Please correct me if I'm wrong but I don't think a second strike means a spill of the board. It simply means we get to vote on whether the directors should stand for re-election, aka resolution 8.
When a ‘second strike’ occurs, the shareholders will vote at the same AGM to determine whether all the directors will need to stand for re-election. If this ‘spill’ resolution passes with 50 per cent or more of eligible votes cast, then a ‘spill meeting’ will take place within 90 days.
Read more: http://www.smh.com.au/business/agm-season/what-is-the-twostrikes-rule-20121008-278us.html#ixzz2kKJcQQi2
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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6 | 5363259 | 0.3¢ |
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0.4¢ | 16651283 | 29 |
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29 | 66412551 | 0.002 |
23 | 71264054 | 0.001 |
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Price($) | Vol. | No. |
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0.005 | 9399025 | 14 |
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