Solitary question lodged at 2025 De Grey hybrid AGM
April 30, 2025
Below is the text of the single written question submitted at the 30 minute De Grey Mining hybrid scheme meeting held via Zoom and in Perth on April 16, 2025, to approve Northern Star's $6.2 billion all scrip takeover. See 425 page scheme book and notice of meeting. The proxies were disclosed early with the formal addresses but the retail turnout was poor. See the final poll results. I voted against using the Automic platform which was clunky given the meeting was held on Zoom. There were no questions from the floor and just two others online.
Q1. What sort of proxy solicitation campaign did we run to encourage our circa 15,181 shareholders to vote? Thank you for disclosing the proxy position early to the ASX but just 645 shareholders voting by proxy (see slide 10) is a turn out of only 4.25%, which is lower than most scheme meetings? Did we send paper ballots with reply paid envelopes to shareholders who had not provided an email address?
Answer: The chair Simon Lill read a script saying they followed the law and sent the scheme book to all shareholders, but he didn't address the reply paid envelope question or detail any form of meaningful proxy solicitation campaign, which suggests they probably didn't bother. Watch a video of the exchange via Twitter.
Also, watch this video via Twitter of how the meeting wrapped up. It's always a bit disconcerting getting terminated on Zoom like that. The Computershare, Link and Lumi platforms all allow the online meeting component to remain in place for a period after the meeting, which helps if you want to keep a copy of your written questions and things like that.
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