With Red Oak holding 30% of the OS, it would take CCEL and a good number of larger shareholders to turn the votes against Red Oak imo.
If that would " benefit " current shareholders, that's a million dollar question. Most just want to get this over with imo, whether they like what Red Oak and the BOD has done or not.
If they don't, all they need to do is vote N0
Proposal 1: To approve the election of David Sandberg, Adrian Pertierra, Timothy McGrath and Anthony Snow as directors of the Company (the “Director Election Proposal”).
Proposal 2: To consider and vote upon a proposal to approve the voluntary dissolution and liquidation of the Company (the “Dissolution”) pursuant to a Plan of Dissolution in substantially the form attached to the accompanying proxy statement as Appendix A (such plan, the “Plan of Dissolution”, and such proposal, the “Dissolution Proposal”).
Proposal 3: To ratify the appointment of RBSM LLP as the Company’s independent registered certified public accounting firm for the fiscal year ending December 31, 2020 (the “Ratification Proposal”).
Proposal 4: To approve (on an advisory basis) the Company’s executive compensation (the “Say-on-Pay Proposal”).
Proposal 5: To grant discretionary authority to the Board to adjourn the Annual Meeting, even if a quorum is present, to solicit additional proxies in the event that there are insufficient shares present in person or by proxy voting in favor of the Dissolution pursuant to the Plan of Dissolution (such proposal, the “Adjournment Proposal”).
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