My best guess is management knows Trust has done a bunch of cosy deals over the years that won’t look too great under harsher scrutiny. The late Meyer was third generation at the helm with zero oversight let’s not forget, so one can imagine what went down behind the scenes with a combo of growing infirmity and no accountability. As he aged and got ill, current management worked their way in - understandably - but the pay rises and Meyer death created this proxy perfect storm.
Still wish Packer and Barry would grow a pair and stop hiding behind their lawyer pitbulls and sit down with Oliver. Absorb his suggestions like real leaders.
Company assets are uniquely amazing but legal bills are going chip a dollar plus off the annual dividend.
Perhaps the old regime doesn't want an investment firm coming in and screwing with the works. I can fully understand why they'd oppose them. Especially when what they are doing is working. How many companies have enough shares with insiders to control all votes. I'd say most of them.
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