The method of voting on resolutions at the up and coming OBJ AGM will default to a 'show of hands' unless a request for a poll occurs by shareholders attending the AGM. This has significant implications for those who are sending in their votes, as ultimately if the show of hands to the floor is adopted, your votes are meaningless - absolutely meaningless, just symbolic in nature.
Under Sections:
12.8 of OBJ's constitution states "At any general meeting a resolution put to the vote of the meeting shall be decided on a show of hands unless a poll is demanded in accordance with clause 12.10.
12.9 of OBJ's constitution states "Unless a poll is demanded, a declaration by the chairman that a resolution has on a show of hands been carried or carried unanimously or by a particular majority, or lost, and an entry to that effect in the book containing the minutes of the proceedings of general meetings of the company, is conclusive evidence of the fact without proof of the number or proportion of the votes recorded in favour of or against the resolution"
12.10 of OBJ's constitution states " A poll may be demanded before or immediately upon the declaration of the result of the show of hands by: (a) the chairman of the general meeting; (b) at least 2 shareholders present in person or by proxy, attorney or Representative; (c) any one or more shareholders holding not less than 5% of the total voting rights of all shareholders having the right to vote on the resolution; or (d) any one or more shareholders holding shares in the company conferring a right to vote at the meeting, being shares on which an aggregate sum has been paid up equal to at least 10% of the total sum paid up on all the shares conferring a right to vote at the meeting.
12.11 of OBJ's constitution states "If a poll is duly demanded, it shall be taken in such a manner and either at once or after an interval or adjournment or otherwise as the chairman directs, and the result of the poll shall be in the resolution of the meeting at which the poll was demanded. A poll demanded on the election of a chairman or on a question of adjournment shall be taken forthwith."
I am requesting my proxy to ask for a poll on all resolutions at the AGM. If you want your votes to count at the AGM, you will need to also request a poll. I suggest by placing a thumbs up here, the HC OBJ holders who are attending the meeting will be able hear our voice and request the poll as per constitution rights above. That way all our votes are counted!!!
Thumbs up if you want a poll for resolutions at the AGM.
Jonty
OBJ Price at posting:
3.6¢ Sentiment: Hold Disclosure: Held
(20min delay)