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50.5¢ leo lithium limited

Can the shareholders raise a extraordinary meeting - YESand put...

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fooca

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06/07/24

23:30

Post #: 74640125
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Originally posted by DavoMagic: ↑

Can the shareholders raise a extraordinary meeting and put the company into administration based on managerial incompetence?? Ignoring any non-insolvency can shareholders have grounds to force organisations into administration, via resolutions from meeting(s) and then the newly appointed administrators organise investigators on behalf of shareholders to audit and provide appropriate governance to move to the next path if shareholders have no confidence in management including the board?

Future communications would then be between the administrators and shareholders through the various appropriate mediums of communication and they can help operate with Mali and Gangfeng and give independent advice in the shareholders interests, the correct path forward, including how to handle relationships/partnerships with Gangfeng and Mali

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Can the shareholders raise a extraordinary meeting - YES
and put the company into administration - NO ......

from Lawpath.com.au/blog

"In conclusion, the administration process is long and complicated. However, administration only occurs as a result of insolvency ....(sic)"

Your interpretation re: "based on managerial incompetence?"
Do you have examples?

LLL Price at posting: 50.5¢ Sentiment: None Disclosure: Held
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