The vote on the constitution is to keep the shareholders interests in line with 'the Corporations Act 2001 and the ASX Listing Rules'.
For example proportional takeovers can be used to oust management teams (IDG recently comes to mind).
Whilst this can be a normal corporate ploy it should still be the owners of the company (ie the shareholders) who have the ultimate say in any type of takeover bid - or anything to do with the company for that matter.
There has been a lot of discussion about Ernest Albers recently. With big game players like him around I think shareholders interests need to be looked after.
The fact that shareholders are being asked to vote on an up to date constition confirms this.
MEO Price at posting:
63.0¢ Sentiment: LT Buy Disclosure: Held
