MFG magellan financial group limited

Ann: EGM - Results of Meeting, page-2

  1. 3,150 Posts.
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    These results are an absolute sham. Here is the result:
    https://hotcopper.com.au/data/attachments/4913/4913015-aa33304232b37794cd9a9724d11c38b3.jpg
    76,025,189 votes were cast - this is 41.85% of shareholders (assuming 181,639,883 current shares on issue).
    This means that of the 71,648,302 were voted in favour of the remuneration increase, this does not represent a majority of holders (it is the same percentage, 41.85% of all holdings voted in favour of the remuneration increase).

    Understand that this is the way the voting system works for companies, but it isn't a resounding approval of all shareholders either.

    Best of Luck
    Lost
 
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