I don't recall shareholders voting on the appointment of the 1st...

I don't recall shareholders voting on the appointment of the 1st Investment Manager (CGA) and they were given around $200m to manage. So, what's the problem with appointing a 2nd Investment Manager to manage the $27m without shareholder consultation? Get real. These decisions are always taken at Board level.

Anyway, as I read it, the existing arrangements with the Investment Manager (CGA) aren't effected. It's only new funds.

According to the ASX guidelines, 4 of the Directors are Independent, so I can't follow this complaint at all. All of the Directors they want ousted are Independent.

For the record, I do think the Contango name is confusing, but as Juke77 said "Don't care. Just perform. Not going to get 75% so not going to happen. Next".

Bottom Line: Sounds to me like greedy Investment Managers wanting more money, to earn more fees to line their pockets. They say the proposed changes are in the best interest of CTN shareholders. Yeah. Sure they are. CTN already has one Director who is a senior manager of the incumbent Investment Manager (CGA). Give them two more Directors and they're laughing - total control of the CTN Board - and all CTN's future funds as well.  I can hear them rubbing their hands together now.