Pacific Shipping Trust (PST)

[cif5000]

Just curious if PIL wants to get PST delisted , they must obtain 90% voting right, so why is there a need to obtain 75% to ensure the passing ofthe special resolution after delisting ?

They need 75% for and less than 10% against to carry out the delisting.

They need 75% for the winding up.

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The Delisting and the Exit Offer will be conditional on, inter alia:
(a) the resolution to approve the Delisting (the "Delisting Resolution")
(i) being approved by a majority of at least 75% of the total number of issued
Units held by the Unitholders present and voting, on a poll, either in person or
by proxy at the EGM to be convened for the Unitholders to vote on the
Delisting Resolution (the directors of the Trustee-Manager (the "Directors")
and controlling Unitholders need not abstain from voting on the Delisting
Resolution), and
(ii) not being voted against by 10% or more of the total number of issued Units
held by the Unitholders present and voting, on a poll, either in person or by
proxy at the EGM

Why someone bothered to buy 220,000 shares at 0.435 today ? Expect offered price to go up ?

1. He expects the liquidation value to be greater than $0.435.
2. He expects to receive a distribution greater than $0.005 before the offer closes.