MLM are currently going through the BOD removal process. As a disgruntled SH group you’ll need min 5% SOI (approx 140M shares) to call a meeting to vote the BOD out. The SH group is responsible for all costs associated with calling the meeting. The SH group should be targeting other substantial holders prior to see if they have any chance of success at the meeting.
On 10 September 2018, two groups announced they were substantial holders in the Company:➢ Pacific Continental Holdings Pty Ltd with 409.1m shares (15.44% of the Company’s issued capital)➢ Strat Plan Pty Ltd ATF Strat Plan Trust with 155.1m shares (5.85% of the Company’s issued capital).
Not sure if the above two are in cahoots with TC or ECP.
