is it worth as many shareholders as possible to attend the AGM...

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coolcat1941

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04/05/22

15:37

Post #: 61202968
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Originally posted by TerribleTadpole ↑

Yes, this illustrates the problems of trying to requisition resolutions in the meeting:

Shareholders can only requisition "agenda items", meaning items that have to be actioned. In practice that means resolutions to be decided. Our "letter" would have to be framed as a supporting statement for a resolution. It would be difficult to draft a statement "in support of our resolution" that urges people to vote against a different resolution. I suspect we'd lose a lot of voters along the way.

The board gets to provide a response, meaning they get the final right of reply. If we mail directly to the shareholder after the booklet is released it means we are more likely to have the final word in the argument.

Getting 100 signatures for a requisition is going to be insanely difficult. The "undersigned" have to provide name, number of shares held, and their signature. We'd have to get holders to each print a copy of the requisition, sign individually, and mail or fax it to the company. To cut down on the number of pieces of paper we could have some people agree to sit for a day in a cafe or library so other holders could come and find them and add their details. But I don't want to take on the logistics of organising this, and then coming up short on numbers or having the requisition knocked back because the requisitions aren't all "identical".

I would worry that we'd be so late in the game that we'd miss a lot of voters who might already have voted.

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is it worth as many shareholders as possible to attend the AGM to add to the number of hands to show a NO vote??
RAP Price at posting: 11.5¢ Sentiment: Buy Disclosure: Held
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