Ann: Small Shareholding Sale Completed, page-28

In some situations a decisions by the BoD require not only certain percentage of votes (shares) but also certain percentage of shareholders as persons or entities. In those cases minor/retail shareholders with small aggregate number of share can then potentially block decisions which may favor large holders. As a sidenote, Gerald King is the larges holder in GPP. A recent example of how this situation could have been the case unfolded through the T/O bid for AGO and related matters e.g., intention to desist by the bidder. In short, small holders are a pain for BoD, so when SP is low, it is an opportune time to buy them out ... using the company cash reserve!!!!