How to Vote Information, page-67

  1. 7,272 Posts.
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    I had a quick look at conditions of Australian Super Member Direct Investment.

    Voting at AGMs/EGMs is not an available option through Member Direct Investment option.
    ~ Australian Super retains voting rights for shares held in Member Direct portfolio but does not vote on any resolutions on behalf of these holdings.

    The following is an opinion only:
    The upcoming meeting is not classed as either an Annual General Meeting (AGM) nor an Extraordinary General Meeting (EGM)
    Example:

    There is a paragraph on Corporate Actions, described as an action taken by a publicly listed company relating to its securities.
    It is further broken down to "elective" and "mandatory" corporate actions.
    ~ When a listed security you hold through the Member Direct investment option is affected by an elective corporate action, Australian Super allows you to make an election in relation to that action.

    It depends on how they view/deem and/or make a ruling on the action taken under the Corporations Act (s249D) would be.
    ~ but I would argue that it is an "elective" corporate action smile.png but I do like to disagree with the establishment and/or rule makers.
    If you aren't given the ability to cast your vote, I would certainly make enquiries to ensure that the custodian holding the FFX shares on behalf of Australian Super do NOT vote your holding.
    ~ the above mentioning of custodian voting is based on a total lack of knowledge on how or what voting abilities custodians have and/or exercise.

    They have given only a couple of example of supported corporate actions being "share buy backs" and "share purchase plans"

    If you haven't already, their contact number is 1300 300 Monday - Friday 8.00am - 8pm AEST/AEDT
    https://www.australiansuper.com/-/media/australian-super/files/tools-and-advice/forms-and-fact-sheets/superannuation/guides/member-direct-guide.pdf

    cheers




 
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