4 questions lodged at 2025 Titomic hybrid AGM
November 26, 2025
Below is the text of the 4 written questions submitted at the Titomic (TTT) 9am Melb time virtual AGM via the Computershare platform on November 25, 2025. Market cap $307m on AGM day after a recent treat. See notice of meeting with 11 items for approval. The proxies were disclosed early in the formal addresses with the largest protests being almost 13% on multiple incentive grants. They also delivered this headcount data in the poll results announcement, so well done. Was attending other meetings so will have to wait for the webcast archive to be published to find out how they responded. The CFO Geoff Hollis sent through this transcript before the end of AGM day which was very efficient.
Q1. The events at Droneshield over the past 3 weeks have shocked a lot of Australian investors. We are also a high flying emerging tech play in the defence sector. The departing external auditor has identified accounting for share based payments as a key audit matter in this year's annual report. Could the chair and CEO please comment on their approach to trading in our stock and whether they are committed long term shareholders, unlike what has emerged recently at Droneshield when the chair and CEO suddenly sold their entire shareholding in one day, triggering an enormous slump in the share price?
Q2. What is our problem when it comes to treatment of retail shareholders in capital raisings? In October 2024 we did a $20 placement with no SPP for retail investors and then in July 2025 we did a $50m placement, again with no SPP. Why should your nearly 5,000 retail shareholders vote in favour of approving this resolution when all it will do is increase your capacity to mistreat retail shareholders yet again by raising capital through a selective placement to big end of town investors. Will you offer your retail shareholders a make-good Share Purchase Plan before next year's AGM?
Q3. The ASX announcements platform is meant to be the primary place where investors find out information about what public companies are doing. How is it that we went into a trading halt at 9.02am on July 24 this year and then The AFR's Street Talk column broke the news at 12.12pm the same day of our $50m non-underwritten institutional placement priced at 25c per share. Did we authorise any of Barrenjoey, Bell Potter, Gleneagle Securities and Peloton Capital, the 4 ticket clippers which shared an excessive 5.5% cash fee on this deal, to selectively brief AFR Street Talk journalists on this deal? As an ordinary retail shareholder in the company, why did I only find out what we were doing after the event when the placement outcome announcement was lodged with the ASX at 9.45am on July 25. Shouldn't the disclosure system be ASX before AFR?
Answer: this was the only one of the 4 questions which they chose not to ask.
Q4. We switched auditor from BDO to RSM after running a tender in late 2024. Did we invite all of the Big Four to participate, how may lodged proposals and how much money are we saving by going with RSM as opposed to one of the Big Four global accounting firms?
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