I agreed with your summation on the vulnerability of this management. I have been through a similar situation. in year 2016 I had a few millions BGS shares. Some of us at HC were not happy with the directions the company was going. Our representative went to te office to talk to the CEO then. He was not affirmative to our requests. We sorted out a few top shareholders who agreed to support us. A few of us got together to exercise S259 of the Company's Act. The company called up shareholders to try to change their mind and on the eve of the EGM the board called off the EGM. They knew they would lose, thus they immediately resign to save face. The board underestimated the degrees of shareholders discontent. Most shareholders tend to support management, however their investments are involved. The will support an alternative board if they feel that their capital is at risk they will want change. Shareholders normally used this as a last resort as stability is important however will accept changes when necessary to do so.
MAN Price at posting:
3.6¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)