Tokenism Voter, page-6

I can see why the majority of shareholders don’t bother to vote at all because of the poll voting system ensures control is in the hands of the big end of town.

Shareholders, with holding =>100,000, consist of only 0.23% of all eligible voters hold 80% of the shares.

If all the remaining shareholders (172,343) voted against the remuneration report it would still pass.
That also means that the 'Two Strike" rule would be ignored because you wouldn’t get to 25% even when a clear majority of shareholders were against the remuneration package.

You need to have the assistance of at least one of their compatriots to get upset and join the masses.

What I’ve observed was this is the classic situation in many companies that I hold shares in - just a futile voter going through the motion of voting.

From discussions with Computershare and Link Market, only 4 - 5% of Australian shareholders bother to vote at all.

I’m not interested in having the privileges and influences of having direct contact with the CEO or MD like the big end of town.

The only area that I would like to influence is by not being swamped by an unethical voting system, is on the remuneration package and granting of equities.

The only way to achieve this, is to make these resolutions a 1 vote per shareholder. The management team are treating the majority of shareholders with contempt as bunch of incompetent group who can’t assess their true worth.

Radicool Views