Executive directors do not go up for re-election. So, the baton will pass back to Michael. Doubt that he would survive it as it would be difficult to find anyone favourable to or supportive of his efforts. But imagine this:
1. Getting to 30/6 and no new tranche of shares as the KPIs have failed a second time;
2. Standing for re-election only to get rolled; and
3. Standing for re-election and getting back in only for the SECOND STRIKE to be recorded with then an immediate vote on spilling the Board.
Sometimes, it doesn't get any better (or worse, depending on one's perspective) than this.
Ann: Appendix 4C - quarterly, page-20
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