Re Alinta Ltd (No 2)

The case of Re Alinta Ltd (No 2) was heard by the Supreme Court of New South Wales. The matter involved a dispute regarding the procedures for a shareholder meeting of Alinta Ltd. The primary issue was the manner in which certain documents and proxy forms should be distributed to the shareholders. The court was tasked with deciding on the appropriateness of electronic distribution of these documents in lieu of physical mailing, in accordance with specific legislative requirements and previous court orders.

The legal issues before the court included whether the electronic distribution of the Booklet, containing important information for the shareholder meeting, complied with the relevant provisions of the Corporations Act. Additionally, the court had to determine if the requirement to send certain documents by prepaid ordinary post could be waived, and if the online lodging of proxy forms was permissible. The court also needed to ensure that all methods of distribution were equitable and accessible to all shareholders, including those overseas.

The court found that electronic distribution of the Booklet to shareholders who had nominated an email address for receiving notices was appropriate and in compliance with the Corporations Act. The court ruled that the need for physical mailing could be waived if the electronic method was deemed sufficient and equitable. Furthermore, the online lodging of proxy forms was approved as an additional method, provided it was clearly communicated to the shareholders. The court emphasised that all methods of distribution must be fair and ensure that all shareholders had equal opportunity to participate in the meeting.

The court made several orders to facilitate the electronic distribution and online lodging of proxy forms. These orders allowed for the Booklet to be sent electronically to shareholders who had nominated an email address. Additionally, the court ruled that physical mailing was not necessary if the electronic method was used. The orders also permitted the online lodging of proxy forms, subject to specific instructions provided in the Booklet. The final orders ensured that all shareholders, including those overseas, had the opportunity to participate in the meeting through multiple distribution methods.