5 questions lodged at 2026 Pacific Edge (PEB) hybrid AGM

Q1. Could new chair Simon Flood please comment on the biggest changes in board process, delegations, reporting lines or governance that he has implemented since taking over as chair in December last year. Could the CEO Peter Meintjes also comment as to whether Simon Flood is more or less hands on as a chair than his predecessor Chris Gallaher?

Answer: The chair said he asks lots of questions and outlined his engagement program with the CEO but offered no detail on changes to board practice. Watch video of exchange via Twitter, plus these comments by the CEO who declined to respond on the hands on component but provided a detailed outline of the chair induction program. This question normally draws a diplomatic “they are both great” answer from the CEO.

Q2. Are we getting good value from being dual-listed paying listing fees to both the ASX and NZSX? What is the split between Australia, New Zealand and the rest of the world in terms of our share register by both shares and shareholders? Also, thank you for offering a best practice hybrid AGM today and could you please publish a full copy of the AGM webcast on your website, not just the presentation slides as has occurred in the past?

Answer: The question wrangler said the the webcast would be published on Youtube like in previous years and 90%+ of the shareholders and shares are held by NZ-based investors. The chair stressed how cost conscious he is but for now said they would persist with the ASX listing as they intend to grow into a global company. Watch video of exchange via Twitter.

Q3. PwC has been our auditor for more than a decade. Whilst 5 yearly partner rotation is required under Australian and New Zealand law, there is no mandatory tendering after 10 years as now occurs in the UK. When did we last tender the external audit and when are we next likely to run a competitive tender for the job?

Answer: The CFO took this one and it sounds like Pacific Edge's external auditor PWC has not been subjected to a competitive tender during its decade-plus run as auditor, but that might be about to change under new chair Simon Flood who undertook to raise this through the audit committee. Watch video of exchange via Twitter.

Q4. If we're having a special resolution just to approve a small payment to new chair Simon Flood, will the chair undertake to lead a board discussion on whether Pacific Edge should voluntarily follow the law in Australia, where we are dual listed, and put the remuneration report up for a non-binding vote at next year's AGM? The likes of Fletcher Building and Xero already voluntarily do this and it is standard practice in the English speaking world, making New Zealand look like a governance backwater by not adopting this measure.

Answer: The chair Simon Flood said he was open to this, which is far more positive than most Kiwi chairs when they asked to embrace remuneration report voting. Watch video of exchange via Twitter.

Q5. Our shares have almost tripled since July 2025 when we did a $NZ16m placement at NZ10c with a following $NZ5m SPP, which brought in $4.7m. The pricing at the time was a 22% premium to the previous close of NZ8.2c and the stock is now at A23c. Well done for the great performance. With the benefit of hindsight, shouldn't this have been a pro-rata offer to minimise dilution of existing holders? If we raise capital again, will the chair undertake to do a pro-rata raising which treats all shareholders equally and doesn't need shareholder approval like this resolution?

Answer: The acting chair (the chair had a conflict as a participant) defended past raises stressing that the last two placements both had an SPP element, although the second one excluded Australian investors. Fellow director Anatole Masfen, who chairs the capital committee, also weighed in saying that pro-rata raises are difficult to under-write in New Zealand. Watch video of exchange via Twitter, plus these additional detailed comments by capital committee chair Anatole Masfen.

Copyright © 2026 The Mayne Report. All rights reserved

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