Companies which lodged proxies with ASX ahead of AGM

November 21, 2024

Here is a rapidly growing list of more than 50 companies which have adopted the best practice of lodging the proxy position with the ASX along with the formal addresses before the AGM/EGM commences. It doesn't cruel debate at the AGM because it doesn't have to be announced to the AGM before the debate commences, if that's what chairs are worried about. Otherwise, it allows for a fully informed debate on any big protest votes whilst providing more timely data to the market and all stakeholders, including institutional investors and proxy advisers. Sometimes this data can be market sensitive, so arguably directors should release it as soon as possible after the proxy voting deadline closes 48 hours before the meeting.

4DXMedical (4DX): 10am physical meeting in Carlton. See notice of meeting. Market cap $236m. Disclosed proxies early and big protests across the board.

Adairs (ADH): see how the retailer did it at the 2023 AGM in these formal addresses. Have been doing it for years as seen in 2020 and in 2016 at their first AGM after the IPO.

Afterpay: started on November 17, 2020 and kept it up until taken over.

AMA Group (AMA): Australia's biggest smash repair company did this in 2023. See formal addresses.

ARN Media (A1N): see example from May 5, 2022

Australian Finance Group (AFG): the Perth-based company is chaired by Greg Medcraft, a former ASIC chair. It disclosed the proxies early in these formal addresses ahead of its latest AGM held on November 24, 2023. If even he is getting with the program and disclosing the proxy votes early then everyone should do it.

Australian Vintage: the listed wine company disclosed the proxies early in this announcement ahead of its 2023 AGM.

Auswide Bank (ABA): The Bundaberg-based Bank got with the program in 2023 after a request at the 2022 AGM. See formal addresses slide pack. They did it again in 2024.

Brambles (BXB): Started way back in 2004 at the end of this world record of 149 pages of AGM presentation slides. See example from 2022.

Carsales (CAR): commenced in 2022 after director engagement with a separate announcement from the formal presentations before the October 28 AGM, something which hasn't happened before.

Chalice Mining (CHN): did it for the first time in 2022 when it revealed strong support on all resolutions at the AGM held on November 23.

Charter Hall (CHC): 2.30pm physical meeting in Sydney on November 20, 2024. Disclosed proxies early in David Clarke's last AGM and not for the first time.

Computershare (CPU): 10am hybrid at Melbourne HQ on November 14, 2024. Hit best practice with early disclosure of the proxies for the first time and both metrics in these voting results.

Downer (DOW): 11am physical meeting at Crows Nest in Sydney on November 20, 2024. See notice of meeting. Disclosed proxies early and no protest votes.

Droneshield (DRO): started on April 26, 2022.

Eagers Automotive (APE): did it for the first at the AGM held on May 19, 2022 and kept delivering as can seen in this 2024 slide pack.

Elders (ELD): produced arguably the most comprehensive pre-AGM voting disclosure that we've seen in 2023 which included the outcomes by shares and shareholders. This was even more surprising given two pay resolutions were defeated, which is normally the sort of news you try to hide. They hadn't done it previously. Ian Wilton has been chair since 2019.

Engenco (EGN): 10am hybrid in Melbourne on November 20, 2024. See notice of meeting. Market cap $57m. Disclosed proxies early and no protest votes.

Flight Centre (FLT): started way back in 2011 and see example from 2022.

Frontier Digital Ventures (FDV): see example from May 17, 2022.

G8 Education (GEM): started with this effort in 2016 and see this example from April 27 2022 when they introduced shareholder numbers voting as well, something they did again in 2024 with both metrics. How good is this!

Generation Development (GDG): the financial services company has Olympic gold medalist swimmer Grant Hackett as CEO and released the proxies with these formal addresses in 2023. The market cap going into the 2024 AGM was just over $1 billion.

GQG Partners (GQG): see example from April 27 2022 (included bonus of shareholder numbers voting for and against) and did it again 2024, albeit only with the shares metric having stripped out the shareholder numbers.

Guzman Y Gomez (GYG): 2pm debut hybrid in Sydney on November 15, 2024. Made this separate announcement with the proxies 26 minutes before AGM.

IRESS (IRE): did it for the first time on May 4 2023 after a direct request to chairman Roger Sharp but then failed to backed it up in 2024.

JB Hi Fi (JBH): started very early in 2007 and see 2022 example.

Jupiter Mines (JMS): 37 slides including early disclosure of proxies at the 2023 AGM, so well done. Market cap: $333m.

Kathmandu (KMD): was out early with the proxies in 2024 and the biggest protest was 5.5% against chair David Kirk.

Kelly Partners (KPG): virtual meeting in Sydney at 9.30am on November 20 2024. See notice of meeting. Market cap $395m. Disclosed proxies early in these formals and no protest votes.

Kogan (KGN): held their first hybrid AGM in 2022 and disclosed the proxies early even though there were some substantial protest votes.

Lark Distilling (LRK): 10am hybrid in Sydney via Zoom on November 20, 2024. See notice of meeting . Market cap $119m. No early proxies and placement capacity and partial takeover resolutions both defeated in 2023, but they turned it around with early proxies and no protests in 2024.

