They need 51% of the votes to get a board seat. Th
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Posted On: 06/08/2021 5:54:48 PM
Re: Riztheinvestor #93151
They need 51% of the votes to get a board seat. The 5%ers could have just got the proxy votes at the appropriate time from the 2 new people added to the 13d. Why they would add them is to try to show they got the power. At 7.7% they most certainly don't.
In the last annual shareholders meeting on the vote with the smallest spread to retain Nader on the board it was 81.8% retain and 18.1% fire. Even if you subtracted 7.7% from the retain vote and added it to fire vote it would be 74.1% retain and 25.8 % fire.
But I'm sure a very large number of the 7.7% had voted last year against Nader and are already included in that 18.1%.To be generous let's say 2% of the shares on the 13D didn't vote against Nader which puts it at 79.8% retain and 20.1% to fire.
In the last annual shareholders meeting on the vote with the smallest spread to retain Nader on the board it was 81.8% retain and 18.1% fire. Even if you subtracted 7.7% from the retain vote and added it to fire vote it would be 74.1% retain and 25.8 % fire.
But I'm sure a very large number of the 7.7% had voted last year against Nader and are already included in that 18.1%.To be generous let's say 2% of the shares on the 13D didn't vote against Nader which puts it at 79.8% retain and 20.1% to fire.
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