I recently ran a campaign to remove two Directors from a small...

I recently ran a campaign to remove two Directors from a small Canadian oiler where the Australian based execs were/are underhanded in their dealings with self interest clearly putting their own interests before shareholders.....there's a whiff of that here. Many people on HC were incensed....It takes a lot of time, money & energy. In the end it was akin to herding cats. I chucked it in. Was spent.

Threats to Directors often go unheeded unless it comes with the backing of at least 5% of the Register for a 249D. Here, the Directors seemingly are onboard and no wonder considering the remuneration structure for supporting the transaction.

The ASX and ASIC are useless unless there's a clear breach and even then it's slow & tedious. You need criminality. That's not what's being served here....it's arguably dirty & blatantly unfair I think but that doesn't cut intervention from regulatory oversight bodies. Even the largest shareholder has indicated its backing. It's going to happen even if it's distasteful. And it is.