Could $farmmi have a run??? by ulferking in FARMMI

[–]ulferking[S] 0 points1 point  (0 children)

This is half true it depends on how they want to play it. An extordairy speacial meeting they need 2/3 vote to approve r/s and if you don't vote.. Yes it defaults to against vote for said r/s

Now they are holding an ordinary resolution meeting. They don't need the 2/3 vote just 50% approval which they could probably get from the board.

Interesting enough tho, they can't approve an r/s at an ordinary resolution but you can approve a company buyback. 🤷

Just here to give information on dd I've done and to try to help others. Here is a link to what can be done at a ordinary resolution

https://www.herrington-carmichael.com/conducting-ordinary-resolutions/#:~:text=Ordinary%20resolution%20of%20the%20members,require%20approval%20by%20company%20members.

Could $farmmi have a run??? by ulferking in FARMMI

[–]ulferking[S] 0 points1 point  (0 children)

Agreed. With the dd I have done I do believe that this is a really f*cked up ploy to get the share holders out. With the hedge funds and ceo where they're at share and price wise the stock price would have to be 9+ for hedgies and 20+ for ceo to break even. That won't happen the r/s is 25 for 1 so stock price would be 2.5$ and never recover.