GGP 0.00% 0.6¢ golden gate petroleum ltd

not long to go now, page-124

  1. 7,746 Posts.
    "The fact is as share holders we can do nothing to the management with out hurting ourselves."

    Not sure that's right. Shareholders already used the 249D which is just one avenue available to us. Right now their is BCC, NSE, NDO, etc all in various stages of 249D. BCC was ruled invalid. Often HC is used to rally the troups.

    Even minority shareholders have a say, but generally lose eventually.

    From memory GGP have one strike for remuneration, so we have recourse against the ridiculous salaries and large losses. And I think GGP will feel that pressure next AGM. Personally, I can't see them surviving.

    More likely they will do what they did last year and pre-empt the challenge by replacing a couple directors and hoping that is enough. In that scenario I think SG would step down. The new ones would stay on without the baggage of past failures.
 
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