9 questions asked at 2022 Healthia AGM

January 1, 2023

Here is the text of the 9 questions asked at the 2022 Healthia hybrid AGM held on November 29 in Brisbane. No sign of any webcast archive so don't know what the answers were.

1. Thank you for disclosing the proxies to the ASX along with the formal addresses. Do any of the 5 main proxy advisers - ACSI, Ownership Matters, Glass Lewis, ISS and ASA -cover us and did any of them recommend a vote against any of today's resolutions? If so, what reasons were given and do these recommendations explain the double digit protest votes against 5 resolutions today. When dealing with each resolution today, please comment on what response is planned to any double digit protest votes?

2. Given the interesting discussions across a range of topics today, including this constitutional amendment, 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.

3. Could the CEO summarise his past LTI grants as to whether they have vested or lapsed. Also, has he ever sold any ordinary shares in the company or bought any on market without relying on an incentive scheme to build his equity position in the company? Please don't say look it up in the annual report and through ASX announcements. It's complicated over many years and the CEO could factually summarise the situation in 60 seconds.

4. Thank you for offering shareholders a hybrid AGM this year and will you commit to keep doing this in future years to maximise shareholder participation, even with constitutional approval to go fully virtual. What was the hybrid AGM experience like from your end?

5. One of the Wilson Asset Management AGMs is due to start at 1pm in Sydney. What have they been like to have as our largest shareholder and what is the history of this investment. Similarly, Moelis Australia is a very unusual substantial shareholder to have. What is the history of their shareholding in Healthia and MA Financial Group committed for the long term?

6. The 20% protest vote against two of the directors today are presumably driven by their lack of independence. Why don't we move to a more conventional model of having a clear majority of independent directors? Corporate voting in Australia is not a secret ballot. You should know who voted and whether they voted for or against. Are either Wilson or MA Financial Group, which together own 12% of our company, causing any trouble today voting against resolutions?

7. Do we really need to have 8 different remuneration resolutions today? Is the same likely to happen next year and wouldn't this be reduced if we had less executive directors on the board?

8. When disclosing the outcome of voting on all resolutions today, including this partial takeovers resolution, 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.

9. Well done for inviting retail shareholders the ability to apply for unlimited amounts of additional shares in the recent $11 million pro-rata entitlement offer. Whose idea was this given that the majority of issues pre-limit the amount of additional stock shareholders can apply for. The stock has subsequently tumbled to well below the $1.52 offer price. Have we had any negative feed back from investors about this?

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9 questions asked at 2022 Healthia AGM

January 1, 2023

Here is the text of the 9 questions asked at the 2022 Healthia hybrid AGM held on November 29 in Brisbane. No sign of any webcast archive so don't know what the answers were.