1. If the board all voted for Axel to be retained and voted all the proxies the same as well - then how did a significant block muster the votes to get him off? What is the percentage required to vote a board member off? Because the block was nowhere near 50%+1. How does it work and why isn't he still there?
2. If you acquire more than 5% of a listed company it must be declared to the market. I would be flabbergasted if a single entity could just start a bunch of nominee companies, acquire 4.9% in 10 different companies and then step out of the shadows and say "here I am and I already own 49% of the company - so here is a low ball offer". Surely that is illegal? Similarly if two separate entities (e.g. Merck/Phizer) conspired together to acquire more than 5% that would seem to have all sorts of legal anti-competitive ACCC restrictions and so on. Essentially, any attempt to skirt the 5% declaration would be shut down legally would it not? How does it work?
For those in the know I'd appreciate your thoughts. Thanks.
IMU Price at posting:
36.5¢ Sentiment: Buy Disclosure: Held
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