News: CCE Carnegie Clean Energy Signs Implementation Deed For Acquisition By Tag Pacific Of Energy..., page-127

One of my other investments copped a second strike last financial year. The issues I believe were very high MD salary, and no external directors, just family. As required, the other directors stood resigned (MD is not required to). At the required special meeting, the directors who stood down were the only people nominated and were elected.

So there needs to be a plan for what to do if there's a second strike vote.