4 questions lodged at 2025 DUI hybrid AGM

Q1. The notice of meeting has two references to our fabulous chairman Charles Goode being "chairman emeritus" of other organisations. This seems to be a growing thing with both Reece founder Alan Wilson and Rupert Murdoch adopting the title after formerly retiring from the public companies they long lead as executive chairs. Could Charles explain what sort of access to documents and meetings a "chairman emeritus" has in practice or should have. And given he is now 87, has he considered moving to Chairman Emeritus at DUI as so far his Emeritus portfolio has not yet moved to a public company?

Answer: The chair... Watch video of exchange via Twitter.

Q2. Treasury Wine Estates was one of our stable's new investments in 2025 and unfortunately its share price has crashed recently. TWE is holdings it's AGM less than 100 metres from ours right now at The Sofitel over the road from Evans & Partners. John Mullen, the TWE chair, is clearly overboarding as he is also the chair of Qantas and Brambles. As an authoritative voice in the director community, has Charles Goode counselled Mr Mullen to resign from one of his positions and does he have a view on what has gone wrong at TWE. Could an over-committed chair be part of the problem?

Answer: The chair... Watch video of exchange via Twitter.

Q3. Do we really need to renew this proportional takeovers provision. Are we worried that the ever-aggressive Geoff Wilson might attempt a partial takeover one day? Can the chair cite any examples where a proportional takeover has been launched against an LIC and what would be so bad if such an offer was launched? Which law firm advised us to put up this resolution?

Answer: The chair... Watch video of exchange via Twitter.

Q4. Many thanks to Charles Goode and the board for once again running a perfect AGM. It was a hybrid which maximises shareholder participation and access, the formal presentations were insightful, especially the line about ETFs and LICs, the proxies were disclosed early along with the formals to allow a more fully informed debate, there were no protest votes and, based on what happened at DUI yesterday, you're going to voluntarily disclose the headcount date like at a scheme meeting, which will make public retail shareholder sentiment whilst also highlighting how voter participation rates have crashed to alarming levels. Well done, one and all, but does the chair have any thoughts on how AGM attendance and voting rates can be stimulated?

Answer: The chair... Watch video of exchange via Twitter.

Copyright © 2025 The Mayne Report. All rights reserved

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