CTP central petroleum limited

Ann: Notice of Annual General Meeting / Voting Form, page-12

  1. 6,467 Posts.
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    If the remuneration report is voted down (>25% against) a second time they are required to hold a resolution on spilling the board (vacating all non-executive positions).

    But it requires 50% approval (as opposed to 25% for the second strike) so is a difficult bar to cross. Likely outcome is they will cop a second strike but the spill motion will be rejected.

    Although I suppose we'll see whether the remuneration changes they made (lowering LD's salary etc) have convinced some of the instos to back them.
 
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5.8¢
Change
0.002(3.57%)
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Price($) Vol. No.
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