The GRC Support Agreements
Each member of the Executive Committee entered into shareholder support agreements, with Premier and pledged their support to the Arrangement.
The “Arrangement” is subject to among other things, the favourable vote of 66-2/3rds % of the votes cast by Goldstone shareholders.
On June 20, 2011 Supporting Shareholders collectively, beneficially owned, directly or indirectly, or exercised control over, 14,093,508 Goldstone Shares, representing approximately 13.5% of the issued and outstanding Goldstone Shares.
For openers:
7,046,755 GRC no votes are required to offset the 14,093,508 shares held by insider supporting shareholders.
14,093,508(2/3rd) + 7,046,755 (1/3rd) + 1share = 21,140,263 shares and that’s the start.