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Thanks for correcting. It’s important that all shareholders actually vote...only takes a few minutes, so rather complain here they should vote them down!
" Also note SAHL only have 59% shareholding, the vote needs at least 75% for the delisting to occur. So SAHL cannot by itself vote for this. It’s interesting indeed.."
from the RNS :
under the Companies Act 2006, it is a requirement that the Share Reorganisation and amendment to the Current Articles required to reflect changes resulting from the Share Reorganisation must be approved by not less than 75 per cent. of votes cast by Shareholders at a general meeting.
so..it is NOT 75% of the shareholders ..it is 75% of the votes cast at the general meeting
just to be clear
Also note SAHL only have 59% shareholding, the vote needs at least 75% for the delisting to occur. So SAHL cannot by itself vote for this. It’s interesting indeed..
Can see your point, but Solenta have not put a condition as such be because they have only ‘indicated’ which means it’s not a certain condition. Also Sonenta are too involved with numerous contracts to risk these by pulling the funding.
Solenta Aviation Holdings Limited ("SAHL") has indicated to the Company that it will only continue to provide the Company with financial support on condition that the Company's listing on AIM is cancelled. Any such future financial support from SAHL is likely to take the form of either further additional secured convertible loans to the Company or a capital fundraise by the issue of new Ordinary Shares. Without this support, and the passing of the Resolutions to be proposed at the General Meeting in the form set out below in this announcement, the Board believes that it will be very difficult for the Company to continue trading into the foreseeable future as a going concern. In light of the above, the Directors believe that it is important for the Shareholders to pass the Resolutions.
You can't have the nominal value of the company less than the market cap value. All shares carry a nominal value, usually1p but can be less or more. Multiply the no of shares by the nominal value of each shares and you get the nominal value of the company-if this is less than its mcap the nominal share value has to be decreased. I think delisting is a cert now as Solenta are insisting on it before lending any more money.
Don’t understand why they doing subdivision of shares when they’re proposing delisting? Unless they’re thinking they’re is a good chance of delisting not happening?
People who need a certain amount of vote will be using ?
Nai/DYOR
i'm in... but i don't really know what i'm doing
Who’s buying...?
0.0425 ish to buy now. Doesn’t seem to be much stock about down here.
Why has there been no TR1’s last few weeks ? Volume has been massive !
Nai/DYOR
Buy price 0.4 or is it sell price?
Max buy is 2m or £800 worth. This is going to spike up again imho.
Nai/DYOR