This type of operation which is not confined to HEG by any means...

This type of operation which is not confined to HEG by any means has to bring up the question that in light of the financial disasters that the world financial markets have been through, as to why directors and boards can do anything they want to without asking shareholders first.
We buy shares that are voting shares but if we are denied the opportunity to vote are they in fact true voting shares or are we just lending/giving the directors money to play with?
Why don't the authorities do what they have been put there to do