4 questions lodged at 2025 Harvest Technology hybrid AGM

Q1. Why have you chosen to hold your AGM on Friday, November 28, 2025, the last possible day for June 30 balance date companies? There were 212 last possible day AGMs on this day last year in what appears to be a conspiracy of smaller or poorly performing companies to avoid shareholder scrutiny and engagement amidst this extraordinary AGM deluge. Will you undertake to hold the 2026 AGM before the last Friday in November?

Answer: The Harvest Technology CEO Ilario Faenza wasn't aware that circa 200 ASX listed companies held their AGM today, the last day possible under the law. They'll look to do it earlier next year. At least this Perth outfit put on a virtual AGM, unlike the 100+ dinosaur physical AGMs in Perth today. Watch video of exchange via Twitter.

Q2. Will a full copy of the AGM webcast be made available on your website for the benefit of the 95%+ of shareholders who weren't able to tune in live on this last day of the AGM season when about 200 ASX listed companies all chose to hold their AGMs on the same day, making it practically impossible for many shareholders to attend multiple meetings at the same time? Even better, why not lodge a copy of the full AGM transcript or a link to the video or audio recording with the ASX for maximum transparency and accessibility?

Answer: Sounds like a yes, but let's see. Watch video of exchange via Twitter.

Q3. Why do you keep asking for an extra 10% placement capacity and are you aware that resolutions like this have been defeated at many AGMs this season? Shareholders generally don't like this. Next time you raise capital, will you consider doing a pro-rata issue which treats all shareholders equally, rather than issuing as much as 25% of the company's shares to whoever you like, potentially diluting existing shareholders without compensation. Please don't put this up again next year and has it received more than the required 75% support on the proxies?

Answer: After 25 minutes of military man chair Jeff Sengelman reading a script slowly dealing with every last decimal point in the 12 resolutions, the company secretary George Lazarou butted in on the last item and read out the standard placement question. The chair immediately threw it to CEO Ilario Faenza who grabbed the bull by the horns and powered through all 4 of my questions at once, starting at the top, so this question ended up being read out twice. Watch video of how this unfolded via Twitter.

Q4. The latest accounts show that we have accumulated losses of $68.2m and have negative equity of $10.8m but least the market is today valuing the equity at $16m so there is hope. As a relatively new shareholder, could the chair, CEO or someone with corporate memory of the company briefly summarise where all the money went and what past directors and executives should have done differently to deliver a better experience for long-standing shareholders?

Answer: Look, some of my AGM questions are okay, but not sure they need to be read out in full by both the CEO and the chair. Never had this happen before. The CEO Ilario Faenza gave a recent perspective and then handed back to chair Jeff Sengelman for a longer perspective given he has been in the role for 4 years. Watch video of exchange via Twitter including the CEO's thoughts, followed by this video of chair Jeff Sengelman's contribution.

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