OK but u voted yourself? isn't that cheating
are you acting in the best niterests of yoru shareholders?
He waited until the majority of other shareholders had voted yes before casting his votes
The issue he is raising is quorum. He's attacking me because of the small number of shares which voted (and I did not vote with any shares under my control) while using as evidence a vote he took where he voted using his own shares.
The issue I'm raising is that you claim to have the support of shareholders when you only actually have the support of 11% of shareholders excluding yourself.
In the vote of mine I quoted I had the support of all but 1 shareholder (who held a single share and wasn't around in the 2 days the vote ran for). Whenever I run votes I only vote late with my own shares - and will vote NO if there's any significant votes against. I also then offer to buy back any shares anyone wants to sell at over NAV/U for a week or two.
My point wasn't that you couldn't pass the motion - you could, by allocating your own shares and voting (and with no NO votes that would certainly be legitimate). My point WAS that it was typical deception by you claiming shareholder support when you only had support from a small minority of shareholders. 11% voted yes, the other 89% couldn't be bothered to even vote at all - THAT's how keen and eager their support is.
Shareholders is not the same thing as shares.
If one person holds 90% of shares and 10 others hold 1% each and then in a vote the 90% votes yes and the other 10 all vote no :
It's TRUE to say a majority of shares voted yes.
It's true to say the motion was passed by 90% to 10%.
It's a LIE to say a majority of shareholders voted yes - under 10% did.
And if you were the 90% it would be a LIE to say you had the support of shareholders - truth would be you bludgeoned the motion through whilst opposed by ALL other shareholders with zero support other than yourself.
The above example is slightly worse than the BMF situation - just trying to illustrate the point.
You tried claiming your investors supported you, but the truth is the only way you can pass a vote is with your own majority of shares which almost certainly means only a minority of shareholders supported it (unless all the shares that didn't vote are held by a few people - which seems unlikely).