Acme Ltd (Acme) is an ASX-listed agricultural company that supplies major supermarkets with fresh produce daily. Acme's main competitor is Beta Ltd, which is controlled by the feisty New Zealand corporate tycoon Mick Doonan. Mick has been keen to take over Acme since he moved into the Australian domestic market seven years ago. He formulates a plan to obtain a strategic stake in the company to contain his competitor and ultimately secure control via a hostile takeover. Mick convinces a number of institutional shareholders to sell their stakes to him slightly above market price, which gives him a 16 per cent share in Acme. This makes Mick the only foreign national shareholder in Acme. Over the next two years, Mick secures a position on the board and begins to cause trouble by secretly leaking information to the press in order to embarrass the company and keep the share price low. Mick also votes against every proposal put forward by the board at the members' meetings. Acme's board is keen to remove Mick from the board and the share register, so the Board members devise a plan (codenamed 'Project Rainbow') to alter the company's constitution to totally remove Mick from the company. The company proposes to hold an extraordinary members' meeting on 30 August to vote on the following resolution: Proposition 1 that the company's constitution be amended so as to provide that any shareholder who is not, as of 1 July, an Australian citizen or (if a corporation) whose main residence is not in Australia must divest themselves of all shares in Acme Ltd by selling their shares to the company at $2 per share. Proposition 2 that if proposition 1 is not carried, the company's constitution is to be amended by providing that any shares held by persons other than Australian citizens on 1 July will be stripped of their voting rights immediately. Your Task: Advise on what remedies Mick may have against the above Proposition 1 and Proposition 2. Include in your response an assessment of how Mick's own conduct is relevant for determining 2020 Trimester 1 LAW9302 WOLL/SYD Law of Business Organisations Page 5 of 6 whether he should have a remedy, where Mick is a member of Acme Ltd and also a director of the company. Give reasons for your answer referring to the Corporations Act 2001 (Cth) and/or cases as relevant to support your arguments.