If you've been following events at Cardno this week, you've probably developed a new sense of appreciation for the importance of proportional takeover provisions in a company's constitution. The resolution to adopt or renew the proportional takeover provisions in the constitution features routinely on AGM meeting agenda. Yes, it includes a lot of boilerplate disclosure. This note explains more about this constitutional resolution (VIEW LINK) We usually recommend shareholders vote for the inclusion of these provisions within a company's constitution. And note: the resolution to include or renew the proportional takeover provisions within the constitution is a special resolution, requiring at least 75% of the votes cast to be for the resolution.
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