Lockyer Deep - From the horse's mouth OR What the JV partner really thinks about Lockyer Gas, page-306

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Joannie

11,620 Posts.

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04/03/23

14:49

Post #: 66602075
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Originally posted by MrKeb: ↑

As a corporate lawyer, in the event of a hostile takeover attempt of ASX.NWE, list the laws that are in place to protect the interests of minor shareholders, in relation to the appointment of directors to the board?

1. Section 203C of the Corporations Act 2001 (Cth) requires a company to appoint a person as a director who holds at least 5% of the issued capital of the company.

2. Section 250H of the Corporations Act 2001 (Cth) requires a company to inform its members of the process of appointment of a director in the event of a hostile takeover attempt.

3. Section 250K of the Corporations Act 2001 (Cth) requires a company to take into consideration the views of minor shareholders when appointing a director.

4. Section 250L of the Corporations Act 2001 (Cth) requires a company to appoint a director who has sufficient expertise and experience relevant to the company's industry.

5. Section 250M of the Corporations Act 2001 (Cth) requires that a company appoint a director who is not a significant shareholder of the company and who is not associated with a significant shareholder of the company.

6. Section 250N of the Corporations Act 2001 (Cth) requires a company to provide its members with an opportunity to participate in the appointment of a director in the event of a hostile takeover attempt.

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Hi MrKeb,

Re 5. Am I correct in assuming that this means, a director of the takeover company cannot be associated etc?
If so this is good.

6. I like as well.

Thank you.

NWE Price at posting: 6.7¢ Sentiment: Buy Disclosure: Held
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Lockyer Deep - From the horse's mouth OR What the JV partner really thinks about Lockyer Gas, page-306

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