LL. thought that I would pass on this info regarding your last post.Unfortunately non of it is good news in relation to being able to do what you want to do.
1. Received this on 21 November and sent to Linc.
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Please see the below email from my stock broker.Who is correct you or him ??? Hi Peter, Apologies for the delay - I have had a response from Pershing regarding the AGM below. Please be advised that anyone could attend a meeting as a visitor in the Australian market. However, visitors cannot vote or ask questions to the board of directors at the meeting. If you wish to appoint a corporate representative to vote at the meeting, there is a fee of AUD500 per person. As the client will be voting on shares registered under custodian name, we require confirmation in your request or Service Center stating the underlying client is a person of reputable character and will act in a professional manner and will not or bring into disrepute the Custodian reputation at the meeting. Full details of client who will be attending the meeting and confirmation of the amount of shares and voting intentions to be included. So, because the clients holdings are held under custody and are technically not in the clients name at the central depository in Singapore (CDP), the client will be voting on xxx,xxx shares on behalf of the custodian with the client being the beneficial owner. I will have appoint Mr Smith a corporate representative of Pershing LLC who then has the right to vote on his 192,350 shares but of course at this cost of 500 AUD. Please advise if the client is happy to pay this amount and therefore become a Corporate representative to be able to Vote at the meeting? Will try and discuss this afternoon.
Thank you for the email you submitted via the Linc Energy website.
It appears that your shares are held via a custodian rather than being held directly in your name on our register. This means that your shareholding does not appear individually on our share register – instead it may be held with any number of shareholdings that are also managed by the same custodian under one or more holdings on our register.
Linc Energy does not have any visibility to your holding when it is being managed by a custodian in this manner. The Company sends notice about the AGM and information required for voting to the Custodian and they distribute accordingly to their clients.
Each custodian has different arrangements for passing on voting rights to beneficial holders, such as yourself and unfortunately Linc Energy does not have any input or control in this process.
If you are not satisfied with the voting arrangements supplied by your custodian, one way to avoid this in future would be to open a CDP account in your name and transfer your shares to this account. I have attached information on how to do this, if this is of any interest to you.
If you have any further queries regarding your shareholding please feel free to contact me.
Kind regards,
It may also interest you to know that the biggest majority of custodian holders use PERSHING There is no way in the world that I am Paying $500.00 to be able to vote for my own shares.
Hope this helps. Retep.
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LNC Price at posting:
99.5¢ Sentiment: Hold Disclosure: Held
