"So when SRSR sent out proxy for the shareholder vote they know how many we're sent out."
No. They didn't. They would know exactly how many they sent out themselves directly... by mail... to shareholders of record. And, they'll know what the % participation was among shareholders of record... and what the % participation was among holders in street name. Some statistical analysis is doable based on "norms" with that data... but, nothing definitive. SRSR already knew what numbers the shareholders of record represented. The company still will have no way of knowing how many proxies were possibly "re-hypothecated" as the brokers forwarded the forms as electronic documents to the holders in street name.
The brokers should each know how many "votable" shares were represented in their street name holdings... but, they'd have little incentive to be honest in reporting ?
"They know if they had 1.5 billion votes?"
They do know what the result of the vote count was... and, that's the ONLY thing they know as a proven fact... based on the effort that was made.
The vote totals tells you only how many votes were cast and returned to be counted (again, with some issues with the "trust factor" required in the industry's accounting and in the methods used in managing the votes, etc.) The votes returned still don't tell you how many ballots were mailed out... ???
However, the 70%+ participation reported... "suggests" either that SRSR is an remarkably extreme outlier in terms of shareholder participation... or that SRSR is a fairly typical small market stock in having a significant short holding.
It might have been a bit more obvious if there'd been 100% or 110% participation in the vote ? But, 70% is still pretty high.
I find it interesting that someone here noted, today, that they did get proxies from Ameritrade... and didn't from UBS ?
.JPG)
.JPG)
