Ann: Notice of Annual General Meeting/Proxy Form, page-5

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"Rocket"

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23/10/24

22:22

Post #: 76271615
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Originally posted by Vigdorian: ↑

The below was taken from the results of the 2023 AGM:

“As more than 25% of the votes cast on Resolution 1 were against the adoption of the Remuneration Report, this constitutes a ‘first strike’ for the purpose of the Corporations Act 2001 (Cth).”

I’m not a lawyer but I spent a good 5 minutes with Dr google and it seems that if there’s a second strike (i.e. more than 25% of the votes against adoption of the remuneration report) , then there’s a vote to spill the board within 90 days where if more than 50% of the votes are in favour of a spill then within all directors must stand for re-elections.

from memory - there were some angry investors last year due to the lack of results and the issuing of performance options which some deemed excessive .

all the lawyers - please free to correct the above. Everyone else except the annoying downrampers , feel free to chime in if my memory failed me.

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If investors wish to spill the board at this stage of proceedings.... be it to their own peril.

Investors across the whole market always get their nose out of joint with remuneration reports and performance rights etc etc

Personal choice I guess, .... I'm glad to be an investor, and not a director

TLG Price at posting: 37.0¢ Sentiment: Buy Disclosure: Held
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