It could be a little while before we get a statement from the company. There are time frames involved but obviously it would be best for investors and the company to get things moving asap so that there is as little disruption to business as possible. The regulations around this sort of thing state:

249D(5) The directors must call the meeting within 21 days after the request is given to the company. The meeting is to be held not later than 2 months after the request is given to the company.

Let's hope things aren't dragged out for 2 months. I still have strong confidence in George Lucas. It will be interesting to hear from the company if they release a statement with some more info on what's prompted all of this. The market seems to not be too worried with the share price bouncing back from yesterday's lows. 

It's a most unfortunate circumstance for all other shareholders that ultimately become affected. Previously I have been involved in a similar situation and probably the most difficult thing is to try and establish what is the best way forward for the company. (Even if you know the views of both opposing sides!).

Unless you're an insider you won't know many of the issues that are at play, but for certain if it can't be resolved quickly the company's business will most likely suffer. Even if it doesn't many investors will steer well  clear until the meeting plays out and possibly for longer, so most likely the share price will be under pressure for some time. Other management can lose some focus during this time, which impinges on business outcomes.

As a non-holder it's easy to simply watch on to see how it plays out, but as a shareholder it's so difficult to know whether to walk away by selling out, or holding on and hoping.

It is going to be fascinating to watch this play out - a bit less so in the short term as I am a shareholder with stock down 14% on the news.  Best to sort out the differences ASAP I guess but  looks a lot like a hissy fit at this stage and no wonder share price dived.  It will take some time to recover market confidence - ponderimg way ahead for now.

Company ASX announcement - Raiz Invest Limited (Raiz or the Company) announces that following the close of trading yesterday, the Company received a request from BBH-GL Nominees Pty Ltd (a company associated with Managing Director/CEO George Lucas), being a shareholder holding greater than 5% of the shares in the Company, for the Company to call a meeting of shareholders pursuant to s249D of the Corporations Act (Cth) 2001.