6 questions asked at 2021 Freedom Foods AGM
November 22, 2021
Text of 6 questions asked at 2021 Freedom Foods AGM.
1. Could the independent directors comment on the oversight they are providing on the supply contracts between Freedom Foods and the Perich Family farms. Are these supply deals being regularly tested against market rates.
2. Treasury Wine Estates has voluntarily moved to annual elections for directors in line with best practice that occurs in both the US and the UK. Dual listed companies like News Corp, BHP and Rio Tinto all do this due to the laws in the US and UK. What does Timothy think about this idea and could the chair comment on whether Freedom Foods will consider following suit to lead by an example on governance by being more regularly accountable to shareholders.
3. Did any of the 5 main proxy advisers in the Australian market - ACSI, ASA, Ownership Matters, Glass Lewis and ISS - recommend a vote against any of today's resolutions? Which of the proxy advisers are covering us and has their been a material proxy protest vote against any of today's resolutions? Will you disclose the proxy votes before the debate on today's resolutions so shareholders can ask questions if there have been any protest votes?
4. When disclosing the outcome of all resolutions today, including this termination benefits proposal, will Stuart support the idea of publicly disclosing how many shareholders voted for and against each item, similar to what happens with a scheme of arrangement? This will provide a better gauge of retail shareholder sentiment on all resolutions and was a disclosure initiative recently adopted by Metcash and Southern Cross Media after their AGMs. What does the chair think of this idea?
5. Given the interesting discussions across a range of topics today, including this name change proposal, could the chair undertake to make an archived copy of the webcast plus a full transcript of proceedings available on the company's website. Nine Entertainment chairman Peter Costello, who appreciates the benefit of a parliamentary hansard transcript where MPs don't have to scroll through old videos to find out what was said, made this change last week & had a full transcript of Nine AGM online before the end of the day.
6. There are 8 different resolutions on the agenda today, on a range of issues. Why is the chair dealing with all questions as a job lot, rather than sequentially which is AGM best practice. Whose idea was it to try and make questions more difficult by just providing a single opportunity. Could the independent directors comment on whether a better AGM practice will be established at next year's AGM.
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