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Technology Stocks : Blank Check IPOs (SPACS) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (2197)	11/22/2009 6:49:13 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 3862

-- It will take NO votes from 81% of the non-insider shares to kill a proposed transaction. This begs one question: is shareholder approval of any proposal required (like, a simple majority of all voting shares) aside from the above rule? In this case it would mean that if just 38% of the share capital is present in a meeting and 50.01% ( 19.01% of all outstanding shares) vote yes the transaction is approved. If no 50% shareholder approval is required this indeed would mean a minority of 19.01% outside votes are enough to approve (i.e. not block) a transaction. This is interesting.