The whole process of removing a member of management is quite involved and above and beyond most as there are potential costs involved together with paperwork which has to be executed in the correct sequence, unless the board of directors initiate the process. Then the costs are bourn by the company. Hell, Might actually get some actual work out of this mob.
...WITHOUT PREDIGOUS...
My very limited research on this matter ,
1) 249D form. Request for removal form. ( This form is for the company to initiate the process)
or
249F form. ( this form is for a shareholder action outside of the company's control)
2) 203D form. Must be submitted or directors can disregard the action.
3) Request must be in writing.
4) Request must state a any resolution proposed at the meeting.
5) Company must have atleast three directors.
6) Must nominate a candidate and submit such to the board of directors to approve.
7) Atleast 5% Of shares on issue are required to start the process, which in my very rough calculations off old numbers , is roughly 149,571,428 shares.
8) All requestees must disclose full names , holdings etc.
9) all paperwork needs to be executed to a tee or the board can dismiss motion. I.e $ to engage a professional in such field to organise , collate all required information & execute to board.
This is all above and beyond me Hence I belive the board should get of their a...s and engage this process on behalf of shareholders.
The disrespect showen to holders is astonishing.
On a separate issue with this company I have spoken to the ASX and also ASIC about six months ago and still no reply/ action.
Good luck you have my vote.
Regards, Esq
ESH Price at posting:
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