3 questions lodged at 2025 Wellard hybrid AGM

Q1. Thanks for offering a hybrid AGM today and well done for the commercial returns you have achieved winding down the company. Once we have delisted, how often are you planning to communicate with shareholders?

Answer: The chair John Klepec thanked me for the support and said they would provide updates at the end of the half year and the full year, but not to same extent. The company secretary said they are still subjected to the continuous disclosure laws under the Corporations Act, not the ASX listing rules, and will update their website with news as required. Watch video of exchange via Twitter.

Q2. Thank you for disclosing the proxy position early to the ASX along with the formal addresses. There have been no material against votes on any of the resolutions, including this delisting proposal, but what is the situation with the large open proxy position. Could these open proxies be voted against the delisting proposal in the poll or are they sitting with the chair and will be voted in favour?

Answer: The chair John Klepec said the open proxies were with the chair so everything, including the delisting proposal, was approved without material opposition. Watch video of exchange via Twitter.

Q3. How did John Klepec first get involved with Wellard and how much will he be paid to chair once we are unlisted?


Answer: The chair explained his history with the founder but didn't answer the question as to how much he will actually be paid as chair once it has delisted. The board is shrinking to 3 but if he sticks with the 2016 fee cap, that could accommodate a pay rise for him.
Watch video of exchange via Twitter.

Copyright © 2025 The Mayne Report. All rights reserved

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