6 questions asked at 2024 Trajan hybrid AGM
October 29, 2024
Below is the text of the 6 written questions submitted at the 2024 Trajan virtual AGM held on October 29.
Q1. Which 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, including this rem report? Also, thank you for disclosing the proxies to the ASX along with the formal addresses and when disclosing the poll results, could you please include the data in terms of how many shareholders voted for and against each item. Computershare has this data and this was a disclosure initiative done by Suncorp, Tabcorp, Qantas and the ASX itself over the past week.
Answer: The chair Watch video of exchange via Twitter.
Q2. Will the founder and the chair commit to holding a hybrid AGM next year so that shareholders can visit the company headquarters in Ringwood and meet the directors personally. Why are we based in the City of Maroondah in Melbourne's eastern suburbs when no other ASX300 companies choose to do this and have we thought about opening a Melbourne CBD head office?
Answer: The chair Watch video of exchange via Twitter.
Q3. It is not good practice to issue options to NEDs. Why are we doing this?
Answer: The chair Watch video of exchange via Twitter.
Q4. Australia is currently in the midst of an unprecedented deluge of takeovers that has contributed to listed entities on the ASX falling by 170 or 7.4% to 2,124 since June 2022, including 20 straight months of declines. There have already been 27 major takeovers above $200m completed so far this calendar year with another 10 deals announced and in the works. The ASX is losing long standing names such as CSR, Boral, Blackmores, Newcrest and Crown which have all disappeared over the past 3 years. There is a clear mis-pricing between public markets and private markets. Why are public markets not valuing ASX listed companies like ours more highly and what are we doing to avoid being gobbled up like so many other companies. Does the chair agree this is a problem for the nation, particularly with so few new floats replenishing the ASX ranks? And what does the founder think about potentially selling our company if a compelling takeover offer was made and who are the obvious multinational buyers?
Answer: The chair Watch video of exchange via Twitter.
Q5. Given the interesting discussions across a range of topics today, including this proposed options grant to Sara Watts, 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, IAG, Lendlease and Woolworths all routinely produce transcripts. Will you follow suit today?
Answer: The chair Watch video of exchange via Twitter.
Q6. Given the interesting discussions across a range of topics today, including this proposed options grant to Sara Watts, 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, IAG, Lendlease and Woolworths all routinely produce transcripts. Will you follow suit today?
Answer: The chair Watch video of exchange via Twitter.
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