I realize all of that, but it is sending a message loud and...

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Somme

1,554 Posts.

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15/11/22

13:24

Post #: 64781976
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Originally posted by anfearcul: ↑

It's not as cut & dried as that Somme.

If Resolution 1 is not passed, the Directors will not be required to alter any of the arrangements in the
Remuneration Report.

Nevertheless, under the Corporations Act, a ‘two strikes and re-election’ process in relation to the
Shareholders’ vote on Resolution 1 is required and provides that:
• A ‘first strike’ will occur if this Remuneration Report Resolution (Resolution 1) receives a ‘no’
vote of 25% or more. If this occurs, the Company’s subsequent remuneration report must
contain either an explanation of the Board’s proposed action in response to the ‘no’ vote, or an
explanation of why no action has been taken by the Board.

• A ‘second strike’ will occur if the resolution to adopt the remuneration report at the next annual
general meeting of the Company also receives a ‘no’ vote of 25% or more. If this occurs, the
Shareholders will vote at that annual general meeting (the Spill Resolution) to determine
whether the Directors will need to stand for re-election at a separate, subsequent general
meeting (the Spill General Meeting). If this Spill Resolution passes with 50% or more of the
eligible votes cast, the Spill General Meeting must take place within 90 days from the relevant
annual general meeting.

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I realize all of that, but it is sending a message loud and clear that the majority of holders are not happy and he is on notice.
I am hoping that this was conveyed to him personally today.

HIO Price at posting: 11.0¢ Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

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(20min delay)
Last 1.8¢		Change 0.000(0.00%)		Mkt cap ! $20.31M

Open	High	Low	Value	Volume
1.8¢	1.8¢	1.7¢	$67.99K	3.865M

Buyers (Bids)

No.	Vol.	Price($)
31	8969792	1.7¢

Sellers (Offers)

Price($)	Vol.	No.
1.8¢	1598487	7

View Market Depth

No.	Vol.	Price($)
31	8969792	0.017
28	4542168	0.016
15	2302221	0.015
8	4045999	0.014
5	959633	0.013

Price($)	Vol.	No.
0.018	1598487	7
0.019	1871263	5
0.020	1694434	3
0.021	2418631	5
0.022	1307678	7

Last trade - 16.10pm 30/07/2025 (20 minute delay)

HIO (ASX) Chart

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