So you agree... Mike controls more than 50% of RFMK and is the majority shareholder...
...and yet Kenco... you do not understand what are the implications of being a majority shareholder. You don't see the big picture.
Let me break it down for you. Mike is the controlling party of RFMK ...because of his majority voting block of shares, he has the ability to out vote all of us at BoD meetings. In the event of a buyout offer, Mike will decide whether to accept the offer or not. Your vote, my vote will not matter. Do you get it now? i doubt it.
Being the majority shareholder of RFMK, makes Mike in effect the "substantive" owner of RFMK.