Time to call an EGM?

Perhaps it’s time to call an EGM to remove the board of directors, given they are no longer working in the interests of shareholders. The Corporations Act allows shareholders holding 5 % of the votes to call and hold an extraordinary general meeting.

Under the Act, shareholders have the power to change the composition of a board.
Could we get information on how to proceed from bodies like the Australian Shareholders Association? Believe it’s a matter of getting the right forms from ASIC. Does anyone know anything more about this?

Even getting this under way would force attention on the board and compel them to provide full disclosure on their dealings with Pybar.

If unsuccessful it is a chance to publicly embarrass the board members. These things often go to the press and it is perhaps not a good look to be on a board that shareholders want to be rid of.

If successful it could lead to us getting company directors who actually want to run a company.