5 questions asked at 2022 DUI AGM

October 20, 2022

Here is the the text of the 5 questions asked at the 2022 Diversified United Investment (DUI) hybrid AGM held on Thursday, October 20.

1. Why don't we merge with AUI to create a single scaled LIC with a market capitalisation of more than $2 billion and the Potter Foundation as anchor shareholder with around 20%. Did we consider making a rival merger proposal with Milton when Soul Patts launched their takeover last year?

2. Is Charles Goode intending to serve a full 3 year term and could he indicate whether he believes the next chairman of DUI is currently on the board? Also, who does he personally deal with at the Potter Foundation and does he regard himself as representing the Potter interests or being independent of them?

3. Given the interesting discussions across a range of topics today, including this constitutional proposal, could the chair undertake to make an archived copy of the webcast plus a full transcript of proceedings available on the company's website? The likes of Nine, AGL, ASX, ANZ, CIMIC, Domino's, G8 Education and Lend Lease all produced their 1st AGM transcripts in 2021. Will you follow suit today?

4. I'm a small shareholder in almost 400 companies and DUI and AUI are the only companies which send out a snail mail version of the chairman's AGM address, after the meeting. Isn't this a waste of money and bad for the environment? If going to the trouble of mailing shareholders after this year's AGM, could you at least also include the voting results and a summary of the debate, including potentially even a full transcript of proceedings.

5. Thank you for running a hybrid AGM today which maximises the opportunity for retail shareholders to participate. Big companies like Orora, Star Entertainment, CBA, Origin Energy and Cleanaway have failed to offer online questions during this current AGM season. Could you please put some pressure on them to adopt AGM best practice transparency, like DUI has done this year. How much more does it cost shareholders to offer the online component of a hybrid meeting and would the cheapest option be fully virtual?