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6,942 Posts.
746
07/10/11
09:15
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re: Ann: Becoming a substantial holder in BOW...
in a vote to approve a Scheme there are TWO tests:
1. at least 75% of shares voted must vote in favour of the Scheme,
AND
2. at least 50% of shareholders voting must vote in favour of the Scheme.
Both of these tests must be reached.
And - it is the shares/shareholders VOTING that are counted.
And thats important, because often only a small percentage of shareholders often bother to vote.
cheers