We are all tired of being kept in the dark about the activities of the BoD particularly those of DC.
Are you irritated enough? Are you sufficiently irritated to call a meeting to ask for answers to questions that concern us about the direction of PIO!
I think this is what we need to do.
Section 249D of the Corporations Act now provides that the directors of a company must call and arrange to hold a general meeting on the request of members with at least 5% of the votes that may be cast at the general meeting.8 The percentage of votes that members have is to be worked out as at the midnight before the request is given to the company and this determination is ordinarily made by examining the company’s register of members.9For a requisition of a general meeting to be valid it must:be in writing;state any resolution to be proposed at the meeting;be signed by the members making the request; andbe given to the company.10The directors must call the meeting within 21 days after the request is given to the company and the meeting is to be held not later than 2 months after the request is given to the company.11Although 100 members of a company are no longer able to require a general meeting to be called and held, 100 members of a company are still able to
ropose resolutions for inclusion on the agenda of general meetings that have already been called through proper means;12 andrequire the distribution of statements, at the company’s expense, in relation to a proposed resolution or a matter that may be properly considered at a general meeting.13
Why complain, take some direct action to stir DC into doing something positive. Instead of attending numerous and pointless meetings that serve only to erode shareholder capital. If he attends some talk fest I want to know the objective
and what was achieved.
