One of
Magnet says 99.01 per cent of shareholder votes cast yesterday supported
Holders of multiple voting shares gave the deal 100 per cent approval, while those with subordinate voting shares were 68.17 per cent in favour.
When subordinate voting shareholders required under securities laws to be excluded from the count were omitted, the deal garnered 66.85 per cent support.
The takeover needed two-thirds of support from all investors and a majority of votes in favour from subordinate voting shareholders before it can seek approval from the
Nellore, which holds 11 per cent of Magnet's subordinate shares, has argued shares are worth more than the
This report by The Canadian Press was first published
Companies in this story: (TSX:MAGT)
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