on SEDAR explains what the vote is about. Seems the vote on the shareholders plan must pass before the vote on allowing HOC to increase their holdings to 35%.

Some notes:

All votes must carry only a majority.

It is made clear that the 19.9 % shares that HOC hold cannot be used in the vote for HOC to increase to 35%. This statement is not mentioned in the shareholders right plan (SRP) vote. So to vote no on the SRP, we are already down 20%, plus what directors hold (which is less than 10% each but are recommending a yes vote). To get a no vote is going to require a miracle on the SRP but the vote of no for HOC to 35% is certainly attainable.

I was declared that HOC was the only holding greater than 10% so the FNX shares now equal less than 10%.

The SRP could be adopted again, at any time, if an outside bid, other than HOC, was to come into play. Sounds like they have already lined HOC up for the takeover.

My vote is not going to count for much but I am going to vote no right across the board, including appointment of directors. We have to send a message regardless of the outcome.

v.