Hatrack, I have been wondering if Number 3 is an explanation. I...

Hatrack, I have been wondering if Number 3 is an explanation. I reckon there would be some gatekeepers before the flood gates can be allowed to open and directors having the power to offer a stake - not beholden to shareholders - puts management in a good position to negotiate. I think some shareholders have a false sense of 'their rights' and forget that the 'enemy' is not management but outside organisations. if you don't trust management to be mostly on the side of the company then there is no excuse for being invested in the company. if you think continuous disclosure means you should be privy to every nuance then you are naive. the last thing you want is for a business to tear its self apart by infighting. all the resolutions are recommended by the board. they know more than we do. let's not forget our positions in the pecking order and have a bit of humility. if shareholders want to punish or send a message to management by reducing their power to be flexible in very complicated negotiations then I believe that is cutting your nose to spite your face.