LGI Ltd (LGI): 11am virtual meeting Brisbane time for renewable energy company chaired by Boral CEO Vik Bansal. See notice of meeting. Market cap $278m. Proxies disclosed early in slide pack and no protest votes. Was only shareholder asking questions. See package on 5 questions submitted.

Macmahon Holdings (MAH): see this example of how the Perth-based and Indonesian controlled contract miner did it in 2022.

Mayne Pharma (MYX): started with this effort in 2022 under chair Frank Condella and then see these 42 slides in 2023 which also included early disclosure of the proxies.

# Mt Gibson Iron (MGX): 1.30pm hybrid in Perth on November 20, 2024. See notice of meeting. See Computershare link. Market cap $402m. Disclosed the proxy position early with only protest being 19.5% against director Paul Dougas.

Myer (MYR): commenced in 2022 under then chair Joanne Stephenson with this disclosure which included the bonus of voter numbers as well. Repeated the dose in 2023.

Monadelphous (MND): see example from pre-AGM presentation slides lodged with ASX on November 23, 2022. Did the same in 2023. The practice goes back many years such as this effort in 2015 and this one in 2008.

National Australia Bank (NAB): first did it on December 17, 2021, responding positively to a written request to chair Phil Chronican.

Netwealth (NWL): 9.30am physical meeting at Melbourne HQ on November 20 2024 with a one way Link webcast but no online voting or questions. See notice of meeting. Disclosed proxies early in formals showing 21% rem protest and 22% voted against CEO Matt Heine's LTI grant.

Nine Entertainment (NEC): held a 10am hybrid at its North Sydney HQ on November 6 2024 when new chair Catherine West came good with this early proxy disclosure even when the news wasn't great with a 37% rem strike and 17% against her own re-election. Well done on making the change, it led to a much more fully informed discussion at the meeting. See package on 6 questions lodged.

Origin Energy (ORG): first did it at the 2008 AGM held on October 15 so has now done it 16 straight times, which is best in market. See latest effort in 2024 when, on another front, they regressed to a physical AGM with no online participation.

Pacific Smiles (PSQ): 4.30pm hybrid in Sydney on November 20, 2024. See notice of meeting. Proxies disclosed early and see results where the protests soared as dueling private equity firms battle for control of $300m dental company.

Pepper Money (PPM): floated in 2021 and have been doing the right thing ever since. See example from April 28, 2022 plus the 2024 disclosure.

Plato Income Maximiser (PL8): the only LIC which pays monthly dividends. Disclosed the proxies early ahead of 2024 AGM. It has a market cap of $920m. A little odd not to say which item of business (ie rem report) attracted 9% protest vote.

Praemium (PPS): Well done to Praemium for disclosing the proxy position to the ASX ahead of its 11.30am hybrid AGM on November 22, 2023. See slides and votes.

OFX (OzForex), started in 2017 4 years after its 2013 IPO and have now done 6 in a row as can be seen by the 2024 effort.

Regis Healthcare (REG): floated in 2014 and first released proxies early ahead of 2022 AGM held on October 25.

Ridley Corp (RIC): the feedstock giant disclosed the proxies early in 2023 with these formal addresses. They did it again in 2024 with these formal addresses and also had no protest votes. Well done.

Seek (SEK): appeared to do it once by accident on November 21, 2011 but never again, despite requests.

Sims Group (SGM): see example from 2022 when all resolutions were well supported.

Slater & Gordon: first did it on November 18, 2021

Spheria Emerging Companies (SEC): market cap of $130m but still ran a dinosaur physical AGM in Sydney on November 19, 2024 but at least they got the proxies out early with these formals.

TPG Telecom (TPM): see example on May 3, 2022.

Tuas Ltd: spun out of TPG in 2020, the fourth mobile operator in Singapore has a market cap of about $600 million and disclosed proxy votes early at its 2022 virtual AGM.

Ventia Services Group: did it at their debut AGM on May 5, 2022 and kept it up in 2023 and 2024.

Viva Energy (VEA): started on July 6, 2020 and has continued ever since including this effort in 2024. The chair is former Defence Minister and Liberal senate leader Robert Hill.

WAM Capital (WAM): 10am hybrid on November 21 2024 in Sydney via Lumi platform. See notice of meeting. Market cap $1.79b. See package on 3 questions lodged. Rem strike avoided with the help of undirected chair proxies and great to get extra voting data.

Webjet (WEB): set a new benchmark when they released the proxy position to the ASX at 5.37pm on August 30, 2023, when the hybrid AGM started the next morning at 9am. This is a new best practice. The more notice you give investors, the better. Chair Roger Sharp backed this up with the same practice at Iress in May 2024.

Xero (XRO): disclosed the proxies early with the formal addresses at its 2023 AGM and the only protest vote was 15% against director Mark Cross. Floated in late 2012, didn't do it in 2013 but then commenced disclosing proxies early in 2014 and has now notched up a decade.

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Companies which lodged proxies with ASX ahead of AGM

November 21, 2024