Strikes (FYI), page-6

First 6 Last

Share
Profile

Follow
Cornbinder

53 Posts.

17/05/15

16:46

Post #: 15296052
Share

Originally posted by DutchStanton ↑

The ‘two-strikes’ law is designed to hold directors accountable for executive salaries and bonuses. It means an entire company board can face re-election if shareholders disagree with how much executives are being paid. The law is an amendment to the Corporations Act and came into effect on July 1, 2011.
FIRST STRIKE
The ‘first strike’ occurs when a company’s remuneration report — which outlines each director’s individual salary and bonus — receives a ‘no’ vote of 25 per cent or more by shareholders at the company’s annual general meeting.
SECOND STRIKE
The ‘second strike’ occurs when a company’s subsequent remuneration report also receives a ‘no’ vote of 25 per cent or more.
When a ‘second strike’ occurs, the shareholders will vote at the same AGM to determine whether all the directors will need to stand for re-election. If this ‘spill’ resolution passes with 50 per cent or more of eligible votes cast, then a ‘spill meeting’ will take place within 90 days.
SPILL MEETING
At the spill meeting, those individuals who were directors when the directors’ report was considered at the most recent AGM will be required to stand for re-election (other than the managing director, who is permitted to continue to run the company).
IDEA BEHIND THE LAW
The reform is intended to provide an additional level of accountability for directors and increased transparency for shareholders. Where a company receives significant ‘no’ votes on its remuneration report over two consecutive years, and has not adequately addressed concerns raised by shareholders, it is appropriate for the board to be held accountable through a re-election process.

Expand

G'day all

So now I'm guessing we'll have to wait another 12 months before the pitching of the next curve ball for strike 2.... In the mean time I wonder if the board will take any notice of the shareholders concerns or just carry on regardless..

Cheers
Cornbinder

GGG Price at posting: 8.6¢ Sentiment: Hold Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

Trump is President Again: What Does This Mean for Crypto?

NHF

Burgeoning NZ insurance claims drive 1H25 operating loss for nib

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

ACW

Actinogen receives $9M R&D tax rebate to fund Alzheimer's trial

3DA

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

First 6 Last

Add ETM (ASX) to my watchlist

(20min delay)
Last 2.4¢		Change 0.000(0.00%)		Mkt cap ! $33.80M

Open	High	Low	Value	Volume
2.4¢	2.4¢	2.3¢	$24.66K	1.048M

Buyers (Bids)

No.	Vol.	Price($)
1	701264	2.4¢

Sellers (Offers)

Price($)	Vol.	No.
2.5¢	614000	3

View Market Depth

No.	Vol.	Price($)
1	701264	0.024
2	398182	0.022
3	523195	0.021
5	310777	0.020
3	423195	0.019

Price($)	Vol.	No.
0.025	614000	3
0.026	1906623	2
0.027	1245105	4
0.028	1090403	2
0.029	125000	2

Last trade - 16.10pm 12/11/2024 (20 minute delay)

ETM (ASX) Chart

Strikes (FYI), page-6

Trump is President Again: What Does This Mean for Crypto?

Burgeoning NZ insurance claims drive 1H25 operating loss for nib

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Actinogen receives $9M R&D tax rebate to fund Alzheimer's trial

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Strikes (FYI), page-6

Top Stories

Trump is President Again: What Does This Mean for Crypto?

Burgeoning NZ insurance claims drive 1H25 operating loss for nib

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Actinogen receives $9M R&D tax rebate to fund Alzheimer's trial

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News