AGM, page-5

Given it needed more than 75% support to be adopted, Tremont's holding gave them effective control of the vote -which they used to defeat the resolution.

As to whether that is good or bad depends on what you are looking for with your own holding.

If the resolution had been successful, and they subsequently made another share placement, that would have diluted your holding - especially as they don't normally include existing retail holders. Obviously Tremont didn't want their holding diluted either. Why? IMVHO, I think they may be sharpening their pencils....if you get my drift.

I have always been in for the long term...so that would be disappointing for me. If the big holders are happy to let their holding go earlier then I would prefer they sell - rather then a t/o.

I could be wrong!