3 questions lodged at 2025 Bisalloy hybrid AGM
November 7, 2025
Below is the text of the 3 written questions submitted at the 35 minute Bisalloy Steel virtual AGM held on November 5, 2025, plus a summary of the answers and some video grabs via Twitter. See notice of meeting and voting results with only protest 18.4% against CEO LTI grant. Market cap was $230m on AGM day. The proxies were not disclosed early in the formal addresses. There was one other online question from a shareholder. The meeting was virtual due to ongoing pro-Palestine protests against its dealings with various Israeli companies.
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 CEO Rowan Melrose said they are talking about it a lot and always looking for productivity gains but at this point there are no plans to reduce the current 75 FTEs in Australia. Watch video of exchange via Twitter.
Q2. Could the only director up for re-election today, Bernard Landy, comment on how he feels about the fact there are no female directors of Bisalloy Steel. Has this caused a protest vote against Bernard's re-election and has our largest institutional shareholder Samuel Terry taken issue with the lack of diversity on our board? Will there be a female director up election at next year's AGM?
Answer: Doesn't sound like there is going to be any change soon. Watch video of exchange via Twitter.
Q3. What caused the 19% protest vote against the CEO's LTI grant. Did a proxy adviser recommend against and what was the issue. The proxies should have been disclosed before the debate not after. Please ask this question now?
Answer: The chair David Balkin read a long script explaining what the proxy advisers said and the company's response. Watch video of exchange via Twitter, plus these additional comments.
Copyright © 2025 The Mayne Report. All rights reserved
