Ann: Notice of General Meeting/Proxy Form, page-20

Sadly, these sorts of corporate shakeups don't usually make it into the public sphere unless the proponent (Mr Mende) has near certainty it will get over the line.

As evidenced from the notice of meeting, there has been plenty occurring behind the scenes that the majority of shareholders wouldn’t have been aware of without the notice to remove the MD. (Certainly not referred to in Quarterly Reports for example)

So, the notice does assist with lifting the veil on whats been occurring recently and the utterly opaque ownership structure (itself a probable reason in part for the diminished market cap since listing / and its previous listing prior to being de-listed)

If you look @ the Top 20 shareholdings from the 2021 Annual Report.

Mr Mende potentially has influence / control over….

Ntsimbintle 19.90%
AMCI 7.44%
Mende 5.44%
Kundrun 4.82%

= 37.60%

That’s without adding in the HSBC Custodial Holding of 12.23%

= 49.83%

To overturn the 37% or perhaps the 49%, almost 100% of the non-aligned and retail shareholder base would need to vote against the proposal.

Its’ also made even more difficult when it appears POSCO will abstain from voting on the key tasks.

When you look at the usual listed public company voting patterns, retail shareholders most often don't vote as they understandably feel that their 500, 1000, 10,000, 100,000 shares won’t have any impact on the outcome and subsequently feel dis-empowered.

The consequence is that often retail holders don’t vote….

(This plays into the hands of the Corporate Raider, such as in this instance imo)

Clearly it’s important for folk to express their vote, regardless of the outcome.

GLTA.