RE:RE:RE:MWX.RT SELL tsunami coming?Mgmt is given a live tally of the votes in any procedure whether rights, or an agm. It is only people who don't know how such matters are conducted that think agm results are withheld by Computershare until the last moment, so Greg hasn't wasted any admin time phoning 80% of the shareholders.
A hostile bid or dissident shareholder's group is also kept abreast of the count so either side doesn't waste time campaigning if their cause is lost.
Similar situation wrt rights, because if they aren't being taken up by shareholders, mgmt needs to know now so they can make plans like digging into their bank accounts to take it up themselves now or finding someone else who will - knowing the count is not something that sb dumped on them out of the blue in March after it is too late.
The chances of anyone getting many oversubscription shares dwindles daily because people who have bought them in the market can't cast their bids until they are done buying, so that might be another big block to add to the 80%. So small shareholders dreams of getting large amounts of shares from oversubscription will hit the roadblock on the day the count is revealed.