Tracking the 2019 end of season AGM deluge

Last day laggard AGMs broken up by city

WA 120

4DS Memory: Perth
Acacia Coal: Perth
A-cap Energy: Perth
Alta Zinc: Perth
Alto Metals: Perth
Ansila Energy: Perth
Artemis Resources: Perth
Aspire Mining: Perth
Athena Resources: Perth
Auscann: Perth
Aust Sino: Perth
Avenira: Perth
Austar Gold: Perth
AVZ Minerals: Perth
Azure Health: Perth
BPH Energy: Perth
Blaze International: Perth
Blina Minerals: Perth
Caeneus Resources: Perth
Carnaby Resources: Perth
Castillo Copper: Perth
Cervantes: Perth, 2pm
CFoam: Perth, 1pm
ClearVue Tech: Perth
Corazon Mining: 10am Perth
Corizon Ltd: Perth 11.30am
Davenport Resources: Perth
Dynasty Resources: Perth
Echo Resources: Perth 3pm
Emerge Gaming: Perth, 1pm
Emu NL: Perth, 5pm
Enterprise Metals: Perth
Neuroscientific Biopharmaceuticals: Perth 10am
European Cobalt: Perth 10am
Family Insights: Perth
Fraser Range Metals: Perth
Free Range Metals: Perth
Foam Ltd: Perth
Galan Lithium: Perth
Golden Deeps: Perth
Genesis Metals: Perth
Golden State Mining: Perth, 10am Celtic Club
Grandbridge Ltd: Perth, 10am
Great Western Exploration: Perth 10am
Hampton Hill Mining: Perth
Hawkley Oil & Gas: Perth (Delayed until Dec 18)
Hawkstone Mining: Perth
Indiana Resources: Perth
Jindalee Resources: Perth
Kalia Ltd: Perth
Lithium Australia: Perth 9.30am
Logistics Ltd: Perth
Lustrum Minerals: Perth
Mader Group: Perth
Magmatic Resources: Perth 8.30am
Marindi Metals: Perth
Matador Mining: Perth
MCS Security: Perth
Metals Australia: Perth
MGC Pharmaceuticals: Perth 2pm
Mount Ridley Mines: Perth
MSM Corp: Perth
Neuro Scientific: Perth
Nex Metals: Perth
New World Cobalt: Perth
Norwest Energy: Perth
NTM Gold: Perth
Nzuri Copper: Perth
Odin Metals: Perth
OpenDNA: Perth, 2pm
Pacific Bauxite: Perth
Pacifico Minerals: Perth
Pacific Energy: Perth
Pearl Global: Perth
Peninsular Mines: Perth
Pensana Minerals: Perth
Peppermint Innovation: Perth 1pm
Perseus Mining: Perth
Podium Minerals: Perth
Prodigy Gold: Perth
Prospect Resources: Perth
Rafaella Resources: Perth, 9am
Raiden Resources: Perth
Redstone Resources: Perth 2.30pm
Red Hill Iron: Perth
Reffind Ltd: Perth
Rentcomau: Perth
Rumble Resources: Perth
Sabre Resources: Perth
Sagon Resources: Perth
Samson Oil & Gas: Perth, 11am
Scorpion Minerals: Perth
Scout Security: Perth
Skin Elements: Perth 11am
Stavely Resources: Perth
Stone Resources: Perth, 3pm
Story-I: Perth, 10am
Sun Resources: Perth
Syngas: Perth
Tamaska Oil & Gas: Perth
Tanga Resources: Perth
Technology Metals Australia: Perth
The Agency: Perth 12.30pm
TNT Mines: Perth
Toro Energy: Perth, 3.45pm
Traka Resources: Perth
Tyranna Resources: Perth
Ultima United: Perth
Valmec: Perth
Valor Resources: Perth
Vanadium Resources: Perth 10am
VDM: Perth
Venturex Minerals: Perth
Vonex: Perth
Weststar Industrial: Perth 9am
XCD Energy: Perth
Zenith Energy: Perth
Ziptel: Perth

NSW (53)

