4 questions lodged at 2025 Aura Energy hybrid AGM
November 29, 2025
Below is the text of the 4 written questions submitted at the 77 minute Aura Energy (AEE) 4pm hybrid in Perth and via Zoom on November 25, 2025. Market cap $156m on AGM day after a recent dive but still a good year overall. See notice of meeting and voting results. The proxies were not disclosed early in these formal addresses.
Q1. We did a $9 million placement at 14c shortly before Christmas last year where the broker Petra Capital was paid an excessive 6% fee. Why weren't our 2,673 retail shareholders offered an SPP on the same terms? The stock is now at 17c! Is there anything stopping you from offering an SPP at 14c to your loyal retail shareholders before Christmas?
Answer: the executive chair Phil Mitchell asked me to orally present the questions so I don't have any video but he said the board would seriously consider an SPP in the period ahead.
Q2. Macquarie Group is listed in the annual report as our largest shareholder with 13.3%. What is the history of this shareholding and do we get any extra assistance with financial services having them as a major shareholder? Is there anything stopping them selling their shares or from launching a takeover bid?
Answer: the executive chair Phil Mitchell asked me to orally present the questions so I don't have any video but he said Macquarie is free to do whatever they like with the shares and, through a different division, Aura Energy does have extensive dealings with Macquarie.
Q3. There have been many substantial protest votes against resolutions like this during the current AGM season. It is not good practice to allow a board to selectively place up to 25% of the company's shares to anyone they like over a 12 month period, diluting the existing shareholders without compensation for their lost property rights. Why are we asking for this authority, has there been a substantial protest vote against this resolution and will you undertake not to request this again at next year's AGM. Placements favour big end of town investors at the expense of retail investors and you've just done a placement with no SPP. Why should we vote for this to encourage you to shaft us again?
Answer: the executive chair Phil Mitchell asked me to orally present the questions so I don't have any video but he claimed to have lots of proxies in his back pocket to ensure the required 75% super majority would be achieved.
Q4. When disclosing the outcome of voting on all resolutions today, including this share grant to Warren Mundine AO, please advise the ASX how many of our 2,673 shareholders voted for and against, similar to with a scheme of arrangement? This will provide a better gauge of retail shareholder sentiment on all resolutions and insight into the chronically low retail shareholder participation rate which has crashed to below 2% since the move away from paper after COVID. As Warren would know, Australian political elections achieve 90%+ turn out rates so please embrace transparency to highlight this participation crisis in Australia's corporate democracy process.
Answer: the executive chair Phil Mitchell asked me to orally present the questions so I don't have any video but company secretary Ross Kennedy disclosed that 78 shareholders voted by proxy.
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