4 questions lodged at 2025 Australian Finance Group (AFG) AGM
October 17, 2025
Below is the text of the 4 written questions submitted at the 35 minute Australian Finance Group (AFG) 9am hybrid AGM in Perth and via the Link/MUFG platform on October 17, 2025. See notice of meeting. Market cap was $671m on AGM day after a great year. The proxies were disclosed early in the formal addresses. Was the only shareholder asking questions and also asked these 5 questions at last year's 2024 AGM.
Q1. 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?
Answer: The chair Greg Medcraft and CEO David Bailey both pitched in, stressing people were their most important asset and staff numbers would not be falling. Watch video of exchange via Twitter.
Q2. Thanks for disclosing the proxies early along with the formal addresses, including the head count data. Last year you removed the head count data from the poll results. The latest annual report says we have 18,946 shareholders and it would be useful to know how many of them voted for and against each item in the poll. Stockland and ARB both did this for the first time yesterday. Will you follow suit today in order to make retail voting sentiment pubic and also to highlight the chronically low retail voting rates in Australia, a problem which needs to be tackled. Having the data will help.
Answer: The chair ... Watch video of exchange via Twitter.
Q3. Thank you for bucking the normal trend with Perth-based companies and ticking all the key boxes with today's AGM. You've offered a full hybrid with video, disclosed the proxies early with the formals to the ASX, received no material protest votes & not waited until late November to hold the AGM. I've nominated for the board of multiple Perth-based companies which hold dinosaur physical AGMs in late November in order to try and shift practice and appreciate having transparent and well governed companies like AFG based in Perth which can be cited as a best practice example when negotiating with other Perth-based companies to lift their game.
Answer: The questions wrangler took this as a comment but former ASIC chair Greg Medcraft was kind with his words. Watch video of exchange via Twitter.
Q4. A well governed board has multiple potential future chairs on the board and doesn't have to look outside when the chair exits. Do Jane Muirsmith and the chair believe that is currently the case at AFG? Also, could the chair comment on the likely timetable for chair succession. For instance, is he definitely planning to run again when his current term expires? None of this is to suggest that Greg is doing a bad job and should go. He appears to be a very good chair and we're doing well so keep it up.
Answer: The two director candidates did not speak to their election and on this one chair Greg Medcraft said he would be nominating again when his current term expires but succession is an issue they are always mindful of. Watch video of exchange via Twitter.
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