COMPANY COMMENT: Vote of 213-million loses the day at BHP
The process of amending a company’s constitution is inevitably slow and often occurs in fits and starts
17 November 2017 - 06:14
BHP Billiton shareholders with 213-million shares voted to amend the company’s constitution to allow shareholders to express non-binding opinions on the way in which the powers of the directors have been exercised. That sounds like an impressive level of support. But such is the enormous size of BHP, the resolution failed because shareholders with 2.8-billion shares voted against it. A further 161.7-million shares abstained.
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