Shareholder Action, page-113

Just reading the company's constitution and I found out the real reason behind NOT HOLDING an AGM

6.3(d)....".If the company has less than 3 Directors, one Director must retire at each AGM."

Also we knew the following but a good reminder

6.1(d) If the number of Directors is below the minimum fixed by this constitution the Directors must not act except in emergencies"

However we know they don't abide by the rules of the ASX or their own Constitution so that probably doesn't surprise anyone.

IMHO

ASIC should also investigate CTL's Company Secretary as he would be aware of all these breaches and does nothing.