Radicool ..as they say in the classics.."it's only a rort if...

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02/11/17

15:49

Post #: 28444326
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Originally posted by Radicool ↑

I have been attending a few AGMs over the last 3 years and feel there needs to be voluntary changes implemented by the board and management for a truer statistical representations of the majority shareholders voting intentions .
My initial impression of AGMs is that they are run in a manipulative manner to influence the vote’s of attendees.

I and my colleague had discussions with the CEO and the company secretary to hopefully implement our suggestions into this year meeting. One of the suggestion was not to display the result until the attendees had voted on each resolution.

We had success with Suncorp chairman asking people to vote prior to displaying the result. Unfortunately, Link Market hasn’t caught up with electronic voting and I observed some attendees behaving like cheating school kids and voting after the resolution was displayed. At least this is a step in the right direction.

Now, the following stats from the Annual Report, does the following truely allow a say from the majority of shareholders on the remuneration resolution etc.

Out off 94,827 shareholders 75 shareholders with holdings over 100 thousands shares have 92% of the voting power under the poll system of voting. Thus it is a farce for the board to claim that the majority of shareholders support the directions the board and management team are taking the company.

I have some ideas how the board would get Validation of the result by voluntary adding another column to the stats.

Has anyone have similar feelings that changes need to be made for better transparency etc.

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Radicool ..as they say in the classics.."it's only a rort if your not in it"

BOQ Price at posting: $12.48 Sentiment: Hold Disclosure: Held
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