5 questions lodged at 2026 Atomic Eagle (AEU) virtual AGM
May 27, 2026
Below is the text of the 5 written questions submitted at 43 minute the Atomic Eagle (AEU) 1pm AEST virtual AGM via Automic on May 27, 2026. See notice of meeting detailing 6 items of business. The company used to be called Tombador Iron is pursuing uranium opportunities in Zambia. Market cap $155m on AGM day. Accumulated losses of $378.7m and net assets of $21.7m as of December 31, 2025. The proxies were not disclosed early in the formal addresses. The biggest protest vote was 13% against the election of chair Grant Davey.
Q1. You haven't disclosed the proxies to the ASX along with the formal addresses. Please do this next year to allow for a more fully informed debate. Were there any material proxy protest votes against this remuneration report item, or any other item today. If so, are you aware of what concerns the opposing shareholders had? If there were no protest votes, well done.
Answer: Question wrangler Abby Macnish Niven took this one and said there were no protest votes, although it later emerged there was a 13% vote against the election of chair Grant Davey (see Q5). Abby also defended withholding proxy disclosure which was disappointing. Watch video of exchange via Twitter.
Q2. As one of our most experienced directors when it comes to ASX listed companies, what is Stephen Quantrill's personal history when it comes to capital raisings at boards where he has served? How many share purchase plans has been involved in and how many placements without an SPP has he done over the years? What is his attitude towards including retail shareholders in capital raisings?
Answer: The chair let Stephen make a detailed response. It doesn't sound like he's ever done an SPP. Watch video of exchange via Twitter.
Q3. Similar to the question asked of Stephen, looking back at his record as a public company director, does Grant Davey believe that he has treated retail shareholders well and attempted to include them in capital raisings whenever possible? How many share purchase plans has Grant been involved in and how many placements without an SPP has he done over the years? Has he ever done a pro-rata capital raising, as that is the fairest way to raise capital?
Answer: The chair doesn't sound like a champion for retail inclusion as he kept saying we can bid into the placement pool. Less than 20 of their 2,196 shareholders would be officially “sophisticated” and eligible to do that. Watch video of exchange via Twitter. CEO Phil Hoskins also weighed in with the usual arguments. Watch this video of his contribution.
Q4. By requesting this additional 10% placement capacity, you're signaling a desire to have the option of placing up to 25% of our shares to anyone you like, by-passing your existing 2,196 shareholders. Will you undertake not to request this again at the 2027 AGM and if doing another selective placement over the next 12 months, will you undertake to offer all shareholders a chance to participate on the same terms as the "sophisticated" placement recipients through a share purchase plan?
Answer: After getting the two local Atomic Eagle directors up for election to summarise their history of retail shareholder treatment in capital raising, finished the influencing exercise with this request. Chair Grant Davey didn't provide a lot of hope in this response but they're certainly aware of the issue. Watch video of exchange via Twitter.
Q5. The earlier remuneration report question was answered in a way that suggested there were no protest votes on any of the resolutions. In actual fact, the biggest against vote was on chair Grant Davey's election. What was the issue? Is it an independence question. Does the chair know which shareholders opposed him and why?
Answer: No one at aspiring Zambia uranium miner Atomic Eagle has any interest in understanding why there was a 13% vote against the election of new chair Grant Davey. The proxies should have been disclosed earlier as had to circle back to this issue at the end. Watch video of exchange via Twitter.
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