BMNM » Topics » Votes Required for Approval

This excerpt taken from the BMNM DEF 14A filed Mar 15, 2006.

Votes Required for Approval

        With respect to the Election Proposal, pursuant to the Company's Amended and Restated Bylaw (the "Bylaws") a plurality of all the votes cast at the Meeting at which a quorum is present is required for approval. With respect to the ratification of Ernst & Young LLP as the Company's independent public accountants for the fiscal year ended December 31, 2006, and any other matters which properly come before the Meeting or any adjournment or postponement thereof, pursuant to the Company's Bylaws, the affirmative vote of the holders of record of a majority of the votes cast at the Meeting at which a quorum is present is required for approval. With respect to the Conversion Proposals, pursuant to the Company's articles supplementary creating the Class A Preferred, a majority of the votes cast at the Meeting is required for approval, so long as the total votes cast represent more than 50% of the outstanding shares of Voting Stock entitled to vote at the Meeting. Cumulative voting is not permitted.

This excerpt taken from the BMNM DEF 14A filed Feb 11, 2005.

Votes Required for Approval

        With respect to the Election Proposal, the ratification of Ernst & Young LLP as the Company's independent public accountants for the fiscal year ended December 31, 2005 and any other matters which properly come before the Meeting, pursuant to the Company's Articles of Amendment and Restatement (the "Charter"), the affirmative vote of a majority of the votes cast at the Meeting, assuming that the votes cast at the Meeting represent at least a majority of all of the outstanding shares of Common Stock entitled to vote at the Meeting, is required for approval. Cumulative voting is not permitted.

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