FOUR QUESTIONS SUBMITTED TO INVESTOR RELATIONS BEFORE
EIGHT QUESTIONS SUBMITTED DURING THE MEETING
- Could one of the State Grid nominees on the board please
comment about the rising tensions between Australia and China and whether
this could lead to State Grid selling its 20% stake in Ausgrid.
- Could Peter Mason please comment on the likely timing for
chair succession and could one of the Singapore Power and State Grid
nominees please comment on whether they are committed to the model of
retaining an independent chair of Ausgrid.
- What has been the financial impact on Ausnet so far
from the recent storms in Gippsland and the Dandenongs and what is the
timing on when we are likely to recover these costs over time through
regulator approved price rises.
- Old time
power industry watchers have commented that the extended power outages in
the Dandenongs “wouldn't have happened under the SECV”. Given that SECV
employment peaked at about 24,000 in the 1980s and the same assets are
managed today with less than 10,000 employees, were we caught short in
terms of surge workforce capacity because of too many job cuts in Victoria's
now privately owned electricity industry? Has there ever been a time
before when crews from NSW had to be called in to assist with reconnecting
power to homes?
you for providing full archives of the webcast of the past two AGMs on the
Ausnet website. Could you please go one better in 2021 by publishing a full
transcript of today's proceedings, similar to the best practice adopted by the
likes of Woolworths and Transurban in recent years.
Infrastructure lodged a slide with the ASX this morning quoting from a 2020 AER
Benchmarking study which measured Multilateral Total Factor Productivity (MTFP)
Rankings. This slide from a presentation given to the ASA ranked Ausnet 11th
out of 13 amongst Distribution providers and 5th
of 5 amongst
Transmission providers. Why are we ranked so lowly and what does this measure
and Ontorio Teachers have today offered $2.70 a share to buy our rival Spark
Infrastructure, valuing the enterprise at almost $6 billion. Have we yet, or
are we going to, retain any advisers to help navigate through the current surge
in takeover activity around infrastructure assets and what does the Spark bid
mean for us?
you for disclosing the proxy votes ahead of the meeting commencing with the
slide pack of the formal addresses lodged with the ASX at 1.29pm. The only
material protest vote was 255.8 million shares against the re-election of
Singapore Power nominee Alan Chan Heng Loon. Did any of the proxy advisers
recommend against any of the resolutions today and what insight do you have
into the 17.3% vote against Mr Loon by the independent shareholders who voted
done to all concerned for announcing an orderly chair succession process
complete with a commitment to retain an independent chair. Thanks to Mr Mason
for his leadership and service in stabilising Ausnet after the previous board
ructions. Will a head hunting firm be involved in the selection of the next
chair or is it more likely that the next chair is one of the existing
independent directors. Does Mr Mason agreed that it would be preferable for the
next chair to be based in Melbourne, given that all of our assets are in
one of the two State Grid directors please comment on the value that they feel
State Grid brings to Ausnet. Would State Grid require FIRB or regulatory
approval to lift its stake about 20% and have any discussions been held with
regulatory authorities about this happening. Given current relations with
China, do the State Grid nominees regard it as unlikely that approval would be
given to lift their stake?
has one of the world's highest rates of gas reticulation penetration. Are we
concerned that government entities such as the City of Yarra, controlled by 5
Greens councillors, are actively pushing plans to encourage residents to
disconnect from gas and move to renewable electricity? Is stranded gas assets
becoming a more prominent risk on our risk register?
that the total payments to the NEDs was only $1.9 million in the previous
financial year and there are no plans for any increases, why the need for an
increase in the fee cap. Could the next chair be paid more than the current
chair? NOT ASKED
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