4 questions lodged at 2025 Dalrymple Bay Infrastructure hybrid AGM
May 21, 2025
Below is the text of the 4 written questions submitted at the Dalrymple Bay Infrastructure (DBI) hybrid AGM (questions only) held on May 21, 2025 in Brisbane and via the Link platform. See notice of meeting and voting results with no protest votes. Market cap was $2.03b on AGM day.
Q1. Thank you for offering shareholders the ability to ask live online written questions via the MUFG platform at today's AGM but I'm puzzled why you've disabled the online voting platform when this is standard for hybrid AGMs. How much more would it have cost shareholders to offer live online voting and will you do this next year? I like voting for directors from home at AGMs after hearing their campaign speeches but can't do this today due to this needless voter suppression tactic? What gives?
Q2. Is this going to be David Hamill's final term on the board or does he consider it likely he'll recontest again in 2028 at the age of 70? Also, could he please detail his full history with our assets, dating back to his time as Treasurer of Queensland, the Babcock & Brown Infrastructure Association & continuing on through the Brookfield years. Given that David has other paid Brookfield gigs beyond this engagement, is he a genuinely independent chair and, if not, would it make sense for us to have a genuinely independent chair?
Q3. Our constitution has a rare board entrenchment provision which requires external candidates to be nominated by 100 shareholders or 5% of shares on issue. If other ASX300 companies attempted to insert such a provision into its constitution it would be overwhelmingly voted down by shareholders & opposed by the proxy advisers. If shareholders wish to change the board, it should be as easy as possible. Will chair David Hamill undertake to put up a constitutional amendment at next year's AGM to regularise our constitution?
Q4. Australia is in the midst of an unprecedented deluge of takeovers that has contributed to listed entities on the ASX dropping in 26 of the past 27 months for a net reduction of 211 or 9.2% to 2,083 on April 30, 2025. There were a record 29 major takeovers above $200m completed in 2024. Why are public markets not valuing ASX listed companies like ours more highly and what are we doing to avoid being gobbled up? Does the chair agree this is a problem for the nation, particularly with so few new floats?
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