Under the `two strikes’ rule, if more than 25 per cent of shareholders vote against two consecutive remuneration reports it triggers a vote on a board spill. A spill resolution must then be put to a vote at the second AGM and, if passed with 50 per cent or more of eligible votes cast, a spill meeting must be held within 90 days to elect directors.
Under the `two strikes’ rule, if more than 25 per cent of...
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