Are they telling us that they got exactly what they needed to pass and no more. 66 2/3%? and 50% from the minority, us, of shareholders. Thats not overwhelmingly.
Also, I thought that brokerage house were to report on those who decided to retain.
- Shorecrest Group, in its capacity as proxy solicitation agent under the Arrangement, has advised that, based on information supplied by various brokers and market intermediaries as of the Interim Election Deadline, that additional Retention Elections for an additional 45,138,542 Common Shares are pending (collectively, the “Pending Retention Elections“), representing approximately 8.0% of the issued and outstanding Common Shares. Such Pending Retention Elections are expected to be submitted in bulk prior to the expiry of the Retention Election Deadline (as defined below).
Together, the Existing Retention Elections and Pending Retention Elections represent an aggregate of 48,469,203 Common Shares, representing approximately 8.6% of the issued and outstanding Common Shares as of the Interim Election Deadline
Are they saying this amount hasn't made an election and if they were to do so it would represent 8.6%? If so we've got a fight on our hands to keep some of this in Canada. Thoughts please.