re: Ann: Replacement Notice of 2013 Annual Ge... Hi CSGguy,
I think that's the point.
The board no matter their shareholding (they can hold 0% and upwards it makes no difference)has effective control of the company in regards to day to day management of the company as long as their actions remain within listed company guidelines.
So what the current board is saying is correct.
Having 3 non-independent members collaborating at board level of a five member board would effectively give them control of the company.
Shouldn't be the case in any public company.
That does worry me.
Ann: Replacement Notice of 2013 Annual General Me, page-3
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