5 questions lodged at 2026 Regal Partners (RPL) hybrid AGM
May 28, 2026
Below is the text of the 5 written questions submitted at the 68 minute Regal Partners (RPL) 1pm hybrid in Sydney and via the Lumi platform with an emailed access number on May 28, 2026. See notice of meeting detailing 5 resolutions. Only protest last year 17% against director Sarah Dulhunty. Market cap $937m on AGM day. Own 41 shares. The proxies were not disclosed early in the formal addresses. See 9 questions lodged at 2023 AGM.
Stop hiding Phil King
Q1. Journalist Joe Aston recently observed that Phil King runs Regal but you wouldn't know it reading the annual report where his name is barely mentioned? Why is that? Is Phil just a natural backroom guy or does the board wish to minimise public recognition of his role? Please give our co-founder more prominence in next year's annual report to reflect the reality of the situation. A presentation to the AGM would be appreciated as well. Is Phil even in the room today?
Answer: Question wrangler Ingrid dehumanised Joe and I and edited down the question. Joe's work just become "media reports". Chair Michael Cole said Phil King is merely chief investment officer and has nothing to do with running the public company. He didn't turn up at the AGM. Listen to audio of exchange via Twitter.
Q2. It would have been better if you'd disclosed the proxies to the ASX along with the formal addresses. Please do this next year to facilitate more fully informed AGM questions. Which proxy advisers covered us this year, did any recommend a vote against the remuneration report and, if so, what were the concerns and did this translate into a material against vote? Also, having mentioned the growth in our register to 6,600 shareholders, please include the head count data in the poll results disclosing how many of them voted for and against each item, including this rem report item which many retail shareholders tend to vote against. This transparency measure is something done by many public companies including Qantas, Myer, Tabcorp, ASX and Suncorp.
Answer: The chair Michael Cole... Listen to audio of exchange via Twitter.
Q3. Could out-going chair Michael Cole please summarise the chair succession process that led to the appointment of Peter Yates as the next Regal chair? Did he lead the process? Did we use a recruitment firm to assist with the process and how competitive was it? Did any of our existing directors or senior executives know Peter before the recruitment process commenced?
Answer: The chair Michael Cole... Listen to audio of exchange via Twitter.
General business questions at the end
Q4. I recently ran for the Vista Group board in New Zealand on a platform that it should offer shareholders an Australian-style remuneration report vote. The chair Susan Peterson claimed that she polled major shareholders and there was little or no support for remuneration report voting. Regal is the 4th largest Vista shareholder with 5.87%. Is it really the Regal house view that remuneration report voting is a waste of time? If not, will you pressure Vista to voluntarily offer a remuneration report at next year's AGM as a matter of good corporate governance and shareholder accountability?
Answer: The chair Michael Cole... Listen to audio of exchange via Twitter.
Q5. I'm currently asking questions at about 300 public company AGMs a year with the number 1 focus being fairer treatment of retail shareholders in capital raisings. I've noticed that Regal is a regular participant in selective discounted placements where retail shareholders are diluted because there is no follow on share purchase plan to facilitate their participation on the same terms. Is the board aware that this is occurring and does the chair have a view on whether it is fair for retail shareholders to be treated this way? Going forward, will Regal encourage issuers to include retail shareholders in capital raisings?
Answer: The chair Michael Cole... Listen to audio of exchange via Twitter.
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