Shareholders Meeting in Full Swing - online voting continuesShareholders online voting even picked up the pace after a very cheap move by the CEO. Shareholders are angery at the CEO & Board that not only they refused to call the meeting at their repeated requests but also now put out a false and useless news to call the shareholders meeting invalid. It is very obvious that the CEO and the Board do not want to face the unavoidable verdict of the shareholders.
He is trying despreately to hold on to the power. All of attempts are failing badly. He set the AGM date as far as possibly he was able to legally do it.
The CEO mentioned in most recent press release that he advised the dissidents shareholdes as to how to properly request the meeting. Well, if he was so kind, then why not just call the meeting as he was the one who was going to decide on it. Morever, he each time found a technical fault in the requisition and declined to call the meeting. Finally the meeting is proceeding with the full compliance of the law.
The meeting is now in full swing. The CEO and Board have no power in law do anything but to face the verdict of the shareholders. On December 11th, a lesson will be taught to these elected and appointed people as to who are the real bosses - shareholders.