Companies which failed to deliver full online AGM participation after COVID

Ainsworth Gaming Technology (AGI): 10am physical meeting at the Bankstown Sports Club - see notice of meeting. Market cap $405m in May 2024.

Alpha HPA (A4N): joined the placement only shame file with a $40 million placement at 73c in November 2023 with no follow up SPP. Market cap was $760m by February 2024 when the stock was at 91c. Failed to offer a hybrid AGM in November 2023.

Altium: November 16, 2023: 1.30pm physical meeting in Sydney after 3 hour investor show case - see notice of meeting.

ARB: October 19, 2023: 9.30am start at RACV Club in Melbourne but only a one way webcast. See notice of meeting. The controlling Brown family are very keen on avoiding costs.

Argo: October 23, 2023: 10am physical meeting in Adelaide with shareholders offered a one way webcast - see notice of meeting. The annual report says they 95,344 shareholders.

Argosy Minerals (AGY): 1.30pm WST. Physical meeting in Perth. See notice of meeting. Market cap crashed from $500m to $154m in Jan 2024 with stock at 8c. Accumulated losses $69m and claims net equity of $94m.

Arteris Technologies (AVR): May 29 2024, 10am physical meeting with a live webcast but no online participation. See notice of meeting. Market cap $294m in Feb 24.

AUB Group: November 2, 2023: going with a physical only AGM in Sydney on November 2. They want their customers to engage online but won't treat their shareholders the same. See notice of meeting.

Audinate: October 24, 2023: physical meeting at Sydney Rydges despite having a market cap of more than $1 billion and recently completing a $70 million capital raising which included scaling back SPP applicants. See notice of meeting.

Australian Strategic Minerals: Nov 22, 2023: physical meeting in Perth starting at 10am WST. See notice of meeting. Market cap is $234m.

Auto Sports Group (ASG): November 24, 2023: 11am physical meeting at HQ which is 555 Parramatta Rd in Sydney. See notice of meeting. Market cap is $522m.

Azure (AZS): the Perth-based lithium company is being bought by Gina Rinehart and Chilean giant SQM in a joint $1.7 billion cash offer priced at $3.70 a share. The 292 page scheme book landed on March 4 and the scheme meeting is scheduled for April 8 2024 at the Celtic Club in Perth. A pathetic effort running it as a physical AGM.

Bank of Queensland: Dec 5 2023: physical meeting in Brisbane starting at 10am - see notice of meeting.

BCI Minerals: Nov 22, 2023: a physical meeting in Perth starting at 3pm WST. See notice of meeting. Typical of a business controlled by Kerry Stokes.

Beston Global Foods (BFG): November 24, 2023: physical meeting started at 10.30am Adelaide time. Should have been a hybrid given they've lost $100m plus. See notice of meeting.

Brickworks (BKW): Nov 23, 2023: physical meeting in Sydney at The Establishment - see notice of meeting.

BSA: October 26, 2023: physical meeting in Sydney, although market cap was only $50m in March 2024.

Bubs Australia: Nov 14, 2023: 11am physical meeting at RACV Club in Melbourne . Should be a hybrid given all the controversies of recent times.

CBA: October 23, 2023: not a true hybrid as can't vote online but can ask online questions up to 532 characters - see notice of meeting. The previous year you couldn't even do that at the physical only 2022 AGM.

Centaurus Metals (CTM): 10.30am physical meeting in Perth on May 28, 2024. See notice of meeting. Market cap $208m in early May 2024.


Charter Hall: November 16, 2023: 2.30pm physical meeting at level 20, 1 Martin Place in Sydney - see notice of meeting.

Clime Capital (CAM): November 24, 2023: physical meeting in Sydney - see notice of meeting. Market cap was circa $115m at the time.

Cooper Energy: November 9, 2023: market cap of around $330m and held a physical AGM at 10.30am in Adelaide - see notice of meeting.

Corporate Travel Management : October 25, 2023: 11am physical meeting in Brisbane was controversial given UK boat issue - see notice of meeting.

CVC Ltd: October 24, 2023: noon at Corrs in Melbourne. Market cap $280m.

De Grey Mining: November 9, 2023: gold miner with a market cap of $2.3 billion yet still they insist on having a physical AGM in Perth which east coast shareholders can't attend. See notice of meeting.

