Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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There's no reason to estimate 38%, it could be anything, but the RNS said 23.8%, they are the only confirmed votes in favour.
You are back to your old tricks, presenting plausible information that strikes a chord but has no basis in fact - you appear to have subtly changed your stance as regards a fight, don't start being defeatist.
It may well be that the shares sold thus far have gone to Geo but equally they could have gone to opportunist investors who will bide their time and make a decision as event unfold. IMO, Geo are likely to approach shareholders direct and buy large blocks (they then have to honour the finally offer price even if they increase it) or obtain commitments from large holders rather than buy in open market. It makes sense for large shareholders to wait and not give irrevocable commitments that prejudice the value of their investment and bear in mind Geo will have to announce any new commitments
The commitment of support from existing shareholders and the BoD are apparently irrevocable except under unlikely circumstances, however if someone or group gets a blocking interest of 25% + they cannot progress and eventually if someone does not present an acceptable offer the takeover panel will instruct them to back off, they are not allowed to stalk a company if rejected. According to Moneylender there are already around 60m shares indicated to vote against, that's in one day and is enough to cancel out almost 2/3 of the committed votes IMO if PI's hold firm there is a good chance of a better outcome.
The RNS said:
"Therefore, as at the date of this announcement, GeoPark and GeoPark Colombia have received irrevocable undertakings to vote, or procure the voting, to approve the Scheme at the Amerisur Court Meeting and vote, or procure the voting, in favour of the Special Resolution at the Amerisur General Meeting with respect to a total of 289,023,696 Amerisur Shares, representing approximately 23.8 per cent. of the existing issued ordinary share capital of Amerisur."
Never understood the voting system. Cannot see how it is practical to count all votes accurately and who does it ..... can you trust them? Then you get the show of hands at agm’s. None of it makes much sense to me. I am going to look at this scheme of arrangement just to establish whether my vote is based on number of shares. The non disclosure of the votes % at the last agm was an absolute disgrace.