Ann: Management Share Scheme Strategic Review, page-107

Disagree jonkey1995 (a rare case). Calling an EGM would be a shot across the bow of the the VOR board. The outcome of any resolutions put forward on the day is largely immaterial IMO, what matters is that the board knows shareholders are mobilising to agitate for change. That is enough to potentially change behaviours IMO/solicit some concessions/ improved disclosures. Ultimately it will depend on the perceived bargaining positions of both parties.

You don’t need to strike the knock out blow in the first round. But it ultimately comes down to someone’s willingness to lead the charge. VOR’s board is banking on minority shareholders not doing anything. If they are worried about a shareholder revolt, they sure aren’t showing it.