Yes! It supposedly a public company! It’s not a toy for the rich to dictate too!
MCB and his cohorts have the opportunity to create there own green company and compete against AGL. If their theory is right, AGL will succumb to public pressure and go into liquidation.
If there are poster's from the legal profession from my perspective it looks more like a predator act!
Previous, when I used to reside in a Unit complex, the penthouse owner never had the right to dictate to other Unit owners on how and where the sinking fund must be spent! This is basically what his wealth and poll voting allows him too do, dictate to other shareholders on the direction the company must head.
I can’t believe the the Act allows this to happen to a public company…how un Australia is this concept when there are other private business entities allowing such behaviour.
Personal I don’t give a stuff what the outcome is, as I don’t even have 500 shares but l'm simply against the stupid Corp Act allowing such behaviour.
Maybe us disgruntled shareholder’s should request a special resolution in transitioning AGL into a limited liability proprietary company to stop him getting public funding!
Well wasn’t that his initial intention take it as a private company!
AGL Price at posting:
$8.72 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)