@PS,
I don't think the shareholders can force the Board to deal with a party or individual, but with at least 20% of the voting power they can exert pressure to nominate a director either to fill an existing vacancy or they could seek the removal by way of forcing an EGM and having it go to vote. The other option is for a director to have an "alternative director" nominated and consented then exercise the alternative director if there was a lack of skills in the existing Board that the alternative could fill. I would have to check the details on these comments if a specific case came to mind but as a general forum discussion I think it is broadly correct.
I am sure if I am incorrect that someone will leap forward and eat me alive and post some derogatory observation and usurp what I just posted but at 7:45pm I really don't have an appetite to rush off and check the books, sorry for being lazy.
Cheers
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78.0¢ |
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Open | High | Low | Value | Volume |
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1 | 10000 | 0.650 |
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Price($) | Vol. | No. |
---|---|---|
0.790 | 551 | 1 |
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