Chairs that have claimed proxy adviser recommendations are confidential
November 1, 2025
This list track chairs that have claimed proxy adviser recommendations are confidential.
Bendigo and Adelaide Bank AGM: October 20, 2025
Q1. It's a shame you didn't disclose the proxy votes with the formal addresses, leaving us debating in the dark, particularly after last year's 19% rem protest vote. Did any of the proxy advisers recommend a vote against any of today's resolutions, including this rem report item? If so, what reasons did they give and did this translate into any material protest votes? Please don't say proxy adviser recommendation are confidential. It is standard for companies to be across this detail and inform shareholders where relevant.
Answer: The chair Vicki Carter hid behind a spurious confidentiality argument as if I was asking them to publish whole proxy adviser reports not just summarise any issues which they had raised. The bank has the reports, the institutions have the reports, how about sharing a little intelligence with the great unwashed retail shareholders who turn up at the AGM and try to make sense of the voting data. Watch video of exchange via Twitter.
Cleanaway AGM: October 20, 2025
Q3. It's a shame you didn't disclose the proxy votes to the ASX along with the formal addresses, as many major companies now do. However, at least you have displayed them in a timely manner before the debate commences today? Normally rem and LTI against votes are similar but in your case there was a 16.4% LTI grant against vote and a whopping 40.7% proxy protest vote against the remuneration report. Could the remuneration committee chair please summarise what has driven this voting and how the company intends to respond? Please don't say proxy adviser recommendations are confidential. It is standard for companies to be across this detail and inform shareholders where relevant.
Answer: The chair Philippe Etienne should have passed this to remuneration committee chair Jackie McArthur, who copped a 17% protest vote against her re-election, especially given he offered up nothing meaningful himself except for a bogus claim about proxy adviser confidentiality. Watch video of exchange via Twitter.
Data#3 AGM: October 29, 2025
Q2. Last year I asked if any of the proxy advisers recommend against the CEO's LTI grant and chair Mark Gray told me I should ask them myself. This was the worst answer I've ever had to a standard question, so let's try again. Could the chair please share with shareholders his knowledge of what the proxy advisers have recommended on this remuneration report. Also, next year could he please disclose the proxies early to the ASX along with the formal addresses as this is becoming standard practice and leads to a more fully informed AGM discussion.
Answer: The question wrangler Hayley edited out the bit in italics and chair Mark Gray gave another pompous lecture about why the proxies had to be hidden from shareholders until after the debate was finished. Truly! Watch video of exchange via Twitter.
Sandfire Resources AGM: October 31, 2025
Q3. Which of the proxy advisers covered us this year and did any recommend a vote against any of today's resolutions, including this remuneration report item? If so, what reasons did they give and did this translate into any material protest votes? Please don't say they are confidential. It is standard for companies to be across this detail on the voting recommendations and inform shareholders where relevant. Next your, could you please disclose the proxies early to the ASX with the formal addresses so we are not left debating in the dark and having to ask questions like this?
Answer: The chair John Richards went with the old proxy adviser reports are confidential defence in justifying his non-answer. Watch video of exchange via Twitter.
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