OTCPK:NNDIF - Post by User
Comment by
Eric1212on Jan 23, 2023 12:05pm
119 Views
Post# 35239954
RE:RE:Vote calculation
RE:RE:Vote calculation"
- Required unitholder and court approvals: The transaction will become effective only if, at a special meeting of unitholders called to consider the transaction, it is approved by (i) 66 and 2/3 per cent of the votes cast by the holders of the fund's priority units and special fund units voting as a single class, and (ii) a simple majority of the votes cast by holders of the fund's priority units and special fund units after excluding votes from certain unitholders, including Glencore, and, after considering the procedural and substantive fairness of the transaction, by the Ontario Superior Court of Justice (Commercial List).
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It's seems that this offer wasn't even intented to pass. There is no way that 50 % of non glencore vote casted do vote in favor. In any moment. That agreement seems a way to grab a few M$ more from the compagny in fees fairly easily.