ESG 0.00% 86.5¢ eastern star gas limited

fin review page 45, page-43

  1. 8,605 Posts.
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    goodaye again mreye,

    i found what i was looking for.

    i think the Scheme is put to s/h at a General Meeting, but requires certain level of votes.

    So i think if one could gather those 100 member required, one could request ESG to include some documentation in a mailing to s/h, at the expense of ESG.

    It is for a proper purpose, and related directly to the Scheme, and i think ESG would have trouble arguing against it.

    It may be worth waiting for IER before one does it, but it would be worthwhile to gather the 100 members in advance, because there would not be time between the IER and the vote to get it all togather.

    PS - the other course I once considered was appearing before the Court. In order for the Scheme to be applied, the Scheme and results must be approved by the Court. They must get approval prior to sending out the Scheme docs, then they must get Court approval in order to implement the Scheme after the Meeting.
    ESG s/h might wish to make an appearance at Court to argue their case, but could be expensive.

    **************************************
    CORPORATIONS ACT 2001 - SECT 249P
    Members' statements to be distributed
    (1) Members may request a company to give to all its members a statement provided by the members making the request about:

    (a) a resolution that is proposed to be moved at a general meeting; or

    (b) any other matter that may be properly considered at a general meeting.

    (2) The request must be made by:

    (a) members with at least 5% of the votes that may be cast on the resolution; or

    (b) at least 100 members who are entitled to vote at the meeting.

    (2A) The regulations may prescribe a different number of members for the purposes of the application of paragraph (2)(b) to:

    (a) a particular company; or

    (b) a particular class of company.

    Without limiting this, the regulations may specify the number as a percentage of the total number of members of the company.

    (3) The request must be:

    (a) in writing; and

    (b) signed by the members making the request; and

    (c) given to the company.

    (4) Separate copies of a document setting out the request may be used for signing by members if the wording of the request is identical in each copy.

    (5) The percentage of votes that members have is to be worked out as at the midnight before the request is given to the company.

    (6) After receiving the request, the company must distribute to all its members a copy of the statement at the same time, or as soon as practicable afterwards, and in the same way, as it gives notice of a general meeting.

    (7) The company is responsible for the cost of making the distribution if the company receives the statement in time to send it out to members with the notice of meeting.

    (8) The members making the request are jointly and individually liable for the expenses reasonably incurred by the company in making the distribution if the company does not receive the statement in time to send it out with the notice of meeting. At a general meeting, the company may resolve to meet the expenses itself.

    (9) The company need not comply with the request:

    (a) if the statement is more than 1,000 words long or defamatory; or

    (b) if the members making the request are responsible for the expenses of the distribution--unless the members give the company a sum reasonably sufficient to meet the expenses that it will reasonably incur in making the distribution.

    http://www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s249p.html

 
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