It is misleading, to report to the general public that 64% of shareholders voted against the remuneration resolution by the news media. They even keep using this comment by the professional on 'Your Money' TV programme.
When in effect, - even if we assumed that 100% voted against the remuneration resolution - it would be more then likely, to be approx around the 5% figure of eligible shareholders who voted.
If people doubt the percentage that I mentioned, pls get into contact with ComputerShare or LinkMarket research dept.
So out of approx 620,000 shareholders it would be only be about 32,000 who bothered to vote.
At least WBC has at least about 50% each Institutional and Retail investors, which is quite rare amongst ASX companies.
It is unlikely that the retail investors had any influence on the outcomes but their cohorts in the top 20 who got upset with them.
The reason for the apathy by the retail investors is due to dominance of the top 20 voting and privileged position of
the Corporation Act.
The abuse by of this group's irrational behaviour would be mitigated if the poll voting value of the Top 20 was devalued to a certain percentage.
Trump would’ve called the presentation by the media as 'Fake News'.
Radicool Views
WBC Price at posting:
$24.88 Sentiment: Hold Disclosure: Held
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