The corporation's act thought that 100 shareholders would be enough to give rise to allow those shareholders to propose a resolution. Essentially if you take it to its logical conclusion 100 people could all own 1 share. You will say that can't happen because you have to buy a minimum of $500 or $600 of shares but you can in fact sell smaller parcel so this exercise could cost effectively 100 @$15.00 brokerage or $1500.00 I suspect practically they may all own 100 shares.
However in the scheme of things you just vote the resolution down and keep voting it down. I think there is a method which can block this from coming up each year but every year it will get voted down and you will have to listen to someone present their argument why its in the interests of the planet but not the shareholders.
The sad case here is that Australian coal is much cleaner burning than say from South Africa but the argument is that they will stop all coal use. That isn't at all likely so stopping Australian coal would only increase pollution.
If Australia abandons coal now we will be far poorer and a lot of welfare just won't happen.
Just make sure you vote at the AGM.
NHC Price at posting:
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