re: shareholders want to sack board

sorry....balance of article

"I'm trying to give you hope, I share your pain, but we have a plan to move forward," Mr McMan us said.

"This company has potential but not the management."

Once he had control of the board he wanted to conduct a complete review of the business, its products and commercial viability.

Mr McMan us said he was being helped with his plan by business associate Ron Lunt, an executive director of Melbourne technology security company, Senetas Corp, where Mr McMan us has a major shareholding.

He said he was looking at all options for the company and could not rule out the possibility of an outside party taking a tilt at QRSciences, whose share price has slumped to 5.6c, valuing the Perth company at less than $20 million.

Executive chairman Kevin Russeth said it was every shareholder's right to requisition a meeting but he believed the board, management, employees and majority of shareholders were aligned.

"Generally, business is very positive. What I do have an issue with is destructive shareholder behaviour," he said.

"I believe there is a lot of grand-standing and I do think there is a lot of anger and rage that is misguided, misdirected and misinformed, and all of that will come out in the wash."

At times, acting chairman Gary Pennefather struggled to keep control of the meeting, as he tried to rule questions out of order but was shouted down by shareholders with calls of "answer the questions" and "what have you got to hide".

The shareholder with the shortest fuse was long-term backer Peter Dorizzi, who made it clear from the start he was going to have his say.

"Don't push me, buddy," he said to Mr Pennefather after having his question dismissed. "You let me talk in here or I will talk to you outside."

Shareholders complained about being constantly diluted by placements while not having the chance to maintain their stake through rights issues.

Mr Russeth apologised to shareholders for not considering rights issues to raise equity and said the company had taken the suggestion on board.