4 questions lodged at 2026 G8 Education (GEM) hybrid AGM
April 30, 2026
Below is the text of the 4 written questions submitted at the nearly two hour G8 Education (GEM) hybrid AGM in Brisbane and via the Link platform at high noon on April 29, 2026. See notice of meeting. Market cap $189 million on AGM day, but crashed by a third after another profit warning. The proxies were disclosed early in these formal addresses and, amazingly, there were no protest votes. Also, see summary of 4 questions asked at 2025 AGM and voting results with 28% backing hostile union-organised shareholder resolution on paid parental leave.
David Kingston had flown to Brisbane, had clearly done his research and was on fire from the floor but the chair was trying to shut him down, so I opened up with this question after his first 16 minute back and forth debate with the brass.
Q1. David Kingston is the best thing to happen to Australian AGM debate in 25 years. I was going to ask 4 questions today. Will you let David have more floor time and ask my 4 questions for me?
Answer: The chair Deborah Singh outrageously rejected this request. They've blown up more than $500m, are in the middle of a full-blown crisis and were trying to wrap up the AGM in an hour. This should be a 3 hour marathon given the Adele Ferguson occupancy crisis at Australia's biggest and worst performing listed child care operator. Watch video of exchange via Twitter.
Q2. I'm amazed there were no protest votes on any items today. Which proxy advisers issued reports and did they oppose any items, including this rem report?
Answer: The chair Deborah Singh said Ownership Matters and Glass Lewis issued reports and recommended voting in favour of all resolutions. This was surprising given the dreadful share price performance. As David Kingston explained earlier in the meeting, they once raised $100m at $4.91 in 2014. The stock was down one third on AGM day to just 16c after they issued this alarming profit warning. The thing is a massive disaster for the 15,235 shareholders. The last annual report says Allan Gray is the biggest shareholder with 17.7%, followed by Soul Patts with 9.7%, Macquarie with 8.8% (which may be assisting short sellers), Host Plus with 7.6% and Australian Retirement Trust with 7%. Watch video of exchange via Twitter.
Q3. Is this your last term?
Answer: Lobbed this question after David Kingston had grilled the longest serving director, Julie Caton, asking for an apology for the woeful performance and questioning why she was seeking to extend her 9 year run on the board? Julie explained G8 Education has a loose 10 year tenure limit for directors, which presumably means she'll be resigning 1 year into this latest 3 year term, although there was no hint of this in the answer. Watch video of exchange via Twitter.
Q4. Did either of the candidates up for election today meet with any shareholders or proxy advisers before winning these thumping 95%+ endorsements despite shareholders losing 95% of their money?
Answer: The chair Deborah Singh disclosed that Prof Julie Cogin accompanied her to meetings with both of the proxy advisers that issued reports, Ownership Matters and Glass Lewis. Puzzling why they would back her in and that their clients followed suit, given she is the longest serving director and the performance has been woeful with shareholders down more than $500 million. Watch video of exchange via Twitter.
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