4 questions lodged at 2026 Conrad Asia Energy (CRD) hybrid AGM
June 17, 2026
Below is the text of the 4 written questions submitted at the 62 minute Conrad Asia Energy (CRD) 9.30am hybrid AGM in Singapore (11.30am AEST) and via this Lumi link on June 16, 2026. Bought on May 25, emailed request for control number the day before the meeting and they responded on the same day. See notice of meeting detailing 11 items of business. Market cap $93m on AGM day. The proxies were disclosed early in the formal addresses. There were 4 protests of around 20% against director share grants. Was the only shareholder asking questions. Lodged 7 questions at their 2025 AGM.
Q1. I bought into Conrad Asia Energy after you issued the notice of meeting and therefore had to email the company yesterday requesting a control number to access today's hybrid AGM, which your staff promptly provided. At next year's AGM, could you please just use a shareholder's HIN or SRN number to access the meeting, to avoid this extra step for those who buy in after the notice of meeting has been distributed. This is standard practice at AGMs run by Computershare and MUFG, the two largest share registry providers to ASX listed companies.
Answer: Not asked, despite lodging it twice.
Q2. Resolution 6: "Why do we continue to signal a preference for raising capital through selective placements, rather than doing pro-rata raisings which treat all shareholders equally and don't require any specific shareholder approvals, such as this one. Please focus on pro-rata raisings in future and don't ask for this extra 10% placement capacity at next year's AGM. Have there been any material proxy protest votes on this resolution? And if you do a future placement, will retail shareholders be offered an SPP?"
Answer: The chair Peter Botten offered the usual flexibility argument. Watch video of exchange via Twitter.
Q3. Resolution 7. "Thank you for disclosing the proxy votes to the ASX before the meeting commenced, allowing for a more fully informed debate. There were material protest votes of more than 20% of the directed proxies (excluding undirected proxy votes) against the 4 resolutions seeking incentive grants to various executives (wrong, it was actually cash payments in lieu of fees to the NEDs). Did a proxy adviser recommend against these grants and could the chair explain his understanding of who voted against and why?"
Answer: Conrad Asia Energy chair Peter Botten has no idea why there were 20%+ protest votes against the directors being partly paid with stock. Take an interest, son. Find out. It's not a secret ballot. Watch video of exchange via Twitter.
Q4. There is a big political campaign in Australia to introduce a gas export tax of 25%. What are the proposed tax arrangements on our Indonesian project and how do these compare with the current tax arrangements in Australia and the potential new tax arrangements in Australia if the political campaign prevails, as many observers believe it will?
Answer: The CEO said the Indonesian tax regime was quite good as the government actually wants to expand production. Watch video of exchange via Twitter, plus these additional comments by chair Peter Botten slamming the Australian gas industry for failing to counter-act the campaign.
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