My understanding Jello is that if the board receives more than 25% of votes against the remuneration policy they are given a warning or "strike" then if the following year they also receive more than 25% of votes against the remuneration they receive a second strike and as such are required to resign from the board at which time they along with anyone else can nominate for re-election to the board at a special general meeting.
The new board is then elected at this EGM - as I understand it. Happy to be corrected.
The CVN board have just received their first strike from a collective of disgruntled shareholders that seem to think that the board are overpaid for achieving what they see as nothing this year. I mean its not like this year was different or anything.......
Ann: Results of Meeting, page-16
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Last
20.0¢ |
Change
-0.005(2.44%) |
Mkt cap ! $357.7M | |||
| Open | High | Low | Value | Volume |
| 20.0¢ | 20.5¢ | 20.0¢ | $377.2K | 1.884M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 517767 | 19.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.5¢ | 944125 | 15 |
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| Last trade - 16.10pm 04/07/2024 (20 minute delay) ? |
| CVN (ASX) Chart |