are it will be no longer be our mine.