Ann: Resolutions under section 249N of the Corporations Act, page-7

My understanding of it is the following:

They are seeking to promote the idea that shareholders may by way of an ordinary resolution express a viewpoint about how they want directors to act within a power that the directors have. It must be material and that relevance has to be decided by the directors. It cannot advocate anything illegal or deal with any personal claim or any grievance. As the directors have to act for the company it cannot be a binding resolution otherwise the resolution probably violates the companies act as they are charged with running the company.

So they can propose that we don't want you to explore for gas in the Great Australian Bight. Then that would probably pass and the company would have advised its directors not to explore there. I don't really want them to explore there but I don't want it cast in stone either.

My view once you wedge the door open you can carry on a campaign to make sure that you vote on the easy ones then you keep moving it closer and closer to the hard stuff. The next one being that you do the BP guys fall onto sword - I want BP to be carbon neutral by 2050. Then they say why cannot WPL agree to do the same. So they slowly wedge the company which in my opinion will reduce the potential shareholder base as a company being wagged by activists really should just close down.