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Ann: Notice received under Section 249D of the Corporations Act, page-86

  1. 6,862 Posts.
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    @PinkBunnyRabbit If you care to actually read what I said, rather than what you think!

    I didn't state but rather I quoted another poster, which was his/her opinion, just like you had an opinion.
    Maybe it is as posted by @diggindiggler
    "Nuh, he was a majority holder and got on the board because of it, when the cobalt price started to tank he jumped ship because he wanted to sell out."
    Also, considering that @RDL hadn't posted prior to my post, then it is a bit obnoxious to suggest what I said as being false.

    Again, show me how you can construe this is the opposite and / or hypocritical.
    "Its ok to remove a board, but their must be some plan ?"
    It is quite obvious that I support shareholders exercising their rights as owners of the company, but again until the rest of the shareholders see a plan then it is status quo......

    @bratty As soon as the 249D was served, the mail out started. The company took two weeks to announce a meeting, for a further 6 weeks time.
    It was clear that the spill was being supported as the company, obviously getting the online vote numbers cancelled the meeting (on the day) and the board changes took place.

    Obviously, this is a different scenario because there was no AGM but rather an EGM solely for the purpose of the 249D.
    I am not sure why you think I am suggesting it is "in the final act though", all I was asking is what is the "proposed board" offering.

    CLA directors must call a meeting under the Corporations Act (249D) within 3 weeks of being served the notice and the meeting must be held no more than 2 months from the date of the notice.

    There is 4 weeks before the AGM, shareholders can exercise their rights and vote not to re-elect Brendan Borg, thus sending a message to the board? IMO, if resolutions are not passed at the AGM, the board may rethink contesting the 249D and step down.
    You currently have a guaranteed 6.75% of the registry (RM's), you need lots of effort and another 45% of the registry to get the 249D over the line, good luck because as a previous poster has suggested a lot of small holders will pay little or no attention to what is going on and not cast their vote.
    cheers
 
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