GB Group Ord Shs GBGPF

RE:RE:Aurora warns it will walk away if CanniMed buys Newstrike

[thorgb1]

VENMan wrote: What I don't understand is the following from the CMED news release:

Completion of the Arrangement is subject to the approval of shareholders of both companies at special meetings of the shareholders of each company. Newstrike will require the approval of 66 2/3 per cent of the shareholders that vote, by person or in proxy at the meeting, as well as a simple majority of the shareholders that vote, by person or in proxy, at the meeting, excluding certain insiders. CanniMed will require the approval of a simple majority of the shareholders that vote, by person or in proxy, at the meeting. Both companies will be communicating the timing and conduct of those meetings which are expected to be scheduled for early January 2018. Closing of the transaction is anticipated to occur in January 2018.

So, lets say by Jan of the 23 million shares outstanding 22 million are committed to the ACB Offer, can the 1 million shares left that want the deal with HIP still approve and pass the CMED & HIP merger because it is a simple majority of the shareholders that vote and those committed to ACB can't vote? Thoughts please, ALL IMO! 

Interesting line right above your highlighted section......"excluding certain insiders". Does this mean that the insiders representing "the 38%" are excluded from participating in the vote?