13 questions asked at 2022 Advanced Share Registries AGM
January 18, 2023
Here is the text of the 13 written questions asked at the 2022 Advanced Share Registries virtual AGM held on November 18. No AGM webcast initially provided so emailed a request on January 16, 2023 and got this link to the 49 minute meeting two days later.
1. We are the only small listed share registry company. Have the big players Computershare and Link ever tried to buy us?
2. A lot of our clients are based in Perth and don't offer hybrid AGMs. Have we tried to encourage more of them to give east coast shareholders access to their AGMs through online platforms.
3. Is it easy offering our clients live online voting at AGMs and what is our view about whether the law is likely to change or should be changed to encourage more direct online voting on the day.
4. Is voting a secret ballot with our clients or do we routinely tell clients who has voted for and against at public company AGMs. How does privacy work in Australia with voting by shareholders?
Answer: the company is routinely provided access to detail on which shareholders have voted and how they have voted. They have full access to this data? Watch video of answer via Twitter.
5. What do we think of the restrictive laws in terms of public access to share registers of public companies in Australia. What is our set up if someone asks to come in and inspect a share registry of a client. Could they do that in Melbourne or Sydney or would it only be possible in Perth?
6. Shouldn't our SRN or HIN be used to access this AGM rather than sending out meeting specific codes? I had to scramble to find the paper notice of meeting today rather than just entering the HIN number like with more online AGMs.
Answer: just using the SRN or HIN is less secure than sending shareholders a special access code.
7. Some people are allowing clients to access the SPP system, allowing clients to buy 1 share in a company. Some people own fractions of a share. What is that like to deal with at your end?
8. Given the interesting discussions across a range of topics today, could the chair undertake to make an archived copy of the webcast plus a full transcript of proceedings available on the company's website? The likes of Nine, AGL, ASX, ANZ, Domino's and Lend Lease all produced their 1st AGM transcripts in 2021. Will you follow suit today? This is something IAG has been doing since 2003.
9. Is there a risk that Canberra might legislate for the AEC to run contested corporate elections, like they do with union elections. Should directors facing a board challenge be in charge of the election process, including seeing how shareholders have voted?
10. When disclosing the outcome of voting on all resolutions today, could you please advise the ASX 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 adopted by the likes of Metcash, Altium and Dexus last year and Webjet and Tabcorp so far this AGM season. As a share registry provider, how easy is this data to access?
11. Quite a few companies are disclosing the proxy position to the ASX with the formal addresses. How early could we deliver this data to a company after proxy voting closes 48 hours before the meeting. Could an announcement be made the day before the AGM?
12. What do we think about the ASX abandoning its CHESS replacement process?
Answer: can't say much but hope they will go back to the drawing board - watch video via Twitter.
13. When clients dial into the online system to see the daily proxy votes, can you they also see which shareholders have voted for and against?
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