On October 24, 2017, BPS Technology Limited updated shareholders on the progress of the Extraordinary General Meeting requisitioned under section 249F of the Corporations Act by Alceon Liquid Strategies Pty Ltd (Alceon) and LHC Capital Partners Pty Ltd (LHC). Further, the Company reported that independent corporate governance advisory firm, Institutional Shareholder Services Inc. (ISS) has recommended a vote against all resolutions by Alceon and LHC.