Poll results say more than just the numbers

The results of this AGM voting tell us where the s/h sit at the present time.

From the results of this voting it appears to me that the FMS board have the support of Todd, but do not have the support of the vast majority of the rest of the share register.

Clearly the non-Todd shareholders are extremely unhappy.

Whilst very few shareholders made the trip to Adelaide, they made their views very, very clear.

Total shares on issue : 2769m
Todd: 540m
OCJ: 401m
Board and assoc: 44m + others estimate = say 60m

Res 1: Remuneration Report
Todd and OCJ could vote - but not Board
FOR - 647m
Against - 695m

imho, a resounding wake-up for the Board.
of the 647m votes For, Todd's votes accounted for most at  540m

and that vote is after the board reduced fees and salaries by 20%. Amazing.


Res 2 : Election of Mr Vickery
For : 716m
Against: 685m

again, it was Todds votes got them over the line.
I think everyone except Mr Vickery could vote.
So this again is a resounding wake-up for the Board.
It seems to me that OCJ must have voted against - ie appears OCJ has similar views to all of us?

Res 3: Ratification of prior share issue (reinstates ability to issue a fresh 15% of shares without s/h approval)
I believe that Todd could not vote!
For: 560m
Against: 268m
So OCJ appear to have voted FOR this resolution.
Keep in mind it appears that OCJ is still a buyer of FMS shares on market.
So guess which 2 top s/h would probably subscribe for more cheap shares in FMS???