i m out for now!

This is ugly! and of course the managements have themselves to blame, the salary is exotic compare to the share price performance. They need to clean up their act now so its a good kick where it is needs.

However, I think it s true the investment fund is having some unhealthy agenda which is not one of the reason they gave. If they intended as stated to better the company management they should engage the company, not take over control without paying a price. They could engage the company a number of way such as take bigger stake in the company and use that to influence the board or appoint one of their own director to the board (not 5) and contributing in steering the company business.

This is definitely an opportunist move they know the shareholders are angry as the way the company have been managed and lack of communication between the board and shareholders. They have to have some ugly plan by doing so, I suspect they could be working with the previous failed bidder who wants to get the company asset for cheap at 300M.
By take over the control of the company without paying premium and take advantage shareholder anger, they could force through a sell of assets to the previous bidder.

5% stake and want 5 directors seat? that s a blatantly opportunist move! as if AZZ shareholder don't have enough director mouths to feed already! this gona be an ugly fight for sure and that gona affect company operation and the share price bad! I will be out on the sideline for now and watch this fight instead, don't want to get in collateral damage due to the fight of these guys.

I wouldn't vote for the proposal completely either. The best compromise shareholder can take this opportunity to register they anger would be remove 1 of the company director Vicky and replace her with 2 of the proposed directors so as to bring new faces, new skills and experience to the board. Most important of all they can keep an eyes on the board and CEO making them work for shareholders not themselves or run the company like their milking cow machine.

There you go shareholders, here is your chance to register your anger. However use it wisely then you will benefit of the change but I wouldn't give these guys a 100% control out right for no premium paid either as they definitely have some ugly agenda behind.