Just completed my voting for the AGM and voted against Resolution 1 and 5. Few other shareholders I know will be voting against these resolutions in coming days.
FYI -
Yesterday OSL: Oncosil Medical Ltd at their AGM, 38.4 percent of votes were against the remuneration report, earning a first strike due to managing director performance shares.
Under the Corporation amendment (Improving accountability on Director and Executive Remuneration) ACT 2011 any company sustaining a vote of 25% or more against the remuneration report in two successive annual meetings is required to vote on a board spill and if passed the directors must stand for re-election.
In my opinion it would be great if Board review Executive remuneration, quantum and milestones of performance rights of Resolution 5 otherwise I am afraid Board might get the first strike this AGM.
Dear Shareholders,
Please use your votes wisely.
Good luck to all.
Just completed my voting for the AGM and voted against...
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