Pencilin - no still not correct. They got their first strike last year, if they get second strike this year (25% vote against remuneration) then the spill must be voted on but in order to actually be spilled they need 50% of votes for a spill - firstly voting against remuneration is very different to voting for a board spill (note not CEO spill - although tough to survive once a hole new board in) and secondy 50% is a massive hurdle. So just because 2nd strike doesn't necessarily mean a spill - in fact odds on it is very unlikely BUT the 2nd strike can be used for large shareholders to put more pressure on company for board members to resign - ie we won't vote for spill as long as x, x and x resign and are replaced by y, y and y
RFE Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
