EXT 0.00% 1.2¢ excite technology services ltd

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  1. 3,704 Posts.
    Very good point Fordtin.

    I think Peter Mac and other board members are large shareholders themselves and would be reticent to put themselves in a situation where they cede all control to RIO (they have had enough headaches with KAH).

    Therefore I think it unlikely that existing board members (other than John Main) would vote in favour of an "official" RIO board member.

    However, if RIO were to accumulate a 40% stake they would have every right to insist on two board members.

    For them to buy another 25% (to supplement their existing circa 15%) would not be an easy task unless there is a large and distressed holder.
 
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