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This is where democracy goes wrong...500 can vote Ridsdale out but ten can vote him in...the ten major shareholders win.

Democracy only works if those in charge want it to. I can't see anything major coming of this EGM and all the big guns know it. I bet they're not even sweating about it, it's just another meeting in the day for them.

corky wrote:This is where democracy goes wrong...500 can vote Ridsdale out but ten can vote him in...the ten major shareholders win.

So someone invests money into the club, gets say 500k shares. Someone with a single share should have the same weighting in terms of voting?

That's where democracy goes wrong!

It's unfortunate in this situation, but to advocate introducing inequality to company laws isn't the answer.

corky wrote:This is where democracy goes wrong...500 can vote Ridsdale out but ten can vote him in...the ten major shareholders win.

That's not quite what happens. If Ridsdale votes he casts 4m shares, if Flitcroft votes he casts 400k shares etc.

It is democratic because you vote depending on your influence through share ownership (unfortunately)

corky wrote:This is where democracy goes wrong...500 can vote Ridsdale out but ten can vote him in...the ten major shareholders win.

Agree Corks.

Only time shareholders listen is when they have no customers to fleece but looking at TLG and his shareholding report you can see in the main they aint worried about the customer as the profits have been gained elsewhere!