The ‘two-strikes’ law is designed to hold directors accountable for executive salaries and bonuses. It means an entire company board can face re-election if shareholders disagree with how much executives are being paid. The law is an amendment to the Corporations Act and came into effect on July 1, 2011.FIRST STRIKEThe ‘first strike’ occurs when a company’s remuneration report — which outlines each director’s individual salary and bonus — receives a ‘no’ vote of 25 per cent or more by shareholders at the company’s annual general meeting.SECOND STRIKEThe ‘second strike’ occurs when a company’s subsequent remuneration report also receives a ‘no’ vote of 25 per cent or more.When a ‘second strike’ occurs, the shareholders will vote at the same AGM to determine whether all the directors will need to stand for re-election. If this ‘spill’ resolution passes with 50 per cent or more of eligible votes cast, then a ‘spill meeting’ will take place within 90 days.SPILL MEETINGAt the spill meeting, those individuals who were directors when the directors’ report was considered at the most recent AGM will be required to stand for re-election (other than the managing director, who is permitted to continue to run the company)
- Forums
- ASX - By Stock
- Ann: Results of Annual General Meeting
The ‘two-strikes’ law is designed to hold directors accountable...
- There are more pages in this discussion • 11 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add EGR (ASX) to my watchlist
(20min delay)
|
|||||
Last
14.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $65.83M |
Open | High | Low | Value | Volume |
14.5¢ | 14.5¢ | 14.5¢ | $4.118K | 28.39K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 51273 | 14.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
15.5¢ | 63187 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 51273 | 0.145 |
3 | 57985 | 0.140 |
6 | 219704 | 0.135 |
6 | 252115 | 0.130 |
1 | 200000 | 0.125 |
Price($) | Vol. | No. |
---|---|---|
0.155 | 63187 | 2 |
0.160 | 275060 | 7 |
0.165 | 104624 | 2 |
0.170 | 19872 | 3 |
0.180 | 91508 | 3 |
Last trade - 15.47pm 30/05/2024 (20 minute delay) ? |
|
|||||
Last
14.5¢ |
  |
Change
0.000 ( 0.00 %) |
|||
Open | High | Low | Volume | ||
15.0¢ | 15.0¢ | 14.5¢ | 13060 | ||
Last updated 15.31pm 30/05/2024 ? |
Featured News
EGR (ASX) Chart |
The Watchlist
INF
INFINITY LITHIUM CORPORATION LIMITED
Ryan Parkin & Ramón Jiménez Serrano, Managing Director & Executive Director
Ryan Parkin & Ramón Jiménez Serrano
Managing Director & Executive Director
Previous Video
Next Video
SPONSORED BY The Market Online