ablender
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Post by ablender on Mar 15, 2016 15:43:25 GMT
I have just read the email from ReBS AC saying that the "the clear majority have voted in favour of accepting the borrower's proposal".
The results of the vote are as follows:
Vote Percentage
A 49.4774%
B 0.7306%
No Vote 49.7920%
Total 100.0000%
Please note the accuracy, up to 4 decimal places.
What I see is that the largest majority chose not to vote - perhaps no option was good for them to choose. The amount of people not voting is larger than the people selecting option A.
How does this make option A a "clear majority"?
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SteveT
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Post by SteveT on Mar 15, 2016 16:03:57 GMT
A received more than 98% of all votes cast. Is that not a clear majority?!
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baldpate
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Post by baldpate on Mar 15, 2016 16:14:50 GMT
I have just read the email from ReBS saying that the "the clear majority have voted in favour of accepting the borrower's proposal". That's interesting - have ReBS taken over the Assetz Capital operation now?
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ablender
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Post by ablender on Mar 15, 2016 16:16:41 GMT
A received more than 98% of all votes cast. Is that not a clear majority?! I do not know. I do value the votes which are protesting against the only offered options (talking in general).
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SteveT
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Post by SteveT on Mar 15, 2016 16:25:30 GMT
A received more than 98% of all votes cast. Is that not a clear majority?! I do not know. I do value the votes which are protesting against the only offered options (talking in general). Why do you regard a non-vote as protesting? Most likely relate to people holding the loan via the GBBA, or who didn't get / see / read the email, or couldn't be bothered to vote, or ....
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Post by pepperpot on Mar 15, 2016 16:26:49 GMT
I have just read the email from ReBS saying that the "the clear majority have voted in favour of accepting the borrower's proposal". That's interesting - have ReBS taken over the Assetz Capital operation now? Scratching my head over that one too.  ablender, If the Tories get 35% of the votes, Labour 5% and others 5% (45% turnout and 55% not voted) what's the result? No government?
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oldgrumpy
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Post by oldgrumpy on Mar 15, 2016 18:01:18 GMT
blender
I have just read the email from ReBS ...
No you haven't!
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Post by elljay on Mar 15, 2016 19:05:29 GMT
<teleport>
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Post by mrclondon on Mar 15, 2016 19:10:32 GMT
ablender , the thread has been moved to the AC board where it belongs.
To answer your question the AC T&C's state (para 13.4)
"In relation to a proposed course of action, each relevant Lending Syndicate Member shall be deemed to have given its consent to such proposal if the Assetz Agent shall have arranged a poll of the relevant Lending Syndicate Members on the proposal and it shall have been approved by the majority who vote in that poll."
my emphasis
And as someone has already pointed out, the loan units attributable to QAA and most GBBA holders will not take part in the votes (but AC believe that legally GBBA holders have to be invited to participate in votes )
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Post by chris on Mar 15, 2016 22:16:49 GMT
(but AC believe that legally GBBA holders have to be invited to participate in votes )
That's actually changing now that HMRC have specifically ruled Article 36H loans out from being a collective investment scheme, so we don't need to tiptoe around those regulations anywhere near as much. That doesn't completely absolve us from having to hold votes, and in some ways makes it more complicated as there's no definitive reason why we need to just a whole load of pros and cons. So no changes yet but there are likely to be some in the coming weeks as we work through the options.
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ablender
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Post by ablender on Mar 16, 2016 6:51:30 GMT
Re move of thread.
Sorry. was looking at a few different loans and mixed up platforms. Edited OP.
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Post by andrewholgate on Mar 16, 2016 9:31:44 GMT
I have just read the email from ReBS saying that the "the clear majority have voted in favour of accepting the borrower's proposal". That's interesting - have ReBS taken over the Assetz Capital operation now? NO!
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Post by andrewholgate on Mar 16, 2016 9:34:26 GMT
A received more than 98% of all votes cast. Is that not a clear majority?! I do not know. I do value the votes which are protesting against the only offered options (talking in general). As has been pointed out, not voting is disregarded in the calculation. You may see not voting as a protest but it just means your opinion isn't heard.
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investibod
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Post by investibod on Mar 16, 2016 9:39:51 GMT
For me, the not voting was because I forgot.
One issue I have with the Survey Monkey type of voting is that you only get one attempt. On a previous occasion, I tried to vote while on a doggy 3G connection. It timed out while I was on the survey page and when I tried again it told me that I had already completed the survey.
So this time, I decided to wait until I was on a more reliable connection, then I completely forgot. Definitely not a protest from me.
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blender
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Post by blender on Mar 16, 2016 12:29:55 GMT
blender
I have just read the email from ReBS ...
No you haven't!
You are quite correct, Grumps. I've read nothing from ReBS. You've tagged me instead of ablender (a completely different animal).
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