I have been comparing the vote for Boon yesterday (224 million) with the vote to reappoint him at the AGM in October 2011 (341 million), a fall of 117 million.We know that Orbis holding 111 million intended to vote against Boon so that leaves a fall of 6 million.Price's interests held 30 million and with Orbis his total would have been 141 million.However the vote against Boon was 208 million so Price got an additional 67 million votes from somewhere.Not a good result for Harry Boon when you consider the full page "ad" in the AFR and the effort that the Board must have put in to supporting their Chairman. Price may have lost the battle but the war is far from over and Price will point out any future lack of performance . Perhaps the Board will find it's all just too hard and recommend a bid from some predator. PPX had 46,652 shareholders in August 2011 of whom 41,021 held less than a marketable parcel (based on a share price of 10.5c).Perhaps another record for Harry-nearly 90% of shareholders with less than a marketable parcel?
SRS Price at posting:
9.6¢ Sentiment: None Disclosure: Not Held
