My understanding and I am not a lawyer of the process is that the requisitionng shareholder(s) provide the proposed resolutions to the existing board who must call meeting within 21 days and hold within 60.
If board fails to call meeting then shareholders can post out notices and hold meeting.
This may be what the current board is looking at as a loop hole if Chris Scott did not first request board to hold meeting.
Common sense you would hope prevail though and two meeting combine into one.
I sense existing board's ego will get in the way of listening to the will of the majority of shareholders
How can a strategic review take so long on a company they were supposed in charge of and therefore should have intimate knowledge on.
I think it is just buying time to ensure everthing is documented to cover their behinds and sell as many assets to get cash in the door.
MFS
mfs limited
