I would like to see a general meeting where shareholders vote on disclosure of the original JV agreement with FMR and the amended version, and a requirement that the Board provide an explanation for the changes, and to advise whether they had independent solicitors advise on the negotiation of both versions. For good measure, independent shareholders should put up for appointment an independent director (not in any way associated with any actual or potential business partner of the company) to look out for the interests of mum and dad shareholders. They might get outvoted be required to keep secrets secret, but they'll have the right to look at everything and be there to testify if ASIC ever feel motivated to have a look-see.
The current Board will trot out "commercial in confidence" to try to prevent it, but in reality there should be nothing that will impact the commercial interests of either party. If they suggest there are, they can redact the relevant sections (but we'll see the context of the redactions).
Both require a 50% majority of those "present and voting" including proxies.
BAR Price at posting:
2.0¢ Sentiment: Hold Disclosure: Held