Deep Yellow (DYL): physical EGM in Perth on April 30, 2024 in the board room of the Country Women's Association to approve capital raisings. See notice of meeting. Should be a hybrid given it had 16,000 holders and a market cap of $1.25b at the time.

Dicker Data, May 2023: after holding a hybrid AGM in 2022 where these 11 written questions were lobbed, controlling founder and chair Dave Dicker reverted to this physical only AGM in 2023.

Downer: Nov 22, 2023: decided not to offer a hybrid AGM on November 22. A one way webcast from Viostream just doesn't cut it when even small shareholders are allowing shareholders to vote and ask live questions online from anywhere. The annual report says it has 25,012 shareholders.

Duxton Water (D20) : 2pm physical meeting in North Adelaide on May 29, 2024 - see notice of meeting. Market cap of $226m in early May 2024.

Electro Optic Systems (EOS): May 21, 2024 10am physical meeting at Minters in Canberra. See notice of meeting. Just completed $30m+ capital raise, lifting market cap to $320m.

Euroz Hartleys: November 17, 2023 physical meeting in Perth. Listed stockbroker with $150m market cap - see notice of meeting.

Fortescue: November 21, 2023: 10am physical AGM in Perth - see notice of meeting.

Frontier Energy (FRE): Friday, May 24, 2024 at 9am in Perth. See notice of meeting. Market cap $163m in April 2024.

Gold Road Resources (GOR): Has a market cap above $1 billion and held its May 2023 AGM as a physical affair in Perth. Have emailed requesting a change for 2024.

Graincorp (GNC): February 14, 2024: 10am physical meeting at the MCA in Sydney. See notice of meeting.

Grange Resources (GRR): May 14, 2024: physical meeting in Burnie, Tasmania, starting at 10am. See notice of meeting. Market cap $509m. Is on the shame file of major companies banning online participation.

Harvey Norman: November 29, 2023: physical only AGM at Sydney's Olympic Park at 11am. You can listen in by telephone. See ASX notice.

Image Resources: May 28, 2024, 10am physical meeting in Perth with a live webcast but no online participation. Market cap $90m in early May 2024. See notice of meeting.

Ingenia: November 17, 2023: Sydney physical meeting at The Rocks - see notice of meeting.

IVE Group: Nov 20, 2023: the printing giant seems to be doing well since buying the assets of the old PMP, its chief rival, from creditors. Market cap is now $315m and this is a very upbeat AGM address from the exec chair. A shame it is a physical only meeting in Sydney.

Insignia: Nov 23, 2023: the old IOOF is holding a 9.30am physical meeting at Grand Hyatt in Melbourne - see notice of meeting.

IPD Group (IPG): Nov 23, 2023: November physical meeting when they are now capped at almost $400 million after a recent acquisition.

Jervois (JRV): 9.30am physical meeting in Melbourne on May 3, 2024 - see notice of meeting. Curious to understand how and why Australian Super has lost $100m+ in this outfit.

Johns Lyng (JLG): Nov 23, 2023: 10.30am physical meeting at RACV Melbourne - see notice of meeting.

Judo Holdings: October 25, 2023: physical meeting in Melbourne with a promise to publish an archive of the webcast but no ability to ask questions or vote online - see notice of meeting.

Kelsian October 24, 2023: physical only meeting in Adelaide for travel company with $1.5 billion market cap - see notice of meeting.

Latin Resources (LRC): 11.30am Perth time on May 30 2024 for a physical meeting which is disappointing for a company capitalised at $630 million. See notice of meeting.

Liontown (LTR): November 30, 2023: Physical meeting, 2pm Perth time. See notice of meeting.

Lovissa (LOV): after lodging these 14 questions at the 2021 AGM, the majority of which were ignored, they've gone for physical meetings ever since. With a May 2024 market cap of $3.5 billion, this is just not good enough.

Magellan Financial Group: Nov 8, 2023: once again going with a physical AGM in Sydney. There are tens of thousands of angry shareholders all over Australia and they are being told to fly in if they want to participate on the day. See notice of meeting. The annual report says it has 47,025 shareholders.

Netwealth: Nov 22, 2023: 2.30pm at Flinders St head office with a livestream via Link but no online questions or voting - see notice of meeting.

