Are there whispers of a take over?, page-9

The change from 9 to 10 is said to be because of "This increase is to account for growth in the Company and to preserve flexibility going forward." It is a real bizarre statement given they have stated previously they were happy with 3, and you have added 1 to your number.

Article 13.7 of the Constitution specifies that no non-executive Director shall be paid as
part or whole of his remuneration a commission on or a percentage of profits or a
commission or a percentage of operating revenue. This sentence is omitted from the
Proposed Constitution.

The Proposed Constitution allows Directors to participate in Share plans and to receive
other non-cash benefits as part of their normal remuneration. If the Proposed Constitution
is adopted, the Company will still need to comply with the relevant requirements of the
Listing Rules and the Corporations Act.

Directors never buy on market, so it would be the latter. You are correct to be cynical. The take over measures get more attention but this stuff still snuck in, though it is a moot point since all resolutions will pass.