As government insiders continue to run the company, institutional
shareholders are likely to keep close tabs on their votes to ensure that they
support independent,
external candidates — something that can be difficult to manage with Brazil's complex proxy voting rules and last - minute nominations.
Noting the breadth of
shareholder support I have received to date, I believe this perspective is shared by a substantial majority of Argo's
external shareholder base, and I expect this letter will attract new
support.