shimself
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Post by shimself on Jun 6, 2019 16:38:39 GMT
What we are told is that if they don't get 75% of lenders (debenture holders) to agree then it'll probably go bust. 75% by amount lent that is. As of today June 6 they are at 51%, the vote closes on June 12.
I can't say I like this, but I can't see we have an alternative, so if you are in GD** and haven't voted then take a look for the email and get voting.
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mrk
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Post by mrk on Jun 6, 2019 19:04:05 GMT
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Post by GentlemansFamilyFinances on Jun 7, 2019 11:08:58 GMT
I think that many people didn't bother signing it yet.
50% of people are in favour by value and less than 1% against.
I have some in this one (but nowhere near even 0.01%) and signed up to agree.
We'll see how things progress with this - it looks a bit troubled but at least now a plan is in place
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pom
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Post by pom on Jun 7, 2019 13:18:46 GMT
If people want to vote against it then fair enough (tho I think they're mad given that's pretty much guaranteed to cause huge losses) but if it fails to be passed because people can't be bothered to vote...well that'll be irritating to say the least
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mrk
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Post by mrk on Jun 7, 2019 15:09:09 GMT
If people want to vote against it then fair enough (tho I think they're mad given that's pretty much guaranteed to cause huge losses) but if it fails to be passed because people can't be bothered to vote...well that'll be irritating to say the least I for one am unconvinced by the proposal and therefore have deliberately not voted, because that's the most logical thing to do if you're against it.
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pom
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Post by pom on Jun 7, 2019 15:22:27 GMT
If people want to vote against it then fair enough (tho I think they're mad given that's pretty much guaranteed to cause huge losses) but if it fails to be passed because people can't be bothered to vote...well that'll be irritating to say the least I for one am unconvinced by the proposal and therefore have deliberately not voted, because that's the most logical thing to do if you're against it. I don't follow your logic sorry. If you're against it why not say so (by voting against), otherwise they'll likely assume your unsure. Surely it's better to give Abundance more definite feedback
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mrk
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Post by mrk on Jun 7, 2019 15:35:47 GMT
I for one am unconvinced by the proposal and therefore have deliberately not voted, because that's the most logical thing to do if you're against it. I don't follow your logic sorry. If you're against it why not say so (by voting against), otherwise they'll likely assume your unsure. Surely it's better to give Abundance more definite feedback It's not really about giving Abundance "feedback". It's not an "advisory" vote as far as I understand. Either the proposal gets 75% approval, or it doesn't and therefore is rejected. They even say in their email: "You can vote for or against the proposal. If you do not place a vote it is in effect a vote against".
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sl75
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Post by sl75 on Jun 12, 2019 15:29:06 GMT
... if it fails to be passed because people can't be bothered to vote...well that'll be irritating to say the least This seems to me a fatal flaw in the voting strategy - if at least 25% of investors are "passive", and don't actively engage in any vote, then pretty much by definition no special resolution can ever pass...
I would hope that steps are being taken to actively contact those investors who haven't voted (at least those with larger investments who have the biggest effect on the outcome) and establish their reasons (if any) for not having done so, encouraging them to actively express an opinion; as you say, if it's merely lethargy that causes the resolution to fail, that would be a great shame!
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shimself
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Post by shimself on Jun 12, 2019 15:45:21 GMT
... if it fails to be passed because people can't be bothered to vote...well that'll be irritating to say the least This seems to me a fatal flaw in the voting strategy - if at least 25% of investors are "passive", and don't actively engage in any vote, then pretty much by definition no special resolution can ever pass...
I would hope that steps are being taken to actively contact those investors who haven't voted (at least those with larger investments who have the biggest effect on the outcome) and establish their reasons (if any) for not having done so, encouraging them to actively express an opinion; as you say, if it's merely lethargy that causes the resolution to fail, that would be a great shame!
It's 25% of the money, so pareto says that only 18% of investors (ish) are needed
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