So, After reading google and company announcement I believe if...

So, After reading google and company announcement I believe if anyone to blame the debacle behind staying with the same CEO & Chairman even after share price fell 69% on NASDAQ are the AVH shareholders (97.19%) who voted to approve redomiciliation scheme to make ASX as secondary listing and NASDAQ listing.

The reason why there is no "against" option in the AVH director election in my opinion is because Avita use "Plurality Voting" system to elect directors which basically gives life long seat on board (if the wanted) in my opinion ... lol ......... so unless CEO & Chairman get's out due to act of GOD/Nature nothing you and I can do... in my opinion based on my brief reading of how Plurality voting system works in US .. lol which is opposed by Council of Institute of Investor and obviously many AVH holders like me (now) in my opinion.

This is good learning exercise for me so thought I share what I have on hand.

If you ever come across company who wanted to list on NASDAQ and make ASX secondary listing then make sure they are not going for Plurality voting because AVH in their scheme booklet section 12.9 and section 9.3 (c) talked about going for plurality voting however in their scheme booklet clause 6.2 didn't disclose biggest disadvantage to Australian shareholders about Plurality voting where shareholders can not remove directors by voting "against" them similar to the right Australian holder had before going to redomiciliation and I believe this should have been spelled out in disadvantage section which they didn't so I would take legal advise on if I had money to take it further .. IMO.

Clause 9.3 (e) talks about removal of the directors by majority of US shareholders but who is that majority? need to see proxy form of US holders to see if it is any different but basically opting for plurality voting has simple intention by management and I am sure people would now realise why in my opinion .. lol

Scheme booklet reference:

https://newswire.iguana2.com/af5f4d73c1a54a33/avh.asx/3A541029/AVH_ASIC_Registers_Scheme_Booklet_for_Redomiciliation

See below comparison between Plurality voting and Majority voting (which we mostly see on ASX). I have not read the whole document but those interested can refer it on below. I have not verified whether information is correct or not as you can understand neither I am lawyer nor smart like some Drs here who think current management is good for AVH .. lol

https://www.cii.org/files/issues_and_advocacy/board_accountability/majority_voting_directors/CII%20Majority%20Voting%20FAQ%201-4-17.pdf








As always everything here is my opinion and information referenced are not verified for accuracy & correctness so please do you own research .. ! Good luck