Question re loan voteThe question I'm asking is quite naive so bare with me please.
Prior to the special meeting on August 13 an information circular will be sent out by RVX. It probably will define who the eligible voters will be in terms such as "shareholders on such and such a date will be eligible to vote on the resolution". This will probably be a date established prior the circular is sent out.
In very rough numbers the vote will be based on the following:
- outstanding shares - 85mm
- Eastern shares - 15mm
- voting shares - 70mm
- NGN - 8mm
- Don - 3mm
- Dir and officers - 1mm - based on the June financing only...i.e. not what they already owned
- These 3 groups = 12mm or 17% of the voting shares.
- This leaves 58mm shares.
- Other insiders and related insiders - ??????? I have no idea so big guess - 8mm. So these groups could account for 29% of the voters (recognizing I made up the insider guess.
- 71% are open to vote the way they want.
I have no idea at all of how this 71% or whatever the real number is held. I'm guessing these shares are widely held by investors that want to see RVX move forward.
I have just assumed that everyone will vote in favour of this financing plan.
Can anyone think of why or who would vote against it? Would anyone or group attempt to purchase large blocks of shares prior to the vote cut off date?
Cheers
Toinv
P.S. By the way I'm not a conspiracy theorist although my posting looks pretty foolish. Apologies!