ARA Asset Management

[Boon]

http://ara.listedcompany.com/newsroom/20...VTB7.2.pdf
 
This is interesting....................

On page 19:
 
Under the Bermuda Companies Act, those persons who agree to become members of a Bermuda company and whose names are entered on the register of members of such a company are considered members of the company, with rights to attend and vote at general meetings of the company. Depositors holding Shares through CDP are not recognised as Members in respect of the number of Shares credited to their respective Securities Accounts and generally do not have a right under the Bermuda Companies Act to attend and vote at general meetings of the Company. To enable Depositors to attend and vote at the Scheme Meeting as Scheme Shareholders, the Company intends to seek, at the first hearing in the Court for directions to convene the Scheme Meeting, an order of the Court pursuant to which:
 
1.  (i)  each Member who holds Scheme Shares in its own name in the Register of Members will have one vote and the value to be attributed to such person’s vote at the Scheme Meeting will be the number of Scheme Shares held in the name of that person; and
2.  (ii)  in respect of Scheme Shares held by CDP as Member, each Depositor who has Scheme Shares entered against its name in the Depository Register who votes as CDP’s proxy (or nominates any person to vote as CDP’s proxy) at the Scheme Meeting will be counted and its vote taken into account in determining if a majority in number representing three-fourths in value have voted to approve the Scheme at the Scheme Meeting.
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