Post by
74volfram on Aug 19, 2015 3:06pm
about proxy vote
Absence of proxy instructions (non-vote):
From a read of the circular on proxy vote (page 6 of the voting circular):
"It is the intention of the persons named in the enclosed proxy, in the absence of instructions to the contrary, to vote the proxy FOR the Arrangement Resolution. If a Shareholder does not specify how their Woulfe Shares are to be voted, the persons named as proxyholders will cast the votes represented by their proxy at the Meeting FOR the Arrangement Resolution."
This is actually a NYSE legal opinion that assumes shareholders by default will support management (the resoning being that if they did not, they would have sold their shares).
The proxyholder is the broker that holds the shares for the individual shareholder.
My read is that unless the shareholder specifically instructs the proxyholder to vote differently (by voting the proxy on line or by phone), the proxyholder (broker) will vote with the management. It is standard operating procedure in corporate voting.
Comment by
chrisp6712 on Aug 19, 2015 6:29pm
I don't see the intrigue. Votes had to be in Vancouver by 10:00 AM today. That means they were probably put in the mail 2 or 3 days ago. at the latest. The agreement will pass. Maybe a few million shares if any may be voted at the meeting but the meeting will be a non-event as far as the agreement vote goes. Once the agreement passes, real progress can be made.