As stated in the Explanatory Memorandum of the Notice of Extraordinary General Meeting ......
"As the Company announced on 31 October 2023, it has terminated the employment of Lachlan McKinnon as its Chief Executive Officer and Matthew Parker as Chief Financial Officer. Both Lachlan McKinnon and Matthew Parker will continue to work for the Company until their notice periods of 12 months lapse or until otherwise advised.
In the employment agreements of Lachlan McKinnon, Matthew Parker and Cherry (Chong) Wang, each employee has the right to immediately terminate their employment with the Company (with associated payments) in circumstances where there is a material downgrading of their position, responsibilities, functions or status within PET by the Company, orwhere there is a change of control of PET."
Shareholders voting at this meeting had this information.......they would have had to be paid out for the notice period even if they hadn't been paid in advance. Shareholders voted to change the board and risk these 2 walking out with full pay. Can't whinge now.
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