Ann: Allkem shareholders vote in favour of merger with Livent, page-94

"I also agree my learning is as a shareholder you don't really have a say."

When I look at the composition of the shareholders (see below), I can see clearly that the small shareholders (holding no more than 5000 shares) could have easily defeated the proposed scheme which I believe didn't serve their interest. That is if only they had cared to vote to protect their interest.

So I would say it is not that small shareholders (collectively!) don't have a say, it is that most small shareholders don't care or don't know how to exercise their right to have a say.

And sadly this recent event has probably made some shareholders feel that it is futile to exercise their right to have a say in the future, which will perpetuate the (false) belief that small shareholders (collectively!) don't have a say, much to the delight of major shareholders and their allies in the management.