Hi getmurt, an important distinction needs to be made. We require 5% of total shares on issue in order to call for an EGM, but we only require 50.1% of the votes cast to be in favour of the resolutions in order for them to be passed. Generally institutional holders such as First Sentier (MUFG), Allianz and Paradice don't bother casting their vote. I expect the voting on any EGM resolutions to be a retail investor dominated event, and frankly, I don't see a lot of support from retail holders for retaining the services of Conidi or even Pett for that matter.
Will the Board be able to rally sufficient support from large institutional investors? I guess time will tell.
Hi getmurt, an important distinction needs to be made. We...
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