Sharing the questions with Crazy Jack at Boral in 2000
January 11, 2008
This article by Wade O'Leary appeared in The Daily Telegraph's Bottom of the Harbour column on November 14, 2000 after the Boral AGM.
Harbour's hardhat-wearing spy confirmed the Boral AGM at the Wentworth Hotel yesterday was a lively affair, to say the least. Upstart activist Stephen Mayne put thoughtful questions but (hopefully) received a lesson in showmanship from top rabble-rouser Jack Tilburn.
Displaying his usual disregard for volume control or futility, Mr Tilburn protested the 750,000 options granted to managing director Rowdy Roddy Pearse.
The mood of the floor prompted chairman Dr Ken Moss to impose an impromptu poll on the matter, the result of which will be announced today, but Harbour understands the issue is still a foregone conclusion.
But Mr Tilburn outdid himself when he gestured at the row of unsmiling directors and likened them to ``Easter Island men, with apologies to the lady at the end''.
Priceless.
There was also a parade of grey-haired shareholders expressing their dissatisfaction with the company's direction. Boral shareholders were paid fully-franked dividends until the demerger from Origin Energy but now more of their business is done overseas.
That may be good for the national balance of trade but it means shareholders earn less franking credits, something that does not please the blue-rinse set one bit.
That said, the post-meeting spread may have soothed hurt feelings.
Hungry shareholders, used to muffins and water, were treated to such delights as chicken and beef pies, sausage rolls, curry puffs, sweet tarts and sandwiches.
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