When 100 signatures gathered for S249P statement


March 5, 2010

If 100 shareholders sign up, a company must distribute up to 1000 words on an issue to all shareholders in an Australian public company under s249P of the Corporations Act.

ANZ: employee Joy Buckland had a s249p statement from her colleagues at the Finance Sector Union when she ran for the board in 2003.

Coles Myer: Australian Shareholders Association had a 249p statement in 2002 during the battles to eject Solomon Lew from the board.

Commonwealth Bank:
Finance Sector Union resolution on restructuring in 2004 supported by 11.8% of shares voted despite s249p back up which was petitioned by 900 shareholders.

David Jones: ASA resolution in 2002 calling for the chairman not to be re-elected with s249p statement.

Foster's
: s249p statement from ASA in 2004 after botched disposal of ALH and general poor performance.

Lend Lease
: ASA 249p statement in 2001 complaining about poor performance.

National Australia Bank:
ASA resolution in 2004 calling for Geoff Tomlinson to be sacked with s249p statement delivered 39.7% support as shareholders vented their anger after the debacles such as Homeside and the foreign currency losses.

Orica
: ASA 249p in 2001 calling for board cull after years of under-performance until Malcolm Broomhead shook the place up.

Pacific Dunlop
: ASA 249p in 2000 after years of under-performance.

Paperlinx: ASA s249p statement at 2005 AGM about poor performance which sparked a stinging rebuke from chairman David Meiklejohn who claimed it was misleading.

Telstra
: ASA s249p statement in 2001.

National Australia Bank: rejected resolution in 2006 from the FSU raising concerns about risks to reputation arising out of Global Outsourcing project but was supported by a s249p statement which did go out.

St George
: the FSU ran a s249p statement in 2008 for the St George EGM calling for opposition to the constitutional amendment and scheme of arrangement. In a matter of days they had received over 600 signatures from shareholders supporting the 249.

Telstra: the ACTU ran a s249p statement at the 2008 AGM raising concerns about shareholder risks associated with the National Broadband Network. Read media release.