Ann: Notice of EGM and Proxy Form , page-2

Extended period of underperformance by ROC and nothing out of Allan Gray.

ROC Board finally embarks on an initiative that results in a 20% SP appreciation, and Allan Gray pipes up to try to block the initiative. And with its relatively small holding, it looks like a futile exercise that only wastes money and diverts attention.

I'm sympathetic to the view that shareholders should have a say when a company is contemplating a greater-than-50% "dilution", but why not do the hard yards and take it up with the rule-maker (ASX), rather than handicapping a single company in which you have an investment?