Ozjin, a Section 249D shareholder meeting is a good shareholder activism response to remove the incumbent Chaiman and 2 directors in particular. Query any replacements. The 5% posse is probably achievable, however, > 50% to effect the changes is unlikely.
Nevertheless, going through the process of forcing the Board to call the meeting would send a clear message of shareholder disquiet and a wake up call to those either asleep at the wheel or indifferent to wider shareholder interests.
Hopefully the ‘message’ sent would finally result in some positive internal changes, desirable management, transparency now sadly missing, practical recognition of concerns aired at the meeting and with a new Chair less influence of the CEO over the Board that seems to have been in play.
CDY Price at posting:
23.0¢ Sentiment: Hold Disclosure: Held
