4 questions lodged at 2025 Bravura Solutions (BVS) hybrid AGM
November 9, 2025
Below is the text of the 4 written questions submitted at the 21 minute Bravura Solutions (BVS) 10am hybrid AGM in Sydney on October 15, 2025 and via the Link/MUFG platform. See notice of meeting. Market cap $1.52b on AGM day after a recent run. The proxies were disclosed early with the formals showing a 24% protest against the constitutional change. Was the only shareholder asking questions. The latest annual report says it has 7,145 shareholders and Pinetree Capital is the largest with 22.5%. No sign of webcast archive so need to follow up.
Q1. Could Matthew Quinn please comment as to why he has resigned after only joining the board in 2023. It is always helpful for investors to have access to some exit perspectives from retiring directors. Could Matthew please comment on what he regards as the best 2 decisions made during his time on the board and does he have any regrets?
Answer: The chair revealed that 22.5% shareholder Pinetree Capital had withdrawn their support for him as both chair and as a director, so he quit. They are represented on the board by Dexter Salna and Damien Leonard and acting CEO Shezad Okhai is also considered a Pinetree associate. Matthew Quinn said he was most proud of appointing Andrew Russell as CEO, who did a great until resigning in April this year. He also cited a somewhat complicated contract exit which generated a $50m tax-effective return to shareholders. Watch video of dramatic exchange via Twitter.
Q2. How many full time equivalent staff do we currently have and is this likely to fall over the coming 12 months with the rapid roll out of AI? Which parts of our business and operations are the most prospective for AI productivity gains and how energetically are we embracing those opportunities? For a business like ours, is AI more a threat or an opportunity?
Answer: The acting CEO, voting director and Pinetree associate Shezad Okhai said he expected the 1000 staff to remain steady and AI was both a threat and an opportunity. Watch video of exchange via Twitter.
Q3. Thank you for disclosing the proxies early to the ASX along with the formal addresses. There was a 24% protest vote against the constitutional changes. Which proxy advisers recommended against and what concerns did they raise? Did the board consider withdrawing this resolution given it is so close to falling short of the 75% super majority required to make constitutional changes?
Answer: The chair said two proxy advisers were against the proposed tweak to allow for fully virtual AGMs but he didn't say which ones or why. There was no discussion about pulling the proposal as so many other companies have done. Watch video of exchange via Twitter.
Q4. Could Russell please outline his previous public company chairing experience and what changes, if any, he proposes to introduce at board level once he takes over as chair at the end of the meeting. Also, what was the selection process for choosing Russell as chair? Was a head hunter involved in the process, were there any other internal candidates and did we assess external candidates as part of the process?
Answer: The new independent chair Russell Baskerville ran through his CV which sounded good and Matthew Quinn said there was no headhunter involved in what was an internal board discussion with just one candidate. Watch video of exchange via Twitter, plus this terse conclusion from Matthew Quinn.
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