Investors at the AGM of Hong Kong and China Gas have voted by about 11 to 9 against the issue mandate - another bite for Project Vampire.
Vampire bites Towngas
8 May 2004
Investors made their views clear at the AGM of The Hong Kong and China Gas Co Ltd (HKCG, 0003) on Wednesday 5-May-04. The controlling shareholders and directors together own 2,174,121,870 shares (38.52%). We'll assume they voted in favour of giving themselves a mandate to issue new shares.
Deducting the insiders from the official poll results, the investing public voted as follows:
| Votes | Share | |
|---|---|---|
| In favour | 474,308,996 | 45.04% |
| Against | 578,694,127 | 54.96% |
| Total | 1,053,003,123 | 100.00% |
Voting turnout was 30.35% of the publicly held shares. This win for Project Vampire follows April's win at the CLP meeting.
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