5 questions lodged at 2023 Starpharma AGM
November 30, 2023
Below is the text of the 5 written questions lodged at the 2023 Starpharma hybrid AGM held on November 29. No early proxy disclosure and there was a 21% vote against rem and 28% against out-going CEO's LTI grant.
Q1. Do any of the 5 main proxy advisers - ACSI, Ownership Matters, Glass Lewis, ISS and ASA - cover us and, of those that do, did any recommend a vote against this remuneration report item. If so, what reasons did they give? 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 many others now do?
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Q2. As the newest director of Starpharma, could Dr Russell Basser comment on the recruitment process that he experienced before joining the board and also his experience of the board's deliberations in terms of making the decision to transition to a new CEO. Also, did Dr Basser know any of our existing directors before engaging with the recruitment process?
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Q3. Could Mr McIntyre please comment on how the logistics are working of having a US-based director of a Melbourne-based ASX listed director. During his time on the board, how many meetings has he attended in person and what connection to any Starpharma personnel did he have before being invited to join the board?
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Q4. External candidate John Wise ran for the board last year and received 18% support, primarily thanks to the backing of our largest shareholder Allan Gray. Could chair Rob Thomas comment as to whether Allan Gray is supporting his re-election today and after 9 years as chair with $238 million in accumulated losses, isn't it time to give someone else a go, as we've clearly decided to do in terms of the CEO role.
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Q5. Thank you to Dr Fairley for her long service as CEO since 2006. Do we really need to make this final LTI grant when a new CEO will be commencing in January next year. It is always helpful for investors to have access to some exit perspectives from retiring CEOs. In her final AGM contribution as Starpharma CEO, could Jackie please comment on what she regards as the best decisions Starpharma made during her time on the board and does she have any regrets?
Answer:
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