Ahh got it.. now I see what you mean. Everyone gets a vote. On the bright side, there are 3 tests? One just minority shareholders, one for all shareholders, and one for all security holders (including options) and it has to pass the latter two at 66.66%?
(ii) that all Affected Securityholders as at the record date established for theMeeting shall be entitled to vote on the Arrangement Resolution as follows:
(A) each Shareholder being entitled to one vote for each Common Share held by such Shareholder on the Arrangement Resolution; and
(B) each Optionholder being entitled to one vote for each Common Share issuable upon the exercise of such Optionholder’s Options on the
and from the updated document:
As the transaction will constitute a
“business combination” for the purposes of MI 61-101, the implementation of the
Plan of Arrangement will be subject to approval by a majority of the votes cast by
shareholders other than ARMZ and its affiliates, in addition to approval by 66?% of
the votes cast by holders of Common Shares and approval by 66?% of the votes
cast by holders of Common Shares and options to acquire Common Shares voting
together as a class.