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Voluntary changes to AGM presentations, page-2

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06/12/17

11:14

Post #: 29412206
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Originally posted by Radicool ↑

I have been attending a few AGMs over the last 3 years and feel there needs to be voluntary changes implemented by the board and management for a truer statistical representations of the majority shareholders voting intentions .
My initial impression of AGMs is that they are run in a manipulative manner to influence the vote’s of attendees.

I have previously asked the CEO and the company secretary to hopefully implement into this year meeting. One of the suggestion was not to display the result until the attendees had voted on each resolution.

We have had success with Suncorp chairman asking people to vote prior to displaying the result. Unfortunately, Link Market hasn’t caught up with electronic voting and I observed some attendees behaving like cheating school kids and voting after the resolution was displayed. At least this is a step in the right direction.

Not showing the results, prior to voting, especially on the remuneration resolution could be critical.
Especially, if 1 or 2 off the top 20 shareholders throw tantrums against the management team and with the aid off the attendees at the AGM push the votes over 25%.

It would also be unfair to the management team if the retail shareholders viewed the results on this issue, and see the opportunity of just getting the feelings off getting the message across to the board freedom off writing cheques to a value off their misguided self worth.

Now, the following stats from the Annual Report, does the following truely allow a say from the majority of shareholders on the remuneration resolution etc.
Out off 68,171 shareholders 75 shareholders with holdings over 100 thousands shares have about 80% of the voting power under the poll system of voting. Thus it is a farce for the board to claim that the majority of shareholders support the directions the board and management team are taking the company.

When you consider their justification for increasing their rewards is purely based on 0.53% of shareholders or owners off the company

I have some ideas how the board would get Validation of the result by voluntary adding another column to the stats.

Has anyone have similar feelings that changes need to be made for better transparency etc.

Or do the majority of attendees treat AGM’s as just an outing to get out off the house and are happy to act like fleas on an elephant back, contented with scrambling for the left overs.

Radicool Views

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Hi Radicool

I have just had a phone call from ?? to inquire about my voting intentions.

I never received the information for the meeting or proposals anyway but they are avail on the net, but 300 odd pages!!

I have held TTS for a number of years. and do not get involved in the day to day reports about them but I am surprised that there is extremely small amount of chatter /posting on HC regarding the takeover benefits or otherwise

IMHO it appears to be inevitable that someone would take it over/merge and directors always take/ recommend the option that suits their personal requirements first so why no chatter ??

Would like views on the choices

TTS Price at posting: $4.31 Sentiment: None Disclosure: Held
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