Surely management are now getting the message that they just cannot continue such a cavalier, "I'm right and you don't matter' approach.
Citi's recent analysis under the heading "Karoon has trust issues" says it all. In business/commerce, maybe life in general, if you don't have trust you have nothing, or soon will have nothing.
I am heartened by the suggestions that they are now engaging in discussions with Fred W & co.
On this basis, it might be a good result if Directors get a huge fright on the negative vote, but remain + there is open dialogue to tighten up wordage with respect to dividends and returns to shareholdrss + realignment of incentives to shareholder returns + open and earnest discussion on the state of Who Dat plus their acquisition intentions going forward.
It's already looking like a break in the sky for activist intervention. Hope so.
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