Ann: 2018 AGM materials, page-5

Madamswer,

Greetings from inside the IFL AGM.

In fact I sat next to the lady who asked the first environmental risk question, the lady in question also quizzed the director up for re-election.
I spoke to the lady after the AGM. She is retired and has decided to champion the environment for her grandchildren. I asked her if she had done this elsewhere and the answer was yes. I asked her was she a political activist or from another organisation and she said she was a member of group advocating for the environment. The lady's 'ticket' into AGM was as a proxy holder. I gathered the lady also gained entry to other AGM's by being appointed a proxyholder.

The other gentleman who asked a question on environmental risk was also a proxy holder. As I departed the meeting the lady was in deep discussion with 3 other people in the lift well area. I suspect we are seeing environmental activists now gaining access to AGM's via appointment as a proxy so they can pressure boards on environmental risk management and more importantly investment decisions. Watch this space me thinks.

Yes it was business as usual with the Chairman being very forthright, I thought a pretty good performance from him given the circumstances of the last 6 months. It was nice of Chris Kelaher to greet shareholders as they entered the meeting and I received a nice warm firm handshake to boot.

The Chairman also confirmed that Chris Kelaher has put all of his future LTI at the mercy of TSR so if the share price fails to move he probably won't get a dime. Of course I am not privy to the starting point but I note the SP was $8.99 at 30th June 2018 which should be this year's LTI starting point so he is a long way behind.

I spoke to the CFO after the meeting on the ANZ acquisition and he was in no doubt as to the size and complexity of the task especially legacy system issues, much bigger than the Shadforth integration however he was licking his lips when talking about the financial upside.

I note from my Commsec screen that IFL has just gone green today. Giddy up!!

Cheers.......Daicosisgod