I don't know what the requirements are and I don't know what the institutional shareholders were at the time of eligibility to vote for the proxy. I'm thinking at least 42%. The problem is there may be a minimum amount of people required to vote in order to approve something. Like a quorum. If there's not enough votes regardless of how many volt 4 or against it may not be able to be approved if 40% vote and they all vote for approval. I'm sure some people are just abstaining or not voting thinking their vote doesn't make a difference.
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