The Long Term Investor Struggles, page-185

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AlCp

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11/12/24

15:17

Post #: 77001327
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Originally posted by amb005 ↑

To be fair investors are waking up to this nonesense, look at the meeting results:

View attachment 6672186

Over 25% of sharehoolders voted NO to remuneration report. This triggers a first strike. For those not aware here is brief run down of the first strike rule and what it means:

The ASX First Strike Rule is a corporate governance mechanism designed to give shareholders more power over executive pay. Here's how it works:

What triggers a First Strike?
At the Annual General Meeting (AGM), shareholders vote on the company's remuneration report—which outlines the pay, bonuses, and other compensation for top executives (like the CEO and senior management). If 25% or more of the shareholders vote against the remuneration report, this is considered a "First Strike."

Consequences of a First Strike
A First Strike is essentially a warning shot. It doesn't immediately change anything, but it forces the company to take notice. The board must explain how they will address the concerns raised by shareholders regarding executive pay. They have to review their compensation policies and, ideally, make adjustments.

Second Strike—What Happens Then?
If the company receives a Second Strike—that is, another 25% or more of shareholders vote against the remuneration report at the following AGM—the company faces more serious consequences. A Second Strike can lead to a vote to spill the board, which means shareholders can vote to remove the directors. If this vote passes, the company has to hold a board election to replace the directors who have been ousted.

And let's talk about those votes against Paul Hopper's 'extra perks.' Over 40% of shareholders gave that package the thumbs down. Now, that’s a message Paul can’t ignore. It’s time to stop treating IMU like your personal ATM to fund you and your mates’ lifestyle. Shareholders aren’t asking for more promises, they’re asking for results. Keep pushing freebies, and you’ll be out the door!

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Probably why PH hasn't pull the trigger on the CR while having over $40M in cash at the beginning of next year........
IMU Price at posting: 4.0¢ Sentiment: None Disclosure: Held
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(20min delay)
Last 26.8¢		Change -0.013(4.46%)		Mkt cap ! $77.89M

Open	High	Low	Value	Volume
28.0¢	28.5¢	26.5¢	$508.1K	1.862M

Buyers (Bids)

No.	Vol.	Price($)
19	441949	26.5¢

Sellers (Offers)

Price($)	Vol.	No.
27.0¢	6501	2

View Market Depth

No.	Vol.	Price($)
19	441949	0.265
26	405255	0.260
22	541193	0.255
30	438983	0.250
12	136183	0.245

Price($)	Vol.	No.
0.270	4132	2
0.275	264392	15
0.280	123548	8
0.285	183467	10
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Last trade - 14.39pm 07/08/2025 (20 minute delay)

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