Abundant Produce: Sydney
AF Legal: Sydney, 11am
Alt Resources: Sydney
Aguia Resources: Sydney
Aspen: Sydney
Aurelia Metals: Sydney
Ausmon Resources: Sydney
Australian Leaders Fund: Sydney
Australian Masters Fund: Sydney
Auto Sports Group: Sydney
Bir Financial: Sydney
Bubs Australia: Sydney
Byron Energy: Sydney, 11am
CardieX: Sydney 9.30am
Cassius Mining: Sydney
Digital Wine Ventures: Sydney
Donaco International: Sydney 2.30pm
Field Solutions: Sydney
Fremont Petroleum: Sydney
Gas2Grid: Sydney
Highpeak Royalties: Sydney
Hi-Tech Group: Sydney 4pm
Integrated Green Energy Solutions: Sydney
Inventis: Sydney
ISA Group: Sydney
Jayride Group: Sydney
Kelly Partners Group Holdings: Sydney
Macquarie Telecom: Sydney
Malachite Resources: Sydney
Millenium Ltd: Sydney
Mont Royal Resources: Sydney
Morphic Ethical Equities: Sydney
Northern Mining: Sydney
Nucoal: Sydney
Oliver's: Sydney
Property Connect: Sydney
Real Energy: Sydney
Reffind Ltd: Sydney
Resources and Energy Group: Sydney, 11am
R3D Global: Sydney, 3pm
South Pacific Resources: Sydney
Sportshero: Sydney, 3pm
Stemcell United: Sydney
Stemify: Sydney
Sun Resources: Perth
Total Brain: Sydney
TPC Consolidated: Sydney
TZ Ltd: Sydney
Vango Mining: Sydney
Verilumna: Sydney
Xref Ltd: Sydney
Zip Co: Sydney
Zyber Holdings: Sydney

Victoria (38)

Accent Resources: Melbourne
Apply Direct: Melbourne
Atimos: Melbourne
Australian Dairy Nutritionals: Melbourne
Benitic Biopharma: Melbourne
Byron Energy: Melbourne
CCP Technologies: Melbourne
Cohiba Minerals: Melbourne
Dart Mining: Melb
Ellerston Asian Investment: Melbourne, 2pm
Ellerston Global Investment: Melbourne 4pm
Cann Group: Melbourne
Faster Enterprises: Melbourne
Freehill Mining: Melbourne
Gale Pacific: Melbourne
Golden Mile Resources: Melbourne
Hotel Property Investments: Melbourne, 10.30am Quay West
Karoon Energy: Melbourne, 10am RACV
Keybridge Capital: Melbourne 11am
Longtable Group: Melbourne, 9.30am
Nagambie Resources: Melbourne
Nova Minerals: Melbourne
Premier Investments: Melbourne 10.30am
Prime Financial: Melbourne
Pure Alumina: Melbourne
Rectifier Technologies: Melbourne
RhinoMed: Melbourne (MCG)
Rotogrow: Melbourne
Sensenetworks: Melbourne
Shiya Gold: Melbourne
Tesserent: Melbourne
Titomic: Melbourne
Ultracharge Ltd: Melbourne 2.30pm
Victory Offices: Melbourne
VIP Gloves: Melbourne
VPCL: Melbourne
Wellness & Beauty Solutions: Melbourne
West Wits Mining: Melbourne

QUEENSLAND (11)

A-Pac Energy: Brisbane
Cannindah Resources: Brisbane 11am
Eumundi Group: Queensland
Henry Morgan: Brisbane 2.30pm
Icollege: Brisbane
Laneway Resources: Brisbane, 11am
Mayur Resources: Brisbane
Metallica Minerals: Brisbane
QEM: Surfers Paradise
Retail Food Group: RACV Gold Coast
Sayona Mining: Brisbane

SOUTH AUSTRALIA (5)

Clean Seas: Adelaide
Magnetite Mines: Adelaide
Mayur Resources: Adelaide
MGM Wireless: Adelaide
Micro-X: Adelaide

ACT (1)

X-tek: Canberra

163 AGMs were held on Thursday November 28 - here is a full listed ranked according to the timing of the AGM results release to the ASX

Friday morning release of voting results from a Thursday AGM (5)

Bounty All & Gas
Matsa Resources
Leaf Resources
Sentric
Navigator Global
Thor Mining

After 7pm on Thursday (10)

Anglo Australian Resources
Bardoc Gold
GR Engineering
JV Global
Lotus Resources
Norwood
Okapi Resources
Pancontinental Oil & Gas
Pointerra
Vysarn

6-7pm (8)

