Also it may be worth you reading section 172, chapter 10 of the UK companies act 2006. The directors of a company have a responsibility to act in the best interests of all share holders. Including minority shareholders.
The company going private doesn't change the governance of this law. So if they haven't reached the 90% mark an audit of the company can be requested by as little as 10% of the vote and a general meeting requested by as little as 5% of the vote.
I don't think they will get to 75% though so even if they change directors the new directors will still be bound by the Companies Act 2006
- Forums
- ASX - By Stock
- UNV
- News: UNV Universal Coal Responds To Terracom Announcement
News: UNV Universal Coal Responds To Terracom Announcement, page-12
-
- There are more pages in this discussion • 24 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
RNU
Renascor wins a funding boost given it wants to produce a critical mineral – but $5M award pales in comparison to some
TLX
Telix jumps 11.6% as US government indicates proposed medicare changes won't affect prostate cancer drug