4 questions submitted at 2024 Link scheme meeting

April 24, 2024

Below is the text of the 4 questions submitted at the 2024 Link Investment Services hybrid scheme held in Sydney on April 24, along with a summary of the answers and some video links via Twitter. The proxies were disclosed with the formal addresses and the deal was overwhelmingly approved by 99% of voted stock and 85% of voting shareholders (1,581 in favour and 281 against).

Q1. How detailed was your marketing campaign to get out the vote for today's meeting? How many shareholders voted and did you send out any printed voting materials with a reply paid envelope?

Answer: chair Michael Carapiet admitted the marketing campaign was pretty minimal but said those who requested a printed voting form got it. Watch video of exchange via Twitter.

Q2. The ASX is thinning out noticeably with the biggest drought of IPOs in a decade and one of the biggest runs of takeovers we've ever seen. There have been 55 takeover bids of major ASX listed company since 2019 with 5 completed so far this year and another 18 in the works. Is the chair concerned that our company is being swallowed up by a multinational giant, hollowing out the investment options for Australian and New Zealand shareholders?

Answer: Fascinating response from the chair who pointed out that Link's profits are up 75% but it's share price is 50% below the float price. Go figure. He said private markets are currently valuing assets more highly than public market. Watch video of exchange via Twitter.

Q3. Given the interesting discussion at today's meeting and the fact that thousands of retail shareholders did not attend live, could the chair undertake to make an archived copy of the webcast available on the company's website, at least until the transaction completes?

Answer: A straight yes. Watch video of exchange via Twitter.

Q4. Thanks to Link for providing excellent online AGM services to public companies since COVID forced AGMs to go fully online. Can you pressure Mitsubishi to continue this service?

Answer: the chair laughed and said this would be a matter for Mitsubishi, the new owner of the business. Watch video of exchange via Twitter.