3 questions lodged at 2026 Strategic Energy Resources (SER) virtual EGM
August 24, 2026
Below is the text of the 3 written questions submitted at the 13 minute Strategic Energy Resources (SER) 1pm AEST virtual EGM via this Zoom link on August 24 2026 to approve 5 capital raising resolutions, including a share allocation to Anglo American. See notice of meeting. Market cap $9.4m on EGM day. The proxies were not disclosed early to the ASX but the poll results revealed it suffered protest votes on the two director placements at 27.4%. Was the only shareholder asking questions and managed to get 5 different company reps to contribute.
Q1. Why didn't you disclose the proxy position to the ASX before kick-off and have there been any material protest votes against any resolutions today, including this first resolution?
Answer: Chair Stuart Rechner gave a long and slightly tortured response on the disclosure delay, including that he'd received correspondence from shareholders not to disclose early, which is a little hard to believe. What the difference between disclosing them to the ASX 5 minutes before the meeting and disclosing them 10 minutes later during the meeting? He never actually dealt with the material proxy protest votes which were as high as 30% on the placement to the directors when they they couldn't vote their stock. The poll results had the protest votes on the two director placements at 27.4%. Watch video of exchange via Twitter.
Q2. Resolution 2 question: "Could Stuart Rechner and Daniel Loughnan please comment on whether they intend to take up their shares personally or nominate someone else to receive them as is allowed for in the wording being approved by shareholders. What investing vehicle are they intending to use?"
Answer: The acting chair David DeTata should have dealt with this question at the time. Watch video of the debate delaying tactics as all questions were handled after the 5 resolutions had been read out. That said, when question wrangler Mathew Watkins from Vistra did get to this question, the two directors both gave a detailed response. Watch video of exchange via Twitter.
Q3. Resolution 4 question: "why do we need to approve the SPP shares? You don't normally see this resolutions at EGMs. What would be the impact if shareholders voted this down?"
Answer: Whilst Link/MUFG runs the SER register, the $9.5m market cap outfit tried to save a few bob by going with Zoom at this EGM. However, the out-sourced Vistra co sec Mathew Watkins (a good question wrangler) had audio probs so his deputy Helen Lo had to step up and answer this SPP question for the chair, saying that approving the SPP shares gave them more future headroom to issue shares under ASX listing rule 7.1. Watch video of exchange via Twitter.
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