The 5% figure is purely a statutory (minimum) requirement where an individual or group, can call for a spill of the board. In this case it is not the whole board.
The board from memory were "considering" the request but I believe they will have no alternative but to agree for the meeting. That being the case, the announcement must be imminent with the obligatory 30 day notice for the meeting. During that time, we will all get to see from both parties, what the reasoning is behind it.
Without being too cynical, I guess their intentions are (or should be) to, leg WME onto the bigger playing field while the opportunities are still there. The nomination of the new members certainly would add excellent management strength to an undermanned, or overloaded, geological team.
The structuring of the placement options, should also not be underestimated as to how big a task they have taken on.
All good IMO.
WME Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
