I hate saying this but I can't find a single succinct article - google "Two strikes rule ASX".
Only 15% of shareholders approved the Remuneration Report. That means only 15% of the shareholders agree that the Directors are getting paid the right amount.
If more than 25% vote against this is considered a "First Strike". If at the next AGM the company gets a "second strike" then there is a another vote for them to all stand down.
85% of shareholders votes against the Remuneration Report. It's a huge protest and I can't see why. The three directors are only paid a combined $150,000 per year.
Also 40% of shareholders voted for an empty chair instead of Ian Hastings.
GLA Price at posting:
2.9¢ Sentiment: Buy Disclosure: Held
