sydney 6th sept., page-36

Gday Giddy
I found this on google

Under the two-strikes rule, if 25?per cent of shareholders at a company’s annual general meeting vote against the company’s remuneration report the first time, directors are put on notice to review their remuneration policies. The second and final strike is delivered if at the following year’s AGM 25?per cent of shareholders again vote against the remuneration report. If at least 50?per cent of shareholders present at the meeting vote for a board spill, directors must face re-election within 90 days.

At the last AGM the remuneration report was passed with 98M votes for, and 78M votes against. So if I am interpreting this correctly the 1st strike was delivered at the last AGM, bcoz more than 25% of shareholders voted against the remuneration report at the last AGM?

After all the drilling disasters of the last 12 months it shouldnt be too hard to get another 25% against this years temuneration report. But getting 50% of shareholders present at the AGM to vote for a board spill may be a bit difficult ?

Perhaps this explains the shareholder meetings, but I dont think a few golden wonka tickets will prevent 25% of shareholders voting against the remuneration report at the next AGM.

GLTA vote NO and vote often !