OTCQX:MRVFF - Post by User
Comment by
tenbagger_pleaseon Jan 13, 2023 2:22pm
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Post# 35221881
RE:RE:RE:RE:RE:March 07 special meeting
RE:RE:RE:RE:RE:March 07 special meetingAnyone know how many shares need to vote "no" to block the deal?
From the press release:
must be approved by:
(i) at least two-thirds of the votes cast by Shareholders
(ii) a simple majority of the votes cast by Shareholders, excluding for this purpose votes attached to Company Shares held by persons described in items (a) through (d) of Section 8.1(2) of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transaction.
Management/Board/Red Oak already have 23.16% or 2.6 mln shares (of 11,388,000 s/o).
(i) 1/3 to block = 3.8 mln shares to block.
(ii) 50.01% to block. (Can this be interpreted as 11.4 mln shares less the 2.6 mln above?). = 50% of 8.75 mln shares = 4.4 mln shares to block.
Can someone confirm that the calculaton for (ii) is correct?
Any idea if 3.8 mln shares vote no? DM me if you want to do a tally on holdings to see if we can reach that number.