Spoke to MOL briefly, does not look good. All I can say is Hanlong most likely will have their way. Hanlong can potentially get $45m from cash pool $87m not sure what Hanlong wants to do.
I will vote against removal of directors, but probably won't do much.
Hanlong has 207m shares... 178m shares not own by Hanlong. If all 178m shares vote against removal of directors, still 29m shares short. If MOL can do share placement of 30m shares at 12c (discount to cash-backing), then we might have enough votes to block Hanlong.
30m share placement out of 385m shares = 8%, I don't think require share holder approval.
Just IMHO.
Ann: Notice of General Meeting/Proxy Form , page-3
-
- There are more pages in this discussion • 3 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
