Assume that you are talking about "ITEM 5 – APPROVAL OF THE CASH CONVERTERS RIGHTS PLAN"
Which removes the requirement to issue more than 15% new shares if they are part of a rights plan. I am new to investing, but this smells off to me. Why can the board not come back and ask again next AGM if the shareholder are happy with the rights plan it is offering to it's executive directors? If it has been as successful as they expect, we will all vote in favour of it... where is the problem with that?
Given that there is a possible spill motion (item 8) the shareholders have already expressed their unhappiness with the remuneration plan previously proposed, I cannot see how they could all of a sudden be given the ability to dilute equity for the benefit of the executives for ever more.
Recommend: No
Ann: Notice of Annual General Meeting, page-3
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