So here we are at that time of year again and we all know what happened last year. Over 25% of SHs voted not to adopt the remuneration report. Strike one. Are there enough disaffected SHs to get over the 25% line again this year? Strike two would bring on a spill motion. This has the potential to remove the whole board excluding the managing director who is leaving the board on the 30 Nov anyway. It appears that some disaffected SHs have left the building but I presume not all. Many it would seem are holding on as the amounts they have lost are so substantial as to make any subsequent losses insignificant. They hold perhaps with either the same tenacity as the black knight in Monty Python and the Holy Grail or with the simple resignation that one gets when one finally comes to terms with a morbid diagnosis. How these SHs vote will probably have quite an effect on the company. Time will tell.
XPE Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held
