Why don't shareholders try and roll the board

I remember reading that shareholders in AGS were once able to request the calling of a General Meeting under section 249D of the corporations law.

http://www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s249d.html

Shareholders would only need 5% (of votes to be cast at the meeting) to make this request.

The resolutions to be pasted could go something like this.

1) Removal of the entire board and replacement with an interim board made up of nominees of the instigating share holders.
2) Suspension of the acceptance of the Quasar offer until a suitably qualified board can be found to replace the interim board made up of the nominees of the instigating shareholders.

What this might do is give incentive for any large remaining institutional investors to vote in favour of the rolling the board if they can position their representatives on the board and get their hands on the project and/or honey pot. The shareholders instigating the meeting could also contact the larger non-IG holders of stock to see if there is any interest in getting new management put in place.

Anything would be better than what the company has now.

Eshmun