today's agm

I attended today's AGM and was generally impressed by the chairman and MD's addresses, confirming my view that our money is safe with these blokes.

I was also pleased to see that the Australian Shareholders' Association had sent along a representative to press the board on what they see as Rob Millner's excessive board commitments - namely 6 chairmanships and 2 other directorships.

I asked Millner whether the board would consider a merger with CHO, given that CHO is trading at a discount of ~10% to NTA, and that a merger would allow both companies to reduce their management expenses and thus improve returns for shareholders. He said that although this has been discussed in the past, the consensus from shareholders is that they prefer to have a choice between the companies as they have slightly different portfolios.

Personally I'd like to see the two companies merged to form a LIC with assets of around $2b. Anyone agree/disagree?