4 questions lodged at 2025 Mac Copper hybrid scheme meeting

I was worried they were going to reject the questions as I'd logged in as a guest and then pleaded the case in what I thought was a private message (see below) but which question wrangler Chris Rosario treated as an inappropriate question that he was going to refuse to read out. They could have ignored the questions because the scheme booklet did say that CDI holders weren't entitled to vote or ask questions as the scheme meeting. However, having lodged 4 fairly innocuous questions half an hour early and with no other questioners, it would have looked pretty silly to reject them, but do listen to how the chair threw to question wrangler Chris Rosario, who magnanimously and voluntarily agreed to read these four out.

Q1. How many of our 1106 shareholders have actually turned up for today's meeting in person in Jersey and online?

Answer: The question wrangler and general counsel Chris Rosario said there were 7 in the Jersey room (presumably all board and management) and he wasn't sure about online. Watch video of exchange via Twitter.

Q2. The AFR carried a piece on July 10 quoting multiple shareholders complaining that the takeover price was too low. Has this translated into any protest votes today? Indeed, what is the proxy position at this general meeting and why didn't you disclose the proxies along with the formal addresses lodged with the ASX this afternoon? This is a practice that our share registry provider Computershare does at its own AGM.

Answer: The question wrangler and general counsel Chris Rosario defiantly defended the turnout and his compliance with the ASX listing rules and the CEO gave a strong defence of the takeover and the 83% turnout. Watch video of exchange via Twitter, plus this contribution on the price from CEO Mick McMullen.

Q3. I couldn't find any copy of the webcast of the 2024 AGM on the investor relations section of your website, but it does carry copies of your quarterly presentations. For the benefit of the 1000-plus MAC shareholders who were not able to attend this meeting live, could you please publish a full copy of the webcast on your website, at least until the Harmony takeover completes?

Answer: The question wrangler and general counsel Chris Rosario made this sound like an overblown request that just had to be rejected because they only follow the regulations. The request was neither relevant or material, he lectured. Watch video of exchange via Twitter.

Q4. If you wanted to get Australian-based shareholders to attend these meetings, why did you schedule them to occur late on a Friday night? Also, when disclosing the voting outcome to the ASX on Monday, could you please include the headcount numbers as well as the total votes? Did you put in much of an effort to encourage retail shareholders to vote and how many of them have voted?

Answer: The super-serious question wrangler and general counsel Chris Rosario was having none of this. How dare Australians think they deserved a convenient time when there were Europeans and North Americans to consider as well. Watch video of exchange via Twitter, plus these extra comments on the importance of scheduling not disenfranchising any shareholders. Straight after saying this they flashed up the proxies showing only 16 of the 1106 shareholders had bothered to vote, but they were all big and they all voted in favour, hence the 97% mandate from 83% of the register.

PRIVATE MESSAGE LODGED AS A QUESTION

"As the Computershare records will show, I am actually the owner of 25 MAC Copper units registered as Stephen David Mayne, PO Box 925 Templestowe 3106. My HIN is X00230000000 but I wasn't able to access the control number after the deadline for proxy voting had passed so have come in as a guest but would appreciate my 4 questions (1 already lodged and 3 to come) being read out and answered. Alternatively, please email my control number to Stephen@maynereport.com or message it through this system. Regards, Stephen Mayne Ph 0412 106 XXX"

What they didn't know is that I'd already sold out two days before the meeting, booking a $50 loss on the trade. Ended up having much more than $50 worth of fun at 10pm on a Friday night!

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