Pilbara Conglomerate Gold, page-510

heres a suggestion, as the ownership by stealth is an issue, change the vendor shares issued to related parties to a different class of shares, with no voting rights. And escrow them. So that only after the escrow, can they be converted to a voting share, and sold on market. Until then, they can not affect the voting power held by the original HDY holders.

Or is there already a voting restriction on escrows? i dont know.

is that possible?

But yes, so much hidden dealing within this mess.

Were they trying to steal HDY ownership ?

Perhaps management should have looked at who would own the majority before they approved of the deal.
While they can say, yes it is the same consideration, the issue is the control of the company shifts.

perhaps Better to have conducted a large 1-1 rights issue, etc, so that shareholders could have maintained ownership. So that there was simply a cash payment for the assets.