Tracking constitutional amendments to allow fully virtual AGMs

January 19, 2023

This list tracks attempts to amend constitutions to allow for virtual only AGMs, many of which have been withdrawn or defeated by shareholders.

Bendigo and Adelaide Bank, 2021: proposed a range of amendments but then withdrew the one related to virtual AGMs 4 weeks before the meeting and it sailed through with 98.5% in favour.

Brambles, 2021: proposed a range of amendments, including approving virtual AGMs, but then withdrew the resolution 11 days before the AGM when they knew it was facing certain defeat.

Data3: October 27, 2022: See notice of meeting. Constitutional amendments voted down with 35% protest due to move to virtual AGMs.

Estia Health: November 11, 2021: See how proposed change was explained on page 17 of the notice of meeting and see voting results where constitutional amendment to move to online AGMs was defeated by the 26.84% against vote.

Falcon Metals: pulled the plug ahead of the 2022 and didn't disclose the proxy position. See ASX announcement on withdrawal of resolution.

Flight Centre, 2021: amended its constitution in 2021 but it only squeaked through on the back of the founder votes achieving a mandate of 80%. See voting results.

Globe International, 2022: called a special meeting in May 2022 to adopt a new constitution which included full virtual AGMs. See notice of meeting. The Hill brothers control 69% of the stock so the new constitution was approved with 90% of voted stock in favour.

IDT Australia, 2022: proposed a constitutional amendment to allow virtual only AGMs at the AGM in November 2022, but pulled the resolution in the lead up after the proxies were clearly against. These have been going down for more than a year. Hope the lawyers didn't get get paid.

Kogan, 2022: amendment was defeated with 28% voted against proposal at the AGM held on November 24, 2022. See voting results.

Nickel Mines, 2022: amendment was defeated with 29.37% against at the AGM held on May 31, 2022. See voting results.