Just looking at the last IFE AGM and 2010 Annual report with adoption of 1) remuneration report and 2) re-election of Ian Finch.
These were carried by a vote of 26,610,000 give or take for each resolution.
Annual report states TRF holding is 26,400,005 at that time with top 20 IFE holding 36,911,724 for 70.14% giving a total of apx 53,000,000 shares.
For those resolutions to pass it looks like TRF used the voting block? Given directors are common is this ethical?
Or can someone explain how it works to me.
http://www.asx.com.au/asxpdf/20101001/pdf/31svv9tpmdpz00.pdf
http://www.asx.com.au/asxpdf/20101129/pdf/31v7w5rfmd3n63.pdf
time changes everything?, page-8
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