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Point 1: Midland Petroleum is holding a stockholders' meeting next month. Ms. Ramsey is the president of the company and has the support of the existing board of directors. All 11 members of the board are up for reelection. Mr. Tbone P is a dissident stockholder. He controls proxies for 40001 shares. Ms. Ramsey and her friends on the board control 60001 shares. Other stockholders, whose loyalties are unknown, will be voting the remaining 19998 shares. The company uses cumulative voting.
Question a) If 9 directors were to be elected and Ms. Ramsay and her friends had 60001 shares and Mr. Tbone P has 40001 shares plus half the uncommitted votes, how many directors could Mr. Tbone elect?
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