2 questions lodged at 2026 Waypoint REIT (WPR) hybrid AGM
May 20, 2026
Below is the text of the 2 written questions submitted at the 60 minute Waypoint REIT (WPR) 10am hybrid in Sydney and via the Link/MUFG platform on May 20, 2026. See notice of meeting. Voted by proxy on April 26 and appointed David Kingston as proxy who attended and asked a few questions which I didn't hear as arrived late due to attending FGX AGM on the same day, where was running for the board. WPR's market cap was $1.6b on AGM day. Biggest protests last year 14% against rem and CEO LTI grant. The proxies were disclosed early in the 2026 formal addresses with the only poll protest vote being 9% against the re-election of chair Georgina Lynch.
Q1. Thanks for disclosing the proxies early to the ASX. Why was there a 9% protest vote against the chair's re-election? Was it driven by a proxy adviser recommendation?
Answer: Given all the proxy advisers recommended in favour of the re-election of chair Georgina Lynch, the 9% protest vote was a surprise. Corporate voting in Australia is not a secret ballot so they know who voted against and should have explained the situation. Instead, shareholders were left in the dark. The disclosed major shareholders in the latest annual report include Vanguard, State Street, Blackrock, Mitsubishi, CBA, First Sentier and KKR. Who dunnit? Watch video of exchange via Twitter.
Q2. When disclosing the outcome of voting on all resolutions today, including this LTI grant to the CEO, please advise the ASX how many shareholders voted for and against each item, similar to with a scheme. This will provide a better gauge of retail shareholder sentiment on all resolutions and insight into the chronically low retail shareholder participation rate. The likes of Qantas, ASX, Suncorp, Tabcorp, Myer, Flight Centre, Stockland and Computershare have all voluntarily provided this data at their most recent AGMs.
Answer: The chair Georgina Lynch said they would take this request on board but then failed to deliver in these voting results despite all these other companies getting with the program. It was a shame, as they would have made it onto this best practice list given they do everything else right. Watch video of exchange via Twitter.
Copyright © 2026 The Mayne Report. All rights reserved
