AGMs

AGMs attended in calendar 2024


June 4, 2024

Below is a list of the 37 AGMs participated in so far in calendar 2024. Thanks to the ease of online access, there was a record 70 in 2021 and then 130 in 2022 followed by 109 in 2023. This lifted the overall tally since 1998 above 830.

1. Fleet Partners (FPR): 9am hybrid in Sydney on Thursday, January 25, 2024 with physical component at Freehills. See notice of meeting. Mark cap $750m. Was only 1 of 5000 shareholders to ask questions and here is the text of all 6 of them. Voting results commendably showed outcome by shares and shareholders and there were no material protest votes with only 103 shareholders bothering to vote. Awaiting full archive of 1 hour webcast.

2. Nufarm (NUF): hybrid at 11am on February 1 with physical component at Laverton North head office. See notice of meeting. Attended in person, only 1 other person in the room asked questions and the meeting lasted 63 minutes. Failed to follow the agenda and no protest votes. See links to audio of key exchanges.

3. Technology One (TNE): hybrid meeting in Brisbane on February 21. See notice of meeting and text of 8 questions asked along with a summary of the answers and some video grabs via Twitter. The meeting lasted 80 minutes and the only protest votes were against the two directors seeking re-election.

4. Boart Longyear: (BLY): The scheme meeting to approve a US private equity takeover took place on February 21 at 10am. Here is the text of the 5 questions lodged. All but one were censored and the meeting was done in less than 20 minutes.
No webcast archive was provided and the deal was approved by 99.97% of voted stock although this was only 83 in favour and 21 against. The shares were suspended on April 5 with shareholders paid on April 10.

5. Aristocrat Leisure (ALL): The following 9 written questions were lodged at the 2024 Aristocrat Leisure hybrid AGM held on February 22. Commendably, they were read out in full with no censorship at the 1 hour and 50 minute meeting. There was a 21% protest vote against the CEO's LTI grant which wasn't really properly discussed, partly because the proxies weren't disclosed with the formal addresses.

6. Scentre Group (SCG): 10am hybrid on April 4 with physical component at the Wesley Centre in Sydney. See notice of meeting. No early disclosure or proxy position. They've largely sorted the NTA discount to market cap issue. Suffered a rem strike and 26% protest against CEO's LTI grant. See webcast of 100 minute meeting where David Kingston gave them a hard time. See text of 8 written questions lodged and summary of answers with video links.

7. Telix Pharmaceuticals (TLX): 10am hybrid in Sydney on April 5 for EGM to approve some acquisition-related share issues. See notice of meeting and voting results announcement. Asked these 4 online questions.

8. AMP: 10am hybrid in Sydney on April 12. See notice of meeting. There were no material protest votes and the meeting lasted 2.5 hours with questions from about 20 different shareholders, including the fabulous activist fund manager, Fred Woollard.
See text of 7 written questions asked and summaries of the answers with video links. See AGM webcast and transcript.

9. Volpara Health Technologies (VHT): an agreed takeover of the Wellington-based breast cancer company by South Korean cancer AI company Lunit Inc which values the equity at $296m. See scheme book. Hybrid scheme meeting held at 11am on April 12 and asked 3 online questions. Was approved by 97% of voted stock and no head count vote required in NZ. A webcast archive was available here until the deal completed.

10. Bell Financial Group (BFG): Here is the text of the 5 questions lodged at the 2024 Bell Financial Group virtual AGM held on April 19, plus a summary of the 3 which were answered along with videos via Twitter. The meeting lasted 28 minute meeting. There was no early disclosure of the proxies in the formal addresses and the 3 board candidates weren't invited to speak. No material protest votes.

11. Latitude Financial (LFS): 9.30am physical only meeting in Melbourne on April 24 - see notice of meeting. Last attended in 2022 when it was a hybrid meeting with physical component at the RACV Club in Melbourne. See text of 8 questions asked. The meeting lasted just under an hour and I was the only questioner. Thin skinned chair Mike Tilley has banned online questions ever since, so had to turn up in person this year and had some lively exchanges again with Mr Tilley, who will finally be departing at next year's AGM. Was the only person questions at the 1 hour meeting. See webcast.

12. Woodside Energy (WPL): returned to a hybrid this year in Perth on April 24. See text of 6 questions asked. Watch webcast of 4 hour meeting.

13. Link Group (LNK): Japanese giant Mitsubishi agreed to pay $2.16 per share or $2.1 billion in enterprise terms after years of poor performance, much of which was associated with its UK division. The share registry and investor services business was floated at $6.37 per share in October 2015. However, when you add back the performance of PEXA, which was spun off in 2021, the performance wasn't as bad. The hybrid scheme meeting took place at 3pm on April 24 in Sydney at the Four Seasons. See text of 4 questions asked as the deal sailed through with 99% support from voted shares.

14. Rio Tinto: 9.30am hybrid meeting in Brisbane on May 2. See notice of meeting. Lodged 3 written questions but only two were dealt with. Biggest protest 20.4% against buyback followed by 4.14% against chair Dominic Barton. Watch webcast and read transcript.

15. G8 Education (GEM): 11am hybrid on May 7 with physical component at Allens in Brisbane. See notice of meeting. See text of 6 written questions, which were all asked in full. Generated this coverage in The AFR.

