3 questions lodged at 2026 Metcash AGM hybrid AGM
September 9, 2026
Below is the text of the 3 written questions submitted at the 83 minute Metcash (MTS) 1pm hybrid (questions not voting) AGM held on September 9, 2026 at Sydney's Wesley Centre and via the Lumi platform. See notice of meeting detailing 4 voting resolutions. Market cap was $3.24b on AGM day. The proxies were not disclosed early with these formal addresses. There were no protest votes. See 4 questions asked at 2025 AGM, 6 questions asked at 2024 AGM and 7 questions asked at 2021 AGM. Was the only shareholders asking questions online and there 4 floor questioners who added good value to the meeting.
Q1. Alan Kohler put up a series of graphs on the ABC news last night and then declared "everybody's miserable". Are we sensing a notable deterioration in consumer sentiment and what is our view on whether the perception that interest rates could rise again and house prices are falling is contributing the most to this declining business and consumer confidence? Based on what we see with inflationary pressures, would the chair be surprised if interest rates are lifted again in order to tame inflation?
Answer: The chair Peter Birtles said he had seen worse trading conditions, particularly when unemployment rates had risen. As a retailer, he hoped there were no more increases in interest rates. Watch video of exchange via Twitter.
Q2. Could new director Nicky Sparshott and the chair comment on the recruitment process that led to her appointment to the board? Which recruitment firm assisted with the process, did the full board interview any other candidates and did Nicky know any of our directors or KMP before engaging with the recruitment process?
Answer: The chair explained the process which was competitive and supported by an un-named but well regarded recruitment firm but there was no response provided on the prior connections component. Watch video of exchange via Twitter.
Q3. Which of the proxy advisers covered us this year and did any recommend a vote against any of today's resolutions, including this remuneration report item? If so, what reasons did they give and did this translate into any material protest votes? Please don't say they are confidential. It is standard for companies to be across this detail on the voting recommendations and inform shareholders where relevant. Also, I wouldn't need to ask this question if you disclosed the proxy votes earlier to the ASX along with the formal addresses. I've asked for this at multiple previous AGMs. Why don't you do it?
Answer: Peter Birtles disclosed the 4 main proxy advisers - ISS, Glass Lewis, Ownership Matters and ACSI - had recommended in favour of all resolutions. The rem report received 98.5% support but this wasn't disclosed until after shareholders in the room had voted electronically. He promised to look at early voting disclosure but this has been requested on multiple occasions previously so puzzled why they didn't do it, especially given such strong voting support. Watch video of exchange via Twitter.
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