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Friday, November 10, 2023 8:01:21 PM
Here is how votes got polled ---
Option 1 --> 2,867,867
Option 2 --> 7,141,717
Option 2 polled 2.5 times more votes than option 1.
However, considering some real-time necessities that forced a few holders to choose option 1 and the vision that option 2 holders are continuing to see in us, we have decided to formulate a mix that to our opinion will keep everyone in the best moods over the decisions that company will adopt.
Option 1 was limiting grant of shares through Cow for 1 SPAC endorsement, though equity offer on such 1 SPAC endorsement was 1:1.
Option 2 was granting shares through Cow for all of the 5 SPAC endorsements that cow would make but because of such a wide offer, we were limiting overall shares to all the stakeholders in 5:2 Ratio.
We are now coming up with a mid-way solution that will oversee the needs of Option 1 investors and also accommodate option 2 choicers on most of the spac endorsements.
This means, the Company will be issuing 2 shares in each of the verticals for every 3 shares of COW from and upto 3 SPAC endorsements. This means for the first spac, Cow Shareholders (that includes ITUP Shareholders as well) will have 2 Shares for 3 shares of COW towards the first spac and this will mean 4 for 3 shares at the end of second SPAC endorsement and 6 : 3 (2:1) after 3rd SPAC endorsement. The last 2 spac related shares will be shared by ONE Key Strategic Investor, LP, Mahesh and Dr Palmer Family vs 4 SpACs endorsements they would have gained if option 1 was confirmed and none if Option 2 was confirmed other than through their current holding.
We felt, This mix and match will be a win-win situation for everyone because we are confident of completing 3 SPAC endorsements within 1 year and this will address the short term needs of all. The holding pattern of how it gets revised for each vertical will be circulated shortly in a week's time and this will be ready for dividend distribution on the 22nd of December 2023. We plan distributing $0.15 cents over dividends through Vertical 1 & 2.
From March Calendar we will have all the current verticals (Gold, Rice, Whiskey and fractional plane seats) turn live for dividend circulation.
My Dhan (www.MyDhan.io) wishes you all a very happy Diwali,
(Laxmi Prasad)
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