So Under the ACT there is no choice for the BOD
CORPORATIONS ACT 2001 - SECT 249D
Calling of general meeting by directors when requested by members
(1) The directors of a company must call and arrange to hold a general meeting on the request of members with at least 5% of the votes that may be cast at the general meeting.
(2) The request must:
(a) be in writing; and
(b) state any resolution to be proposed at the meeting; and
(c) be signed by the members making the request; and
(d) be given to the company.
(3) Separate copies of a document setting out the request may be used for signing by members if the wording of the request is identical in each copy.
(4) The percentage of votes that members have is to be worked out as at the midnight before the request is given to the company.
(5) The directors must call the meeting within 21 days after the request is given to the company. The meeting is to be held not later than 2 months after the request is given to the company.
So we should know the date of the EGM by the 11th Jan at the latest. Would this then mean we have a meeting spilling the positions and then a later 2nd one to vote for nominees? If so the costs seem to be rising and the confusion dragging out. I would expect if RM or associate tried to stand they would not be able to cast their votes on the motion/s.
Could the big volume on Thursday(69M on ASX alone) have been a raid in preparation of this Requisition?
Hopefully JM and crew will just carry on and ignore the board room battle.
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Ann: Requisition of Meeting under Section 249D, page-47
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