Stephen Mayne questions at 2021 Blackmores AGM

October 29, 2021

Here are the questions Stephen Mayne asked at the 2021 Blackmores AGM, with those that weren't asked in italics.

Will George Tambassis be invited to orally answer live questions at today's AGM and why didn't the company provide him and Marcus Blackmore with a list of supplied email addresses when he requisitioned a copy of the share register. If the incumbent directors have access to shareholder email addresses to recommend against George, why not run a level playing field and provide him with a list of email addresses as well?

When disclosing the outcome of all other resolutions today, will the chair agree to publicly disclose how many shareholders voted for and against each item, similar to what happens with a scheme of arrangement? This will provide a better gauge of retail shareholders sentiment on all resolutions and was a disclosure initiative recently adopted by Metcash and Southern Cross Media after their AGMs. Will a fully copy of the webcast along with a transcript of the AGM debate also be made available online?

Chair: no transcript, just a webcast archive and the standard voting disclosure.

Treasury Wine Estates has voluntarily moved to annual elections for directors in line with best practice that occurs in the US & UK. Dual listed companies like News Corp, BHP & Rio all do this due to these laws. What does the chair think about this idea & could the chair also comment on whether Blackmores will consider following suit by being more regularly accountable to shareholders. With a commitment to annual elections for directors, does the chair agree there will be less incentive for Marcus Blackmore and his supporters to requisition an EGM proposing to remove individual directors.

Chair: no

Did the so-called code of conduct issue involving Marcus Blackmore relate to robust board discussions about whether Blackmores should get out of India and was the company involved in briefing Leon Zwier from Arnold Block Leibler to brief The AFR Rear Window columnist Joe Aston to write a story suggesting there were gender issues involved in his departure from the board.

Not asked.

How many meetings, emails and phone calls has the chair had with Marcus or his representatives since he departed from the board 12 months ago. Is it a constructive relationship and stable enough to take the company forward?

Chair: all fine when in truth the relationship has completely broken down, such that Marcus voted against the chair's re-election.

If Marcus declares that the election of George Tambassis and a new chair is the price of peace, is Anne Templeman Jones prepared to consider making that sacrifice in order to deliver peace. This would not involve resigning as a director, just handing over the chair position to one of the other new directors up for election today. Is the board due to consider the position of chair at the first board meeting after this AGM, as is common at many organisations?

Chair: the chair selection is not currently on the agenda but will always act in best interests of the company.

Did Marcus cast his proxy votes against Anne's election. Did he explain why he did that?

Chair: no comment, would breach privacy.

Wendy Stops is a director of Coles, one of Australia's biggest tobacco retailers. How does she reconcile being a director of Blackmores whilst being a director profiting from hundreds of millions in tobacco sales. Has she pushed for Coles to get out of tobacco?

Chair: ruled out any discussion of issues at other companies.

Can Ms Warburton outline the full history of her dealings with Marcus and George?

Warburton: interviewed George and have met Marcus.

Who is this personal adviser to Marcus that the board talks to. It's obvious that Marcus voted against the chair based on the numbers, so please don't dodge the question and claim how a 23% shareholder votes is a private matter.

Chair: refused to name Stephen Chapman as the adviser.

Who is this mystery Marcus adviser who met with Wendy and Sharon?

Chair: refused to name Stephen Chapman as the adviser.

Stephen Roche is used to dealing with controversial Rich Listers such as Solomon Lew who was a major shareholder in API. How did he deal with Solly as an agitating major shareholder and can he outline his full history with George and Marcus.

Chair ruled out discussions of other companies.

Has Stephen Roche ever met with Stephen Chapman, the Marcus adviser who met with Wendy and Sharon?

Chair: smiled about the naming of Chapman and let Roche answer the question.

Marcus has voted in favour of all incumbent candidates but against the chair. Does Erica agree that it may be necessary to change the chair in order to achieve peace with our major shareholder and founder. Is it true that chair selection is on the agenda at the next board meeting?

Chair: wasn't keen for Erica Mann to answer the question.

Where does Erica live and when is she going to buy a more meaningful stake in the company? Is she too busy with offshore board seats like Kelloggs. How does it work being the first foreign-based Blackmores director. Has she met George and Marcus?

Chair: she lives in Sydney and has 3 years to buy shares worth one year's fees.

Could the chair comment on whether it is true that Marcus wrote to Blackmores saying he would vote against the chair. Why wasn't this disclosed to the ASX, let alone to this meeting. Was George aware of the Marcus position and could he detail his full history with Marcus?

What investments does George have outside his family home in the health care sector and does he commit to put more than 10% of his net worth into Blackmores shares.

Did Blackmores charge George and Marcus when supplying them a full copy of the share register and was it provided in a timely matter? Could George comment on whether he felt it was a level playing field in terms of how this contested election campaign was conducted?

Chemist Warehouse is backing George. Can George detail his full history with Chemist Warehouse. Are they a competitor to his private pharmacies?

How much has George spent on this campaign and can he detail how comprehensive his shareholder soliciting campaign was. Was he in cahoots with Marcus or lobbying separately?

Not asked.