You are wrong here Joe. I have seen this happen many times. Management has their reasons for wanting a rev split. That does not necessarily translate into it being the best option, nor does it mean they have a majority guaranteed. Snug is proposing that everyone vote against it,or better yet, give him your proxy so that he can vote on your behalf at the meeting.

I have seen this work in the past. I was deeply invested in an exploration company a few years ago, and they proposed the same thing. I managed to solicit a bunch of proxies from people I knew were also involved . Management assumed there would be enough proxies given to them to carry the vote, but the response was very minimal. I actually walked in to the meeting with enough proxies to carry the day and the split was overruled. I certainly think it is worth the effort.

Consider that they will probably have news about that time and if the r/s is cancelled the SP should quickly recover.

Regards

K