3 questions lodged at 2026 EBOS (EBO) hybrid AGM
October 26, 2026
Below is the text of the 3 written questions submitted at the 70 minute EBOS (EBO) 2pm NZ time hybrid in Auckland and via the Computershare platform on October 21, 2026. See notice of meeting detailing just 2 voting resolutions. Market cap $3.39b on AGM day. The proxies were not disclosed early in the formal addresses. There were no protest votes, but dreadful question censorship.
Q1. Nothing much happens at Kiwi AGMs. Apart from the standard auditor remuneration resolution, today we've gathered to vote on a single resolution - the re-election of Singapore-based director Julie Tay. In 2019, ASX-listed Treasury Wine Estates voluntarily moved to annual elections for directors in line with best practice that occurs in both the US and the UK. Dual listed companies like News Corp and Rio Tinto all do this due to the laws in the US and UK and BHP has continued doing it even after its UK dual listing ended in 2021. Can the chair and candidate Julie Tay comment on whether our company should or could follow this TWE and BHP lead and move to annual elections of directors at next year's AGM? At least that would make our thin AGM agendas a bit more interesting.
Answer: The chair Elizabeth Coutts read this lengthy question herself in full and then quickly dismissed it as an idea. Julie Tay declined to respond. Watch video of exchange via Twitter, plus see this coverage of the issue in Kiwi web publication Business Desk.
Q2. New Zealand is becoming a governance backwater as it continues to resist mandating annual voting on remuneration reports, which is standard in many countries around the world. Will EBOS voluntarily put up a remuneration report resolution for an advisory vote at next year's AGM? This is the law in Australia and we are dual listed on the ASX, so why don't we step up and respect shareholders by adopting Australian market practice. Have any of our Australian-based institutional investors requested that we do this?
Answer: The chair refused to read out the last 2 questions at the end of general business, claiming there were no more online questions. I was the only person lobbing online questions and she read the first one no problems. Watch video evidence of the censorship via Twitter.
Q3. I'll be attending the Sigma Healthcare AGM in Melbourne this afternoon. The owner of Chemist Warehouse now has a market capitalisation of $A32.7b whereas we are only worth $A3.39 billion. Why is our biggest Australian competitor almost 10 times more valuable than us? What have they got that we don't? Have we tried poaching any of their key executives to learn more about why they dominate all of their competitors, including us?
Answer: The chair refused to read out the last 2 questions at the end of general business, claiming there were no more online questions. I was the only person lobbing online questions and she read the first one no problems. Watch video evidence of the censorship via Twitter.
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