Historically, that wasn’t the case, poll voting was introduced because the board were sick off
retail investors attacking their remuneration package.
They conned Treasury into believing that these plebs weren’t competent enough to assess how to
monitor the company and management performance.
Initially when poll voting was introduced, nominee’s, custodian and super companies generally stayed on
the sideline. They were satisfied with having the privilege of getting the ears of the board and management to listen to them.
Now, that they’ve become adversary to a company’s board and management, arrogantly ignoring
the wishes of the majority of holders.
The landscape has changed and the Corporation Act needs to be updated to accommodate the wishes
of the majority!
I like to see Super allowing me the rights to tell them how to vote, similar to what is afforded to Nominee’s
companies.
News: CGC Costa Group Says Shareholders Vote In Favour Of Scheme, page-4
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