"The total for the three 3B's is 2.1 million shares, out of roughly 1.3 billion shares."
Not all the 1.3 billion shares vote.
Have a look at the June and July 2012 General meetings and how close the voting was.
The Askin,Dunmore,Whittle group would not have survived if it were not for the chairman's proxy votes.
So will 2.1 million shares make any difference on the remuneration report vote.
It may not, but then again it may just save the second strike.
Bear in mind it ONLY requires a NO vote of 25% or more to achieve a second strike.
That then will automatically spill the board within 90 days.
I can assure you there are a great many shareholders with a significant amount of shares that already total more than 25% of the last vote, who will most certainly be voting against the remuneration report, just waiting to see the Askin,Dunmore,Whittle group have to stand for election and get removed.
There was extreme shareholder anger demonstrated against the way the meetings were conducted,when they had to defend themselves from being removed in June and July 2012.
There is no doubt in my mind that Cottee and Herrington and Gasteen will survive by a solid majority at such a vote.
But certainly NOT Askin,Dunmore,Whittle group.
I seriously doubt that the insto's will provide any support this time to keep Askin,Dunmore,Whittle.
We shall see.
CB
CTP Price at posting:
92.5¢ Sentiment: Hold Disclosure: Held
