Why not deal directly?, page-18

AFU- here's the rub. Yoda thinks a significant portion of the bloc of votes delivered by one broker TC . Clients of the broker plainly just follow the broker's recommendation. In part, these are old money, fully discretion portfolios. So, clients have no say unless alerted. Also, there are non - discretion portfolios, but these usually follow broker recommendation as the true owner does not give a rats axxxx as CTN just a small portion of their portfolio.
At last EGM, 28% voted with current board, 20% against, and 52% did not vote.
If GW is against, its 28 vs 25. Unless he can muster the silent majority.
Not forgetting that shareholders disgusted by the last 9 months might have sold out or reduced? So, the 20 could be 15.
Bottom line, its an uphill battle. Shareholders who sit on the fence usually just follow board recommendations? Unless GW throws this weight. Or various thought provoking articles show up. Or proxy advisers get interested? Or the authorities get interested?
CTN is symptomatic of the nasty end of micro cap space they invest in. Shareholders last.