Keybridge Capital (ASX:KBC) cautioned shareholders that its board does not support the resolutions set out in a notice from WAM Active (ASX:WAA) seeking to call a Keybridge general meeting on Feb. 10 and changed the time, the venue, the proxy forms for the meeting, according to a Monday Australian bourse filing.

The WAM Active notice proposes resolutions to remove all the current Keybridge board and to elect four new directors, the filing said.

Keybridge said it had "serious concerns" that, while WAM Active holds over 5% of Keybridge's ordinary shares and is entitled to call a general meeting, it has not properly exercised this right.

The voting process proposed by WAM Active also makes it difficult for shareholders to vote, and it has proposed a proxy delivery process that does not comply with Keybridge's constitution, the filing alleged.

It further alleged that the meeting was called by WAM Active at the same date and time when Keybridge and three of its directors were required to be in court, at a different location, to defend another action brought by WAM Active.

Keybridge said it considers that WAM Active and its associated entities, including WAM International, as well as its nominated director Sulieman Ravel have each breached the Corporations Act.

WAM Active did not immediately respond to a request for comment from MT Newswires.