6 questions lodged at 2025 Seafarms hybrid AGM
November 25, 2025
Below is the text of the 6 written questions submitted at the 42 minute Seafarms (SFG) 10am Brisbane hybrid held on November 25, 2025. See notice of meeting and Computershare link. Huge accumulated losses of $300m with Ian Trahar keeping prawn farmer afloat. Massive protest votes including second strike and support for board spill last year, plus came through with extra voting data. See text of 4 questions asked. Market cap $14.5m on AGM day. The proxies were not disclosed early in the formal addresses and there were once again big protests caused by 19% shareholder Jan Cameron who delivered a 69% against vote on rem, the defeat of the placement expansion request resolution and 33.7% against the re-election of chair Rod Dyer.
Q1. There seemed to be a lot of conflict at last year's AGM with big protest votes and even support for a board spill. It was difficult to understand for unsophisticated retail shareholders. Could Ian Trahar and the next most senior director please clarify what was going on and whether the major shareholders are less hostile to the board this year, based on the proxy votes received?
Answer: The chair... Watch video of exchange via Twitter.
Q2. Thank you for offering a best practice hybrid AGM again this year and will a full copy of the AGM webcast be made available on your website for shareholders unable to watch it live. I'm trying to attend 4 AGMs simultaneously at the moment, which is impossible. Also, well done for disclosing the head count data in last year's poll results announcement. Will you be doing that again today so we see where retail shareholder sentiment sits and the chronically low retail shareholder voting rate.
Answer: The chair... Watch video of exchange via Twitter.
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. What is our history of doing selective placements, why are we asking for this authority and has there been a substantial protest vote against this resolution? Placements favour big end of town investors at the expense of retail investors so please don't use this capacity in the following 12 months and don't ask for this authority again next year.
Answer: The chair... Watch video of exchange via Twitter.
Q4. There was a 34% proxy protest vote against Rod. What is the issue here?
Answer: The chair... Watch video of exchange via Twitter.
Q5. With Jan Cameron voting her 19% stake against all resolutions, does that mean the request for an extra 10% placement capacity has been defeated and we've suffered another remuneration strike? Has Ian Trahar tried having a meeting with Ms Cameron to sort out the dispute between the two most important backers of Australia's biggest prawn company?
Answer: The chair... Watch video of exchange via Twitter.
Q6. The environmental movement is running a long and aggressive campaign against salmon farming practices in Tasmania, which has even included hostile shareholder resolutions at the last two Coles and Woolworths AGMs. How do these groups score our practices and what do we do from an ESG point of view that doesn't occur in less sophisticated offshore markets? Do Coles and Woolworths take an interest in our sustainability practices?
Answer: The chair... Watch video of exchange via Twitter.
Copyright © 2025 The Mayne Report. All rights reserved
