Second strike is a two step process:
1. REM Report = 2nd strike if >25% of shareholder votes cast on the REM resolution are in the -ve.
2. SPILL motion = is then immediately put and requires then the 50% of votes cast in support in order to succeed.
Even if the SPILL motion didn't succeed, the governance harm and damage done would be virtually terminal and AR /MK would be considered as toxic waste goods in any dealings involving anyone else.
****Note****
None of the KMP's (ie: MK, AR, PS, IM, NL, etc) can vote any of their shares in reference to the REM report. Such (if it occurred) would be considered a conflict. So, that likely takes >16M shares out of the equation.
Under the SPILL motion, however, I think (but still need to check on this) that everyone's votes count.
But then, separate to this would be the following:
3. the HACKETT vote = that's right folks, he's up for re-election this year and, in voting terms, can't use his votes (or those related to him) to prop himself up. This also requires 50% of votes cast, in the -ve in order to boot him from the board and to never come back. So, he would need a lot of support out there given that his 12M+ votes would not be able to be accessed.
AHF Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
