Ann: Mining Contractor at Granville Appoints Liquidators, page-312

Regardless how you look at it. A 5% no confidence vote is substantial and should cause ANW to pause and respond to concerns raised properly. Otherwise they do face an adverse action which is supported by the the Corporations Act. So they have to take notice.

One thing to keep in mind - this may not necessarily end up with an EGM - but as a kick in the butt may give them the "encouragement" to perform better and actually run the company like a business rather than the hobby farm it's been the last 12-24months.

GLTAH