We'll have to wait twelve months. As stated by rusty we can't...

We'll have to wait twelve months. As stated by rusty we can't remove the MD via a spill. Here are the 'rules' below.

The second strike If, at the next AGM after the first strike occurs, the 25 per cent threshold occurs again, then a vote is to be put to the AGM for a resolution that a meeting (spill meeting) of the company’s members is to be held within 90 days;

• all of the company’s directors, aside from the managing director, who were directors at the time of the Later AGM (relevant directors) will cease to hold office immediately before the end of the Spill Meeting;
• resolutions to appoint persons to offices that will be vacated before the end of the Spill Meeting will be put to vote at the Spill Meeting
• The Spill Meeting must be held within 90 days or an offence will have been committed; all of the Relevant Directors will cease to hold office immediately before the end of the Spill Meeting and all of the directors appointed at the Spill Meeting will commence to hold office at the end of the Spill Meeting.
• Re-appointment will not affect a directors term of office; and no fewer than three directors may be left after a Spill Meeting. If less than three directors would be left, then enough directors to make up three will be deemed to be appointed. These are the directors who possess the highest percentage of votes favouring their appointment.

If we wished to band together we could force a second strike this time next year. Is it time to start getting active to force this company to fulfill its undoubted potential? Alternatively, the directors could simply pull their fingers out and put together a robust plan that is actioned.