Going going gone, page-479

For process /style, quite apart from looking at the Corporations Act (s249Doutlines the required process), take a look at what Black Prince has done in relation to BAL. Their XGM spill meeting is on Tuesday.

With such an open register (top20 only hold 23% as at Sep16) but with >20,000 shareholders overall >16m shares would be required in order to requisition a meeting. This probably would need many shareholders to sign up absent several of the Top20 breaking rank.

Pursuing an XGM however would spell the death of the Company, its board and management. Neither the board or management would survive the resulting damage control, even if they were to stare down the Rebellion - (in best Darth Vader voice: "you are part of the Rebel Alliance"). Confidence would be shot but more importantly, the air of supreme confidence /arrogance would be fatally pierced. But just like Hawke to Keating, perhaps Skippen would need to be sand blasted out. Much more likely though is that he will be gone in any event within the next 24 hours (for reasons previously explained). The unknown is Grech.