AGL has been under sustained shareholder pressure to close its...

AGL has been under sustained shareholder pressure to close its remaining coal-fired power stations in the 2030s after a campaign by billionaire businessman Mike Cannon-Brookes, a major shareholder, forced a backdown on plans

My comments simply concentrates on the voting system in supposedly a listed Public company!

The general public would view, that in such an entity that the majority of shareholders would determine the future direction of AGL.
That isn’t the case, ur wealth gives u more dictatorial power on how a company should be run.

The media in many cases report that shareholder’s had voted in favour - falsely giving the impression that a majority of shareholders were in favour. When in fact it may involve only a small percentage to dictate the outcome.

As an example, from AGL 2022 annual report shareholders who hold less than 5000 shares 91.52% are owners of the company. These shareholders don’t have an affective say in AGL future direction…they basically simply go thru the motion of voting!

It appears that this business structure had historically started off, with voting based on the individual not based on the money inputted and has transitioned into a quasi-private company.

Yet these wealthy investors have the opportunity to dictate in other business entities that is based voting power on the amount that they invested.

It appears throughout decades politicians have been taking care of the big end of town wishes.

A listed public company has transitioned from one vote per shareholder and due to the adulterated Corporation Act, the wealthy shareholders have been given two types of benefits; the justifiable benefit of their financial input but the right to usurp other shareholders voting as individuals.