4 questions lodged at 2025 Macmahon Holdings hybrid AGM
November 9, 2025
Below is the text of the 4 written questions submitted at the 40 minute Macmahon Holdings (MAH) 9.30am Perth hybrid AGM held via Computershare platform. Market cap $1.02b as strong performance continues. See notice of meeting and voting results. The proxies were disclosed early in the formal addresses. Was the only shareholder asking questions. Also, see 5 questions submitted at 2024 AGM and 6 questions submitted at 2023 AGM. There were no protest votes or extra data in these poll results.
Q1. Thank you for disclosing the proxies early to the ASX with the formal addresses and well done for achieving such strong voting support on both resolutions. Your shareholders are clearly very happy. As an additional disclosure measure could you please advise the ASX how many shareholders voted for and against each item, similar to with a scheme of arrangement? This will provide a better gauge of retail shareholder sentiment and insight into the chronically low retail shareholder participation rate. It is true that retail shareholders tend to vote against remuneration reports but the likes of Qantas, ASX, Suncorp, Stockland, ARB, Myer, Tabcorp and even our own share registry provider Computershare have all voluntarily provided this data at their most recent AGMs. You've got the data, so why not let the sun shine in?
Answer: Not sure the chair Hamish Tyrwhitt knew what I was talking about as he kept talking about the turnout as measured by shares on issue rising over the years. Watch video of exchange via Twitter.
Q2. It would have been better if Suzan Pervan was announced as a new director two weeks earlier and put up for election at this AGM. Was there any reason why that couldn't happen given that she is starting on November 1? Also was a recruitment firm involved in Suzan's appointment and was it a competitive process with multiple candidates assessed? Which of our directors and senior executives knew Suzan before we commenced this latest director recruitment process?
Answer: The chair Hamish Tyrwhitt said it was a long process and the timing didn't quite work but he did say they always use a recruitment firm when seeking new directors and Suzan was known to incoming chair Greg Evans who will be stepping up from chairing the audit committee to chairing the whole company, hence they needed a new audit committee chair. Watch video of exchange via Twitter.
Q3. Thanks you to Hamish Tyrwhitt for his excellent 7 year contribution to the Macmahon board. After being unfairly spat out of Leighton by the new Spanish bosses, Hamish could have retired on his big payout. Instead, this gun operator chose to get even as a competitor to his old company and we've been lucky Macmahon was his chosen vehicle. It is always helpful for investors to have access to some exit perspectives from retiring independent directors, particularly chairs. In his final contribution as Macmahon chair could Hamish on what he regards as the best 3 decisions made during his time on the board and does he have any regrets?
Answer: Hamish rejected the suggestion he was spat out out of Leighton, clarifying that he resigned. He also kept saying I must have voted for his $13 million payout back in 2013-14. As for good decisions, recommending current CEO Mick Finnegan to be Macmahon's operations boss was his best call and he didn't offer up any regrets. Watch video of exchange via Twitter, plus these final comments from Hamish.
Q4. As the incoming chair, could Greg Evans please describe the board process through which he was identified and supported into the role. Did a recruitment firm assist with the process or was it handled internally by the board with just one obvious candidate and no need for a ballot and competing presentations?
Answer: The chair Hamish Tyrwhitt handled most of this describing a detailed process with a head hunting firm. Watch video of exchange via Twitter, plus these additional comments by Greg Evans.
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