March 5, 2010
If 100 shareholders sign up, a company must distribute up to 1000 words on an issue to all shareholders in an Australian public company under s249P of the Corporations Act.
ANZ: employee Joy Buckland had a s249p statement from her colleagues at the Finance Sector Union when she ran for the board in 2003.
Coles Myer: Australian Shareholders Association had a 249p statement in 2002 during the battles to eject Solomon Lew from the board.
Commonwealth Bank: Finance Sector Union resolution on restructuring in 2004 supported by 11.8% of shares voted despite s249p back up which was petitioned by 900 shareholders.
David Jones: ASA resolution in 2002 calling for the chairman not to be re-elected with s249p statement.
Foster's: s249p statement from ASA in 2004 after botched disposal of ALH and general poor performance.
Lend Lease: ASA 249p statement in 2001 complaining about poor performance.
National Australia Bank: ASA resolution in 2004 calling for Geoff Tomlinson to be sacked with s249p statement delivered 39.7% support as shareholders vented their anger after the debacles such as Homeside and the foreign currency losses.
Orica: ASA 249p in 2001 calling for board cull after years of under-performance until Malcolm Broomhead shook the place up.
Pacific Dunlop: ASA 249p in 2000 after years of under-performance.
Paperlinx: ASA s249p statement at 2005 AGM about poor performance which sparked a stinging rebuke from chairman David Meiklejohn who claimed it was misleading.
Telstra: ASA s249p statement in 2001.
National Australia Bank: rejected resolution in 2006 from the FSU raising concerns about risks to reputation arising out of Global Outsourcing project but was supported by a s249p statement which did go out.
St George: the FSU ran a s249p statement in 2008 for the St George EGM calling for opposition to the constitutional amendment and scheme of arrangement. In a matter of days they had received over 600 signatures from shareholders supporting the 249.
Telstra: the ACTU ran a s249p statement at the 2008 AGM raising concerns about shareholder risks associated with the National Broadband Network. Read media release.
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