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Kevin O Kane and Elodie are resigning, and ALL of the oter Directors are vup for re-election.
If none of them are elected, BHP and NCM could end up running the company by virtue of their right to appoint a Director, which one assumes would happen immediately after the AGM and BEFORE the Merger...
In other words the point of maximum risk...
Be warned...if tbe above scenario happens I would expect the share price to be in single figures by the end of December...
If you don't like certaon Directors, don't worry because when the takeover happens they will all be gone...
YOUR VOTE COUNTS!
Exactly…. Why would anyone invested here not vote in favour of their own investment??
Listen to DBW...he is one of the best informed, most reasonable ans sensible posters on here.
RK posted that he was voting against Twigger and Clare not long ago........
DBW, sadly one or two on here have already stated they'll be voting against some of the directors. It's pretty obvious they don't understand the situation. Hopefully they'll change their minds and issue new instructions to their proxies.
Red
Are they sticking to the U.K. governance and what bhp were calling for, for all directors to be up for election
And what’s the minimum 50% above of the votes to keep on the board
sjn, can you explain to us why you are voting in favour of the board being able to issue new shares, but against the people who have the interests of PIs at heart? You are opening the door for BHP and NCM to take control of the board and then dilute us all to oblivion. It makes absolutely no sense.
Thats true and I have, but its easier for people to vote for all of them in one go.
Yes finally they are putting all the Directors up for re-election.
All any Director needs is 50.0000001%
Nick Mather gort 55% but this was deemed by the then Board as a vote of no confidence.
So I think if they all got more than 50% they would all stay in post until the takeover battle is complete.
Thats a very good point SM. Well said.
Spot on Sharket
SM - he presumably thinks that BHP are going to assume control, pay everyone a fat premium and off we all sail into the sunset.
In reality that's not the case at all.
If any of the directors or Chairman loses re-election then you can expect a mammoth tussle as BHP then attempt to remove Caldwell and Vujcic from their positions. After all, their goal will be to remove the influence of Bob, Warren and Maxit. Their nominated director would then seek to bring other BHP allies onto the board, marginalise other major shareholders like Jiangxi and basically set us down a path of cheap equity dilution.
We'd see 5bn shares. 29% in the hands of BHP, and a share price of about 3-5p and only then will BHP chuck us a 30% premium, buying the remaining 3.5bn shares for about £250m.
Job done.
And for those who don't believe me (I know SM does), check my posts this time 2 years ago. It's good to see RK1 and others now waking up to the danger now it is staring us in the face.
As long as they receive a simple majority the board should ignore the Code and any protestations from BHP/NCM.
This goes against the grain for me, but these are different circumstances and we're facing an existential threat.
Surely the percentages are in our favour
bhp/ncm around 20 % Levels
what’s been stated that effects private investors is the same for all the institutions that have holdings no ? They are here to make money on their investment so voting with bhp to run share price to a oblivion doesn’t make sense
Many of the major mining funds are heavily invested in BHP as well. And to a much larger degree. You are assuming their preferred outcome for Solgold is the same as small or high conviction holders like ourselves or the Canadians.