Gilles Pty Ltd is a small gold miner. Osmund, Thomas, Charles, Rowland and Edward are its directors. Together they hold 60% of the shares. In the years when Gilles Pty Ltd makes a profit the directors made sure that dividends were only paid up to 50 percent of profits after tax with the rest being retained by the company. This has not changed in 10 years. However, they did increase their director's remuneration by $50,000 each year regardless of performance. Catherine and Mary, two sisters who have been long time shareholders in the share registry of Gilles Pty Ltd, rely on dividend income for their retirement. In light of these facts, what remedies are available to Catherine and Mary ?

Answer according to the corporation act 2001