In situation like this you want the following to occur:
1. Have the S249 lodged with its reasoning
2. Hopefully the SWF board/management will meet with the parties and potentially resolve their differences. If positive the 249D will be withdrawn.
3. If they do not agree as to how to move forward, if the party leading the 249D can clearly demonstrate that they have backing from significant Top 20 shareholders, then management should resign. Looks more professional and saves un-necessary cost. If the party issuing teh S249D are unable to demonstrate a likely majority then likely the EGM will still go ahead as they have nothing to lose.
Top 20 is only held by like 50% so it will be a fight via proxy.
Is a S249D coming to throw out the board?, page-2
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