4 questions lodged at 2025 Gentrack hybrid AGM
February 24, 2026
Below is the text of the 4 written questions submitted at the 39 minute Gentrack (GTK) virtual AGM held at 10am Auckland time via Link on February 26, 2025. See notice of meeting and early proxy disclosure in formals. Market cap was $1.12 billion on AGM day. There were no protest votes.
Q1. The 6 most valuable US big tech stocks - Microsoft, Apple, Amazon, Alphabet, Meta and Nvidia - are together worth more than $20 trillion, largely because they have enormous pricing power and are over-charging customers the world over. Could the CEO comment on which of the big global technology companies we are most reliant on and what would we do if they suddenly put their prices up by 30%? Also, are we at all exposed to a potential US trade war involving Australia and New Zealand's treatment of big US tech companies?
Answer: The CEO Gary Miles said they are most exposed to AWS and Microsoft but were overall pretty well protected. In terms of tariffs, the chair Andy Green felt consumer-facing companies, not B2B operators like Gentrack, were more exposed. See video of exchange via Twitter.
Q2. Thanks for disclosing the proxies early & well done to Fiona for getting re-elected with >98% in favour. However, the turnout was <70%, mainly because more 95% of retail shareholders didn't bother to vote. When disclosing the voting outcome, please advise how many shareholders voted for & against, similar to with a scheme of arrangement. This will provide a better gauge of retail shareholder sentiment & insight into the chronically low retail voting rate. The likes of Qantas, ASX, Suncorp, Tabcorp & Computershare all do this.
Answer: the chair Andy Green said well done to Fiona and acknowledged it was an interesting questions which they'd have a look at, but in the end they failed to deliver. See video of exchange via Twitter.
Q3. Could new director Gillian Watson and the chair comment on the recruitment process that led to her appointment to the board. Was a head hunter involved, did the full board interview Gillian as a group and did they interview any other candidates? Did Gillian know any of our directors before engaging with the recruitment process?
Answer: The chair Andy Green summarised a good clean competitive recruitment process for Gillian's recruitment. See video of exchange via Twitter.
Q4. New Zealand is becoming a governance backwater as it continues to resist mandating annual voting on remuneration reports, which is standard in many countries around the world. Will the chair undertake to voluntarily put up a remuneration report resolution for an advisory vote at next year's AGM, rather than just deal with this narrow director fee cap component? Annual rem voting is the law in Australia and we are dual listed on the ASX, so why don't we step up and respect shareholders by adopting Australian market practice?
Answer: The London-based chair Andy Green said they would look at it but the right thing to do was follow the home exchange rules, which means no rem vote thanks to New Zealand's lack of enlightenment. He also rejected suggestions New Zealand was a backwater and claimed it leads in areas like retirement reporting, whatever that means. See video of exchange via Twitter.
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