RE: RE: VMC decision Zak...the translation of "Fence" from Australian to English is "Hex".
Someone noted to me this morning the absurdity of management's rationale for not having a shareholder meeting, under the guise of immediate and imminent deals on the table. Management simply does not trust their hot headed and POd shareholder base to make the right , and only correct, decision at a shareholder meeting and continue supporting McRae and the BOD.
Not unlike the King having no confidence that the peasantry will make the right, and only correct, decision and vote to retain him and the crown, should he grant them democracy. He is just protecting the unwashed masses from themselves.
There might be some validity to that, in the 15th century, or if some un-coordinated mob of drunken shareholders demanded a meeting. But in this case, option B are real managers, with a real board and a real track record of extracting wealth from assets.