I take solace this appears to need to be passed by special resolution, which requires 75% of shareholder approval. I'm confident there's no way they'll get this up.
From the corporations act:
Shareholders can make decisions about the company by passing a resolution, usually at a meeting. A "special resolution" usually involves more important questions affecting the company as whole or the
rights of some or all of its shareholders.
If a meeting is held, an ordinary resolution must be passed by a majority of the votes cast by shareholders of the company entitled to vote on the resolution at the meeting in person or by proxy (if proxies are allowed). A
special resolution must be passed by at least 75% of the votes cast by shareholders of the company entitled to vote on the resolution and who vote at the meeting in person or by proxy (if proxies are allowed).
http://www5.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s1.5.1.html#special_resolution