Ardea Resources
Gold Mountain
Mt Burgess Mining
PLC Financial Solutions
Over The Wire
Orminex
Orion Minerals
Lithium Consolidated

5-6pm (15)

Citigold
Smart Marine Systems
NTM Gold
IXUP
Middle Island Resources
Kollakorn
Hipo Resources
Metminco
Siburan Resources
Core Lithium
Vimy Resources
Jacka Resources
Acrux
Nukeara
Kasbah Resources

4-5pm (17)

Cann Global
Rivers Gold
AJ Lucas
Enhance Oil
Ellex
Galileo Mining
Strandlane Res
Mediland Pharm
Peako
Renu Energy
Octanex
Accelerate Res
Tempo Res
Enegex
Livehire
Resonance Health
tikforce

3-4pm (25)

Krakatoa
Nuheara
Duketon Mining
Kairos Minerals
Shree Minerals
Seafarms
Ambertech
Auteco Mining
Pental
McGrath
Registry Direct
MMJ
Cromwell
Yanda Resources
Mohn Resources
Monash IVF
Southern Hemisphere Mining
Bisalloy
Marenica Energy
Bulletin Resources
Fleetwood
Strike Resources
Fleetwood
Ironbark Zinc
Minotaur Exploration

2-3pm (27)

Threat Protect
Sagon Resources
Duketon Mining
Queste Communications
Poseidon Nickel
Parkd
Fiji Kava
Freedom Insurance
Ausmex Mining
Redbank Copper
Caprice Resources
Dimerix
Global Petroleum
Blackham Resources
Zinc of Ireland
Sundance Resources
Mustera Property
Kalina
King River Resources
Genesis Resources
Fletcher Building
Troy Resources
Canterbury Resources
European Lithium
Coppermoly
Strike Resources
Genetic Technologies

1-2pm (22)

Zelira Therapies
Change
Dreadnought Resources
Impel US
Food Revolution Group
Red Mountain Mining
Proteomics International
Twenty Seven Group
Site
Beston Global Food
Oakdale Resources
Ragnor Metals
Auctus Alternative Investments
The Go2 People
Smiles Inclusive
Crater Gold Mining
Alliance Resources
Bid Energy
Mandrake Resources
Evolution Mining
Big Star Generation
Galilee Energy

12-1pm (15)

IOOF
Energy World
Optiscan
PS+C
Scientific Developments
Resource Developments
Energy Technologies
Analytica
Perpetual Resources
Dorsavi
Australian Papyrus
ResApp Health
Alice Queen
Nickel Mines
DXN

11am-12 (11)

Australian Pacific Coal
InpayTech
Automic
Contrarian Value Fund
Metgasco
Challenge Exploration
Enox Group
Tomizone
Accent Group
Reverse Corp
ASF Group

Before 11am (7)

Allegiance CoalMRG
Apiam Animal Health
Beyond International
Pureprofile
Powerwrap
Arowana

ends

Ran this piece in The Eureka Report on November 12 ahead of the last day

Why do so many companies delay their AGM until the last possible day?

Back in September, we brought you a special edition focusing on all the 348 companies which waited until the last day possible, Friday, August 30, to release their full-year results. Unsurprisingly, 275 of them were losses.

Throw in the 65 companies which were officially late and reported on the following Monday and that was a total of 413 – an extraordinary 18.4 per cent of all listed companies – which were either late or last day laggards.

It shouldn't be a similar story with AGMs because companies have five months to hold their AGM after year-end and 3 months after the end of August deadline to produce their annual results. There are no auditing processes to be completed for an AGM so why can't every listed company get everything organised and completed within 5 months. And if the ASX itself can manage to hold its AGM on September 24, why is it that Friday, November 29, will easily be the busiest day of the year for AGMs with close to 200 of them? I've already listed more than 100 of them here, and, as we've come to expect, the majority are Perth-based resources companies.

However, there are some bigger east coast out-fits that shouldn't be associating themselves with the last day deluge.

Let's name a few of them: Prime Financial, Ellerston Global Investment, Longtable, Zip Co, Karoon Gas, Premier Investments, Retail Food Group and Hotel Property Investments.

We suspect most of the circa 200 companies that opt for the last day possible are doing it deliberately to avoid scrutiny, which is all the more reason to name and shame!