Nickel Industries (NIC): 11am physical meeting in Sydney on May 31, 2024 at Level 5, 1 Margaret St. See notice of meeting. Market cap was around $4 billion in May. They are facing a second strike and have 17,000 retail shareholders.

Pantoro Ltd (PNR): May 29, 2024 1pm physical EGM meeting in Perth at the CWA to approve a pay rise for the directors and an incentive grant for the CEO. See notice of meeting. Market cap $463m in early May 2024.

Perseus Mining: November 21, 2023: $2.27b market cap and still doing a physical only meeting in Perth at 4pm their time. See notice of meeting.

Propel Funeral Parlours: Nov 23, 2023: physical AGM in Sydney at 9.30am - see notice of meeting. With a market cap of $522 million and corporate activity in the wind, this should be a hybrid.

PYC Therapeutics (PYC): announced a non-under-written 1-for-4 at 8c to raise a maximum of $74.6m. Chair Alan Tribe will take up his full $24.6m entitlement but there are no overs for retail shareholders. There are around 3,200 retail shareholders. Went into the raising with 3.7 billion shares. Time for a 10-for-1 consolidation, perhaps? Market cap $317m based on 8c going into the raising. Claims to only have net equity of $30m in Feb 2024 accounts after accumulating losses of $133.2m. The market is clearly valuing the potential of its drug developments. Held a physical only AGM in Perth on Nov 24, 2023.

QV Equities: October 25, 2023: physical meeting in Sydney. Market cap $200m and Anton Tagliaferro is up for election.

Ramsay Healthcare: November 28, 2023: Sydney physical meeting with a webcast but no interaction or live online voting - see notice of meeting.

Reliance Worldwide: October 26, 2023: physical only meeting in Brisbane- see notice of meeting.

Resolute Mining (RSG): 2pm physical meeting in Perth on May 23, 2024 even though its market cap was $900 million in early May. See notice of meeting.

Select Harvest (SHV): February 29, 2024: 11am physical meeting at Docklands in Melbourne with no online participation - see notice of meeting.

Seven West Media: November 9, 2023: Kerry Stokes is seeking re-election. 11am physical only meeting in Sydney. See notice of meeting.

Shine Justice: October 26, 2023: noon start in Brisbane.

Smart Group (SIQ): Physical AGM at the Wesley Centre in Sydney at 11am on May 8, 2024. See notice of meeting.

Soul Pattinson December 8, 2023: physical meeting at The Establishment in Sydney. See notice of meeting.

Spartan Resources (SPR): the Perth-based gold miner and explorer (known as Gascoyne Resources until 2023) launched an $80 million raising in April 2024, comprising a $47 million placement and a 1-for-17 non-renounceable to raise $33 million. The company was capitalised at $650m in April 2024 so very disappointed that it ran a physical AGM at the Celtic Club in Perth on November 23, 2023.

TPG: failed to deliver online component in 2023 and 2024 after running a fully online meeting in 2022. See text of 8 questions. In 2024 it was a physical meeting at Wesley Centre in Sydney. See notice of meeting.

West African Resources (WAF): market cap just hit $1 billion. See notice of meeting for AGM in Subiaco at 9.30am on May 10 .

Whitehaven Coal: October 26, 2023: 11am physical meeting at The Mint in Sydney. See notice of meeting. The annual report says they 29,030 shareholders and after just agreeing to pay $5 billion for 2 BHP coal mines, this should have been a hybrid.

Woodside Energy: reverted to a physical AGM in 2021 but has been holding hybrids ever since.

Worley: October 20, 2023: it seems chair John Grill is just another billionaire dodging scrutiny after deciding to withdraw the online component of the 2023 AGM. See notice of meeting for 10am physical AGM in Sydney. The annual report says they 24,148 shareholders. The company's website doesn't even provide an archive of past AGM webcasts.

Yancoal (YAL): 11am physical meeting in Sydney on May 30, 2024 - see notice of meeting. Live webcast being offered here via Computershare but no online participation, sadly. Market cap $7.35 billion.

Copyright © 2024 The Mayne Report. All rights reserved

• share
  Share
  • 
    Facebook
  • 
    Twitter
  • email
    Email
  • print
    Print
  • link
    Copy Link
  • cancel
    Cancel