member support %, page-6

interesting.... the whole article is here: http://www.abc.net.au/news/2014-05-15/us-investment-house-bringing-shareholder-activism-to-australia/5454910

US investment house bringing shareholder activism to Australia

By Ian Verrender

First it was hedge funds. Then came private equity. Now, American activist funds have turned their eyes to Australia.

This morning, a small Perth-based oil and gas explorer, Antares Energy, came under attack from a US investor that only recently snapped up a 5.3 per cent stake in the company.

Lone Star Value Investors has announced it will attempt to roll the board and has called for an extraordinary general meeting of shareholders to elect five new directors.

"We are seeking to call this EGM because we believe that Antares shareholders should be given the opportunity to vote to improve their board by adding five highly qualified, independent directors whose interests are fully aligned with those of all shareholders and whose experience is highly relevant and complimentary to serving board members," Lone Star head Jeffrey E Eberwein said.

In a letter to Antares shareholders, delivered to the ASX, Eberwein said the proposed new directors would have expertise in petroleum engineering , finance and capital markets which was needed to, "improve corporate governance and to create a strategic plan to enhance value for the benefit of ALL (accent included in letter) shareholders."