I have worked for companies who have had the major S/H turn up and tell the the MD where to go, and he did.
A 249D (or other mechanism) should not required if the major S/H's pick up the phone to the board and tell them to resign or else be publicly thrown from their office at the next AGM/EGM. We all know how this works, you get a tap on the shoulder, you resign, the company make an announcement saying how wonderful you have been and that they wish you all the best for your future endeavors. Everyone knows that it is BS however the company saves face by not having to publicly admit they hired and paid a drongo, and the drongo saves face and doesn't have to suffer the humiliation of being arseholed out of their job. This happens everyday at senior and board positions in companies Australia and world wide.
Why hasn't this been done by the major shareholders if they are as pissed off as so many on this forum say? If so many are talking directly to the major shareholders as has been suggested why hasn't the call to the board been made? Why is there a need for a secret coup when a phone call form 3 or 4 holders is all that is realistically needed?
I am not a lover of this board, I am however a realist. If the major shareholders are all as pissed as you say, why haven't they tapped the board on the shoulder?
EGO Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
