Noranda Income Fund Unit NNDIF

NIF shareholding’s

[Bwrbhk]

We now have two funds holding a total of 19% of the outstanding shares.  Could be interesting if a bid is made by GC.

[Eric1212]

Both are wellcoming when i'm approching them. Expect somehow 23-24 % as potential block against GlenCore.

[Scotch12]

My understanding is you need 66.67 percent of the shareholder vote for a takeover.  There are 37.5 million shares outstanding not held by Glencore.  Therefore votes representing 12.5 million shares could effectively block any takeover of NIF even if the "independent" board supported one.  This would prevent a low-ball bid.  I stand to be corrected but that is my

[Eric1212]

According to the trust Indenture, it's need 90 % at least post-transaction for a take-over but it's not question of take-over here.   It's question of making changes to the trust Indenture. It's need 66.67 % of casted votes.   Unfortually, there is an unknown quantity of casted votes. But theorically, if glencore vote no and everyone else yes, it's need 25 000