Looking for a recommendation on a ST site?
You are a braver person than I ever will be!
Meanwhile, interesting action on the shares again - someone paying up to get stock again this morning. Do they know something?
https://www.nzherald.co.nz/business/...AILFOQPJELD4E/
paywalled
Adams is encouraging all shareholders to vote. Even if a2 votes against the proposal, other minority shareholders could see it through. A2 Milk, and the balance of minority shareholders, represent 61% of the shares that can be voted at the meeting.
“They [a2 Milk] are under no obligation to tell us what they are going to do,” Adams told the Herald.
“It would be great to know, but ultimately they are not obliged to owe us a duty that says: you must tell the company which way you are going to vote.”
“It means that if a2 Milk did vote against it, you would need 60% of the balance of shareholders to turn up and vote,” Adams said.
“What I have been saying to our other shareholders is that ultimately, you don’t want to die wondering on this one,” he said.
Adams said a failed vote would put directors in a difficult position.
“We know that we have a loan falling due on July 15 which we would be unable to pay, and that pushes you into effectively having to decide with the banks whether or not they are willing to give you any relief from that repayment, which is not beyond the realms of possibility, all the way to voluntary administration.
“But if you are trying to get money into the business and the shareholders say no, then that pretty much is your answer.”
Adams said the proxies that have come through so far were “overwhelmingly in favour” of the deal.