Lists

When 100 signatures gathered for S249P statement


August 8, 2020

If 100 shareholders sign up, a company must put up a shareholder resolution or distribute up to 1000 words on an issue to all shareholders in an Australian public company under s249 of the Corporations Act. Here is a list of examples of the 100 signatures being successfully gathered.

AGL, 2020: the ACCR has filed a shareholder resolution calling for AGL to close its coal-fired power stations earlier than currently planned. See media release.

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

BHP, 2017: 9% support for an ACCR resolution calling for BHP to review its public policy advocacy and industry association memberships. See results.

BHP, 2019: 29.58% support for an ACCR resolution calling for BHP to suspend its membership of industry associations campaigning against climate reform. See media release.

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

Coles, 2019: ACCR, industry fund LUCRF, a US fund Mercy and a Catholic group from Columbia together fired a resolution around ethical sourcing of food which received 12.79% support including from the industry fund umbrella group IFM. See ACCR press release.

Commonwealth Bank, 2004:
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, 2002: ASA resolution in 2002 calling for the chairman not to be re-elected with s249p statement.

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

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

National Australia Bank, 2004:
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.

NAB, 2019:
3 resolutions in total. The Market Forces constitutional amendment for opinion based resolutions got 5.84%, its transition plan call got 12.9% and ACCR's opposition to climate lobbying received 15.07% support. See voting results.

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

Origin Energy, 2018:
ACCR filed 3 resolutions and received 46% for its anti-lobbying resolution and 11.83% support for stronger emissions targets. Also 7.73% support for resolution opposing NT fracking and promoting first nations people self-determination. See media release.

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

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

Qantas, 2019: 23.56% support for ACCR's resolution calling on Qantas to end its relationship with DFAT deporting refugees. See media release.

Rio Tinto, 2020: ACCR filed and then withdrew a shareholder resolution on the funding of mining industry associations after Rio made some commitments about reviewing the memberships and disclosure.

Santos, 2020: ACCR filed two resolutions with the Paris targets one supported by 43.4% of voted stock and another on climate related lobbying attracting 46.35%. See media release.

Telstra, 2001
: ASA s249p statement in 2001.

National Australia Bank, 2006: 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, 2008
: the FSU ran a s249p statement in 2008 for the St George EGM calling for opposition to the constitutional amendment and scheme of arrangement to merge with Westpac. In a matter of days they had received over 600 signatures from shareholders supporting the S249P but it never went anywhere as shareholders overwhelmingly approved the takeover.

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

Woodside, 2020: ACCR filed 3 resolutions achieving a historic majority of 50.16% for its resolution on Paris targets and 42.66% for a resolution on climate related lobbying. See media release.