4 questions lodged at 2026 ImExHS Ltd (IME) hybrid AGM

Q1. Thank you for disclosing the proxies early along with the formal addresses ahead of today's AGM and well done for receiving more than 90% support in favour of all resolutions. What changes have we made to remuneration to maintain such strong support after the remuneration strike in 2024?

Answer: Former Murdoch enforcer Doug Flynn ran a good hybrid AGM today, although he got a bit confused about the previous 27% rem strike which did occur at the 2024 AGM (See voting results from that meeting). There were no protest votes today as the business turns cash positive and Doug said they were communicating better and hadn't changed anything notable about the rem structure. Watch video of exchange via Twitter.

Q2. I'm generally against proposals which give boards the unfettered power to issue 25% of the company's capital to anyone they like with no shareholder approval or rights for the existing shareholders to participate and avoid being diluted. Why did you ignore my request at last year's AGM to stop asking for this additional 10% placement authority? Are you planning a big placement? If so, will you promise a share purchase plan for retail shareholders on the same terms as the placement?

Answer: Second year straight have asked ImExHS to stop asking for extra 10% placement capacity. Reinforced importance of an SPP for retail if they do another placement. They did a poorly taken up SPP in 2025 and chair Doug Flynn said less likely to need more capital as finances improve. Watch video of exchange via Twitter.

Q3. Thank you for offering a best practice hybrid AGM today and for disclosing the proxies early to the ASX. Will you also continue last year's best practice and disclose the headcount data in the poll results lodged with the ASX, so we can see how many of our 738 shareholders voted for and against each item of business? It will be interesting to see how many shareholders voted against the chairman's share grant as it is not best practice for independent chairs to be paid with shares, although I acknowledge this does build alignment and conserve cash?

Answer: No one turned up in person for the physical component of the ImExHS hybrid AGM at Automic in Sydney but two of us 738 shareholders weighed in online. Surprised chair Doug Flynn was resisting head count poll data when they did it last year. Early proxies showed no protests. Watch video of exchange via Twitter.

Q4. There has been a lot of commentary that the latest Federal budget tax changes will reduce incentive and innovation in Australia with punitive increases in capital gains tax rates to what will be close to the highest rates in the world. Could the chair comment on whether the proposed budget changes has any implications for our company, such as the way we incentivise management, and what is his overall response to the budget as it relates to the broader business and tax settings in Australia?

Answer: First AGM question about the impact of the anti-business tax-grabbing Federal budget. Given the ImExeHS management team are all based in Colombia, chair Doug Flynn said it was the Australian-based shareholders who would suffer the most damage. Watch video of exchange via Twitter.

Copyright © 2026 The Mayne Report. All rights reserved

• share
  Share
  • 
    Facebook
  • 
    Twitter
  • email
    Email
  • print
    Print
  • link
    Copy Link
  • cancel
    Cancel