16. Iluka Resources (ILU): Hybrid. 9.30am WST at Perth Convention Centre on May 7. See text of 7 questions asked. The only protest vote was 7.7% against the rem report.

17. Capral Aluminium (CAA): 10am fully virtual meeting on May 8 - see notice of meeting. See text of 6 written questions, plus video grabs of responses. Only 1 other online question and no protest votes. Market cap around $165m.

18. Ampol: 10am hybrid in Sydney on May 9 - see notice of meeting. See text of 6 questions asked which were all read out in full. Proxies were once again not disclosed with the formal addresses and biggest protest vote was 4.7% against Mike Ihlean. Watch the webcast archive of the 75 minute meeting. No transcript was provided.

19. QBE Insurance. hybrid at 10am on May 10 with physical component at Wesley Centre in Sydney. See notice of meeting. See pre-AGM letter - chair Mike Wilkins largely rejected requests. See text of 6 questions lodged and a summary of the answers. No protest votes and meeting lasted just 75 minutes with only questions from 4 shareholders.

20. ARN Media (A1N): 9am hybrid in Sydney on May 14. See notice of meeting. See text of 6 questions asked.

21. Briscoe Group (BGP): NZ hybrid starting at 10am NZ time (8am Melb time) on May 16. See notice of meeting. See text of 6 questions asked. No protest votes. Market cap almost $1 billion.

22. Atlas Arteria (ALX): 10am hybrid on May 16 with physical meeting in Melbourne at RACV Club. See notice of meeting. No protest votes of note. See text of 6 questions asked, which scored a run in The AFR. Biggest protest vote 4.95% against director fee rise. Watch webcast of 95 minute meeting.

23. 29Metals Ltd (29M): May 21, 10.30am hybrid meeting with Melbourne component at The Windsor. See text of 7 questions asked. Biggest protest vote 9.6% against rem report. Market cap $350m in May 24. See notice of meeting.

24. Brainchip Holdings (BRN): May 21 hybrid in Sydney starting 11am. See notice of meeting. Market cap $1.6 billion in 2022 and only $289m in Feb 24. See text of 6 written questions submitted. See interesting voting results showing only 14% of voted stock wanted a second strike board spill.

25. Eagers Automotive (APE): 10am hybrid in Brisbane on May 22. See notice of meeting. See text of 6 questions asked. There were no material protest votes at the 80 minute meeting and proxies were disclosed early with the formal addresses which contained a shock profit warning which drove the share price down 15% as the meeting commenced.

26. Ventia Services (VNT): May 23, 10am: virtual only meeting. See notice of meeting and text of 6 written questions. Natasha Lee was only other shareholder asking questions. They published proxies early with biggest protest 15% against CEO's LTI grant.

27. Karoon Energy (KAR): 10am hybrid at the RACV Club in Melbourne on May 23, 2024 - see notice of meeting and text of 6 written questions. Meeting lasted 2 hours and 40 minutes with big protest votes, including a rem strike.

28. Stanmore Resources (SMR): 1pm hybrid in Brisbane on May 23, 2024 - see notice of meeting. See text of 6 questions asked. No other shareholder contributed. Proxies were released with the formal addresses and biggest protest vote 9% against rem.

29. Pepper Money (PPM): fully virtual, 3pm on May 23, 2024. See notice of meeting. See audio grabs of 7 question exchanges. They took the Lumi link down before had a chance to capture the text. Proxies disclosed early with the formal addresses.

30. Neuren Pharmaceuticals (NEU): 2.30pm hybrid on level 33 of 477 Collins St - see notice of meeting and text of 6 questions asked. Market cap $3.1 billion on day of AGM.

31. Tigers Realm Coal (TIG): May 28, 3pm: hybrid with physical component at Rendezvous Hotel, 328 Flinders St, Melbourne. See text of 5 written questions asked. Market cap $196m in 2022 and $50m now. Owen Hegarty used to be on board. See notice of meeting. Link is running online component.

32. Kina Securities (KSL): 10am Port Moresby time on May 29 for a fully virtual meeting. See notice of meeting. See text of 6 written questions, only 4 of which were answered. Market cap $270m. See 8 questions asked at 2023 AGM.

33. Probiotec (PBP): Owns 6 pharmaceutical manufacturing plants in Australia and has agreed to a takeover by Indonesian company PT Pyridam Farma Tbk which values the business at around $260 million. Grant Thornton valued the business at between $2.78 and $3.29, which fell within the $3 per share bid price. See scheme implementation agreement. Hybrid scheme meeting held at 10am on May 29. See text of 5 written questions.

34. Bluebet (BBT): May 30, 2024, 10am virtual EGM to approve BETR merger. See notice of meeting and text of 6 questions asked.

35. Yancoal (YAL): 11am hybrid meeting in Sydney on May 30, 2024 - see notice of meeting and text of 6 questions asked.

36. Brazilian Rare Earths (BRE): Sydney-based company which floated in December 2023 when it raised $50 million at $1.47 and now has a market cap of $715m. A fully virtual AGM via zoom at 9am on May 31. See notice of meeting. See text of 6 questions lodged. No protest votes.

37. Far Ltd (FAR): market cap down to $40m in April 2024. Noon virtual on the last day once again - see notice of meeting. See text of 5 questions lodged and summaries of the answers. Was the only 1 of the almost 4000 shareholders to ask questions at the 20 minute meeting.