re: Ann: Requisition for Shareholders Meeting... Yes, same story...

re: Ann: Requisition for Shareholders Meeting... Yes, same story I posted at the top of the thread.

"With these assurances, Messrs Ellyard and O?Shannassy have decided to resign as Directors of the Company on 31 August 2010 following the General Meeting which has already been convened for that date for the transaction of other business."

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Specifically, the Requisitioning Shareholders are seeking to remove 3 existing Directors ? the Chairman Ted Ellyard, the Finance Director Dennis Wilkins and non-
Executive Director Richard O?Shannassy and replace them with 2 new Directors, Jitto Arulampalum and Frank Cannavo (Proposed Directors).
Under the Corporations Act the Company has 21 days within which to issue a notice convening the requested General Meeting, which must be held within the next 2 months.

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But as Surandy70 points out, the current KEY board may recommend alternative directors.