This isn't going to be a surprise ... but you are a tad confusing!!
On one hand you wholeheartedly agree with @Scarpa 's post:
Where he said the 249D action is the lesser or more immediate action facility to use versus a "class action", but also went on to say that GPP is a dead man walking without any changes. He also said that "getting rid of the BOD or having new blood on the BOD is the priority here IMO if SH want any hope of 'upwards' here because without change GPP will eventually die a slow death IMO" as well as he also didn't think the 249D would be successful given current shareholder ownership in GPP, but note that the RM's do hold a total equivalent of half of Kings holdings.
On the other, when replying to other posters it is the wrong solution, but you have also failed to actually offer an alternative other than suggesting a class action.
As the issuing of the 249D is in the interests of ALL shareholders, it is ludicrous to suggest they will be withdrawing the notice because of the perception of losing a vote count. I will repeat what I said, if the "acquisition" when announced is for the betterment of the shareholders and is a mechanism to move GPP forward, the RM's will continue to act in the best interests of ALL shareholders and withdraw the notice.
This company firstly needs some one with a multifaceted ability to be reactive and going forward proactive....
Sometimes the horse has already bolted past the post, to this end, Suleyman (Sam) Balcioglu (nominated for the board) along with Yilmaz Balcioglu have proven they are more than capable of dealing with the onset of reactive behaviour when they were the lead applicants in the class action against major airlines....
https://www.theage.com.au/news/busi...0m-class-action/2007/02/01/1169919472132.html (wannabes?)
I strongly put my support behind the RM's solely on the opinion they will be able to achieve what this company needs to do to repair the current debacle the shareholders are faced with; and moving forward Sam, one of the proposed RM's has demonstrated his ability to act on past indiscretions (re: Airlines) as demonstrated above as well as his involvement in his past and current business ventures to which he was the founder, developer, engineer and previous Managing Director of Auskay.
He has an astute business acumen that will align with what is needed to move GPP forward.
All IMO only
cheers
ps: IMO King WILL step down from his management role regardless of whatever the acquisition is, finally being forced by shareholders sentiment as expressed by the issuing of the 249D.....
