Ann: Receipt of Notice under Section 249D of Corporations Act, page-4

In the next 3 weeks, the board will have to call a general meeting.
The interesting thing here is a CR right on the Xmas break, so, no rest for the wicked...how the CR affects % holdings will be interesting.
The board can now sit tight on their seats and resist, or, resign.
In many cases, a meeting is called, voting commences and then, if the board see the vote build to a point they can see the writing on the wall, they would probably resign thus " preserving their dignity"....the change of board happens without fuss and the meeting is cancelled.
In one 249 I was involved in, this was the case, though the directors fought up until the end of the day, the day before the meeting.
That's a typical scenario, or two, actually. Whether this one plays the same remains to be seen, as long as Raging Bull has the backing, he'll win it over