1. Do any of the 5 main proxy advisers which cover ASX listed companies - ACSI, Ownership Matters, Glass Lewis, ISS and ASA - cover our company? In addition to resolution 5, have there been any material proxy protest votes against any items of business? Will you disclose the proxy votes before the debate on each resolution so shareholders can ask questions about the reasons if there have been any protest votes? Also, why not disclose the proxies to the ASX with the formal addresses like others now do?
Answer: Asked as a double header at the end of the meeting with the transcript question and moderator "Johnson" said they weren't covered by any of the proxy advisers and the only protest vote was against the withdrawn placement authority item. Listen to audio via Twitter.
2. Have we had any further discussions with Westpac since last year's blocked acquisition and how have Westpac been conducting themselves in the market. Are they a disinterested competitor lacking capital support from Australia or have they redoubled their efforts to grow market share in the Pacific?
Answer: Australian CEO said Westpac were not competing aggressively in the market - listen to audio via Twitter.
3. The fairest way to raise capital is pro-rata. Could board candidate Karen Smith-Pomeroy please explain why she and the other directors wanted to open up options to do more placements, as per resolution 5, as opposed to pro-rata. Also, does Karen agree that the proxy position on resolution 5 should be disclosed given that shareholders went to the trouble of voting and it wasn't withdrawn until after proxy voting had closed?
Answer: not asked.
4. Could the CEO summarise his past LTI grants as to whether they have vested or lapsed. Also, has he ever sold any ordinary shares in the company or bought any on market without relying on an incentive scheme to build his equity position in the company? Please don't say look it up in the annual report and through ASX announcements. It's complicated over multiple years and the CEO could factually summarise the situation in 60 seconds.
Answer: not asked.
5. If one of the Big Four Australian banks launched a takeover bid for Kina, does the chair believe that it would be blocked by the PNG Government. Apart from Westpac, which of the other Big Four Australian banks are significant competitors to Kina in the Pacific?
Answer: was asked after all items had been dealt with and Chair said he didn't believe it would be blocked as PNG Government wants Australian competition in the market, as opposed to the recent trend of them all trying to leave. Listen to CEO explain competition situation via Twitter.
6. Given that we are listed on the ASX, will the board agree to put the remuneration report to shareholders for approval at next year's AGM, like all Australian-domiciled companies have to do. Sure, this would be voluntary but it would also be best practice.
Answer: not asked.
7. Why are we approving a DRP at the same time as seeking approval to expand our placement capacity. DRPs are not required to be approved in Australia. Is this a PNG requirement.
Answer: Yes, it is required in PNG. Listen to audio via Twitter.
8. Given the interesting discussions across a range of topics today, including this DRP item, 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 ASX listed companies Nine, AGL, ASX, ANZ, Domino's and Lend Lease all produced their 1st AGM transcripts in 2021. Will you follow suit today?
Answer: Asked as a double header at the end of the meeting with the proxy adviser question and moderator "Johnson" said they would consider this proposal - watch video via Twitter.
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