Have a scroll through this list and if you own any of these companies, why not drop them a line suggesting they get themselves better organised for next year.

Mondays and Fridays are the two quietest days for AGMs so we're also going to track how many meetings are held on the second last day, Thursday, November 28, to see if it peaks over a number of days towards the end of the season or whether companies just deliberately choose the very last day.

There was also this piece for The Intelligent Investor after the 228 AGMs in one day which ran on December 3, 2019

Revealed: 228 public company AGMs held last Friday with Perth dominating as usual

As predicted in this November 12 column, last Friday, November 29, did indeed prove to be the busiest day of the year for AGMs and our friends in Western Australia were responsible for more than half of them.

After a marathon session scouring the ASX announcements, we counted 228 AGMs held on Friday. However, unlike the last day of the results season, the second last day was also busy with 163 public company AGMs held across the country last Thursday. Go here to see the full list of 391 AGMs held across those two days.

So which cities hosted the most meeting on this last day deluge? Unsurprisingly, Perth had a majority with 120 or some 52.6 per cent of the last day meetings, whereas only five meetings were held in Adelaide. The West really does have it over South Australia when it comes to hosting Australia's mining industry.

There were 53 meetings in Sydney but only 38 in Melbourne, which I like to think has better governance overall than Sydney. Queensland only hosted 11 and really should have a more vibrant public company headquarter base.
If you're suspicious that small caps are trying to hide poor practices in this last day deluge, then let's see what we can turn up. There were indeed a number of quirky highlights in some of the voting results announced to the ASX at the back end of last week, such as the following:

Clean Seas Sustainable Seafood: Suffered a second strike on its remuneration report but the most noteworthy protest was the mammoth 80.5 per cent vote against the proposal to increase the placement capacity by an additional 10 per cent to up to 25 per cent over the next 12 months. If only shareholders would reject these placement resolutions more often as part of a push for greater pro-rata capital raisings which treat all shareholders equally.

Freedom Insurance: After suffering a torrid time at the Hayne Royal Commission, the company's AGM on Thursday delivered big protests. However, most noteworthy was the defeated resolution to delist the business which needed 75 per cent support but fell just short. Similarly, the rem report suffered a strike with 27.86 per cent against but the voting results announcement declared this to be “carried”, when it wasn't.

Magnetite Mines: The Adelaide-based company suffered a rare defeated resolution which was as tight as it gets. A proposed options issue to director Peter Schubert went down with 50.09 per cent of the voted stock rejecting the proposal.

Oliver's: The struggling organic restaurant chain served up something we've never seen before – an AGM voting result where there were literally no proxy votes cast for or against any resolution. All the action must have happened at the meeting in the poll with 3 resolutions comfortably passing.

Tyranna Resources: Check out this AGM results announcement, which is a good lesson in the need to have a poll on all items and then include percentage figures in the announcements. Two resolutions requiring a supermajority of 75 per cent (placement capacity and constitutional amendment) were defeated in polls but then they didn't bother to call a poll on the rem report which was “passed on a show of hands” when the proxies were 32 per cent against.

CCP Technologies: A director called “Mr Anoosh” managed a come from behind victory trailing roughly 65 per cent to 35 per cent on the proxies before being re-elected in the poll with 71.58 per cent in favour as floor votes saved the day. More shareholders should do this. Listen to the AGM debate and then vote your stock at the meeting, rather than voting by proxy more than 48 hours before the meeting.

Blina Minerals: Two directors were turfed off the board with one pulling out, as often happens in the face of overwhelming proxies against, and the other soldiering on to be formally defeated with 536.7 million votes in favour and 1.89 billion against. There are 5.45 billion Blina shares on issue, like so many other small Perth-based explorers which have repeated capital raisings at lower and lower prices to keep the doors open.

PSC: Went to the trouble of conducting a poll on the rem report which incurred a first strike with 27.77 per cent against, so should have gone with the poll on all other items too given there were meaningful protests across the board. The show of hands is anachronistic and arguably should be banned but no AGM should have some polls and some show of hands ballots. Either poll the lot or do a show of hands on everything if there is nothing contentious to deal with and it will save you a few bob.

Matsa Resources: The options issue to executive chairman Paul Poli was trailing on the proxies with 22 million in favour and 25.6 million against but was declared carried on a show of hands, like all the other resolutions. Dear, oh dear.

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