Your just re-stating the EXISTING statutes over and over. They cannot be modified until the following happens, subject to a vote on June 4th.:
ANNEX A
PROPOSED AMENDMENT
TO THE
Amended and restated MEMORANDUM AND ARTICLES OF ASSOCIATION
OF
ELECTRUM SPECIAL ACQUISITION CORPORATION
The Amended and Restated Memorandum and Articles of Association of Electrum Special Acquisition Corporation shall be amended by deleting Regulation 23.2 in its entirety and replacing it with the following:
“23.2 In the event that the Company fails to consummate a Business Combination by 5 October 2018 (such date being referred to as the Termination Date ), such failure shall trigger an automatic redemption of the Public Shares (an Automatic Redemption Event ) and the Directors of the Company shall take all such action necessary (i) as promptly as reasonably possible but no more than ten (10) Business Days thereafter to redeem the Public Shares (as defined below) or distribute the Trust Account to the holders of Public Shares, on a pro rata basis, in cash at a per-share amount equal to the applicable Per-Share Redemption Price; and (ii) as promptly as practicable, to cease all operations except for the purpose of making such distribution and any subsequent winding up of the Company’s affairs. In the event of an Automatic Redemption Event, only the holders of Public Shares shall be entitled to receive pro rata redeeming distributions from the Trust Account with respect to their Public Shares.”
AI
