OTCPK:NNDIF - Post by User
Comment by
schocoron Feb 14, 2023 1:18pm
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Post# 35285600
RE:RE:RE:RE:RE:I am Guessing Higher Offer - Any Guess as to New Bid
RE:RE:RE:RE:RE:I am Guessing Higher Offer - Any Guess as to New BidThere is a clause in the founding agreement though; paraphrasing from memory:
If Glencore owns more than 10% of the priority units, they get to ELECT the 4 director
If Glencore owns less than 10% of the outstanding units (currenyly believed to be the case), they get to NOMINATE the 4 independant directors
There are about 50M priority units. So it Glencore has been able to buy 10%, then they get to ELECT the directors; meaning that the vote for new directors on March 28th would be moot.
I think Glencore woudl haev to early warn as soon as they hit 10% , hwich makes me think they have not yet reached that level.
I saw - Vote for new directors. VOte for any ammendments they want to make at the AGM.