Setting a non-circular amount of interest on the investor's share?

Question

Startups

Let's say my investor is asking for a 40% stake in a startup. What objective arguments can I make to convince him to set his stake at 39%?
The idea is not to squeeze out 1%, but to prevent his share from reaching a certain “milestone”. For example, Mail.ru Group owns a 39.99% stake in Vkontakte. Surely there is a strategy behind this?

Answer 1

It is better to dilute the shares so that the founders have 2/3%% of the shares, and the rest of the investors. This gives you the right to vote.
But here everything depends on the Charter… anything can be written there. IMHO.

Answer 2

Any argument. In general, how significant these 40% are is prescribed in the charter and contract. You can, for example, prohibit selling these 40% or selling more expensive (cheaper) than ... So you need to look not at %% shares, but at what can really be done with these percentages and what, besides money, you can get for the transferred share.

Answer 3

Some garbage you said, read the laws on the charters of companies, LLC and OAO.
Well, with the presence of the Internet, asking such questions is simply not correct.