There is a bit to it! Under section 203d(1) of the corps act removal of a director of a public company requires 50% of the shareholders to vote in favor.likewise if one of the directors was up for re-election at the next AGM they could appose the election, but would need 50% of the votes cast. As gary Johnson controlls almost the same amount of votes as the LIT BoD it is very unlikley this would get up.
they (LIT) could be a bit of a pain but at the end of the day cash is king and allowing the LIT BoD to walk away with $4m for issuing 24m new shares in LIT (if they could find an insto buyer)
Ann: LIT: Declares LPD takeover bid free of defeating conditions, page-42
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Last
0.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $17.17M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.3¢ | 0.2¢ | $2.57K | 1.034M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 75 | 71232057 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 67119639 | 49 |
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| Last trade - 14.11pm 15/11/2024 (20 minute delay) ? |
| LPD (ASX) Chart |