5 questions lodged at 2026 Region Group (RGN) hybrid AGM

Q1.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? Also, Steve Crane gave the best ever answer to a question like this last year with a clear factual summary of the LTI debate with Ownership Matters with none of the usual confidentiality arguments that some chairs put up. Well done for that and speak up again today.

Answer: Steve Crane said there were no protest votes this year. Watch video of exchange via Twitter.

Q2. Since joining the business, could Greg Chubb please comment on the biggest reporting, delegation, process and personnel changes that he has made. His predecessor abolished the property compendium disclosure on the grounds that it gave competitors too much information. If GPT, Dexus, Scentre Group, Vicinity, Mirvac and several other listed REITs do this, what is his view on bringing this back? Does chair Steve Crane agree with Steve Mayne that it wouldn't be too much of a pain to bring this back?

Answer: The rather dour question wrangled stripped out the self-indulgent poetry at the end, sadly. The CEO said Region Group is being more hands on with property management under his leadership, not just sitting back and letting Knight Frank do all the shopping centre management and grunt work. He made a good case for not bringing back the property compendium given their average centre is only worth $50m compared with sometimes billions for the companies I mentioned. Watch video of exchange via Twitter.

Q3. Could new director Guy Farrands and the chair comment on the recruitment process that led to his appointment to the board. Was a head hunter involved, did the full board interview any other candidates and did Guy know any of our directors or KMP before engaging with the recruitment process?

Answer: Another perfect answer from Region Group chair Steve Crane. Guy Farrands is a great hire for the board but they ran a proper competitive process with a recruiter. Started with 4 candidates then the full board interviewed two. No mates network deal like you still see in Perth. Watch video of exchange via Twitter.

Q4. I was disappointed with the former CEO's lack of interest in helping curb the illegal tobacco trade when commenting at last year's AGM. He said it was up to the various state health departments. How many dedicated tobacco shops not associated with a major retail chain do we have in our centres, how are things going with the insurers of these centres and what steps do we take to prevent illicit tobacco from being sold at our centres?

Answer: The chair Steve Crane at first sounded a bit disinterested but then new CEO Greg Chubb stepped up with some good detail. They've reduced tobacco stores from 70 to 60 over the past year and half of these are run Viva Energy, which is a legitimate ASX listed company. Watch video of exchange via Twitter, plus these additional comments by CEO Greg Chubb.

Q5. I'm from debt-laden Victoria where everyone complains about the highest land tax rates in Australia. How bad is it for us? Is it correct that our Victorian land tax bill is higher than the rest of Australia combined. Both sides of politics have promised land tax changes if they win next month's Victorian election. Is either side offering material relief to us?

Answer: CEO Greg Chubb explained that Victoria is the group's third most important state with 18% of its assets. He didn't sound hopeful in terms or any reform/relief. He did take the opportunity to rip into Victoria's foreign landholder surcharge which he said makes Victoria “uninvestable” for sovereign funds and the like. Watch video of exchange via Twitter.

Copyright © 2026 The Mayne Report. All rights reserved

• share
  Share
  • 
    Facebook
  • 
    Twitter
  • email
    Email
  • print
    Print
  • link
    Copy Link
  • cancel
    Cancel