5 questions lodged at 2026 Amotiv (AOV) hybrid AGM

3 questions asked up front when dealing with the accounts

Q1. The proxy advisory firm Ownership Matters conducted a study on audit tenure earlier this year which found that Key Audit Matters listed in the annual report are most likely to change after a change of audit firm and are least likely to change when the same auditor signs the accounts. We voted to switch from KPMG to Deloitte at last year's AGM but KPMG still signed off on this year's accounts. Could out-going KPMG audit signing partner Maritza Araneda comment on the approach she took to key audit matters this year in her final year as auditor? Did the audit committee or management make any suggestions on potential changes to key audit matters?

Answer: No surprise that Maritza didn't make any KAM changes in her final year but she gave a good summary. Chair James Fazzino was effusive in his praise of KPMG and Deloitte. Watch video of exchange via Twitter.

Q2. The AFR's Street Talk column reported on August 19 that we were being accused of unfairly cancelling a customer contract with a US business called Hi-Viz and were subsequently being sued. Street Talk provided up update at 8.36pm last night reporting that Hi-Viz founder Sam Massa had flown to Australia to confront us at today's meeting but didn't have his speaking rights sorted. Where have we landed with this issue? Did we reject his request for AGM access? Do we normally ban visitors from attending our AGMs and have we banned Mr Massa today? Is chair James Fazzino going to meet with him?

Answer: The chair said the AGM was only for shareholders but he was planning to meet Sam Massa later in the day. Watch video of exchange via Twitter. Also, see this earlier exchange with another online shareholder about Hi-Viz dispute.

Q3. On page 21 of the annual report, you state: “Poor quality products or non-compliance with product regulatory requirements could impact the Group's reputation and financial performance.” Is the board aware of any non-compliance with product regulatory requirements, particularly products being imported and supplied in to North America, including to HiViz and its First Responder customers?

Answer: Amotiv chair James Fazzino played down any suggestion it has been supplying non-compliant lighting products to US first responders, saying it was a general risk and there was nothing material on foot. Watch video of exchange via Twitter.

Remuneration report question

Q4. Thank you for once again disclosing the proxies early with the formal addresses and well done for achieving such strong voting support with a modest 4.2% against vote on this remuneration report being the largest protest vote. It was good that you followed the agenda and also offered a full hybrid, complete with live online voting via the excellent Computershare platform. As an additional disclosure measure could you please advise the ASX how many shareholders voted for and against each item, similar to with a scheme of arrangement? This will provide a better gauge of retail shareholder sentiment on all resolutions and insight into the chronically low retail shareholder participation rate. If you do this you'll join a small cohort of companies comprising Stockland, Suncorp, Myer, Computershare, Helia and Web Travel Group running best practice hybrid AGMs in every respect. James, your predecessor Graeme Billings rejected this head count request last year but even your share registry provider Computershare discloses the head count data at its AGMs. You've got the data, so why not let the sun shine in?

Answer: The question wrangler adopted speed reading mode for this one and at the end of it all, it was a no from chair James Fazzino on the question of head count voting disclosure. A shame.

General business at the end

Q5. On the 11 August results call, CEO Graeme Whickman described the HiViz matter as a commercial negotiation and said it was not material. Amotiv's termination of the Supply Agreement to HiViz became effective on 24 August and HiViz has placed no purchase orders since. Amotiv invoiced HiViz roughly $A27 million last fiscal year, close to half of the $A60 million US LP&E business, and on the published numbers that appears to account for substantially all of its growth. Chairman, could you please clarify how these sorts of numbers don't make the contract material? What is our definition of materiality and how close does this contract go to that definition?

Answer: Disappointed this final Amotiv question on the US dispute wasn't read out in general business at the end of the 69 minute meeting. Watch video of AGM wrapping up via Twitter.

Copyright © 2026 The Mayne Report. All rights reserved

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