AGMs

5 questions lodged at 2024 Southern Palladium hybrid AGM


November 28, 2024

Below is the text of the 5 written questions submitted at the Southern Palladium hybrid AGM held in Sydney on November 28, 2024.

Q1. How much do the JSE and ASX each charge us to be dual listed? If we were to ditch one of the listings to save money, which would make more sense to exit? Also, what is the broad ownership split between Australia, South Africa and the rest of the world?

Q2. It would have been better to disclose the proxy position to the ASX along with the formal addresses as many other companies now do. Have there been any material protest votes today on this remuneration report item or any other resolution? If so, please explain what the problem was and whether you plan to make any changes as a result.

Q3. There have been many substantial protest votes against resolutions like this during the current AGM season. It is not good practice to allow a board to selectively place up to 25% of the company's shares to anyone they like over a 12 month period, diluting the existing shareholders without compensation for their lost property rights. Why aren't you more focused on doing fairer pro rata renounceable capital raisings rather that asking for extra optionality to do over-sized selective placements to the big end of town that dilute retail shareholders. I've voted against and hope you don't ask me again for such a power?

Q4. Thank you for offering shareholders a hybrid AGM today. I couldn't find a copy of last year's AGM webcast on your website, but you do include the formal addresses that are available anyway on the ASX website. The voices of retail shareholders should not be suppressed. Out of respect for your nearly 1000 retail shareholders, more than 90% of whom won't be attending in Sydney or watching this AGM live, could you please undertake to publish a full copy of the AGM webcast on the investors relations section of your website. Even better, why not lodge a transcript of the AGM debate with the ASX seeing as you've already lodged the slides from today's CEO presentation.

Q5. The vast majority of ASX listed mining companies are head-quartered in Perth, home of the world's most sophisticated resources sector and a large South African population given that well known phenomenon in South Africa over the past 40 years called PFP or "Packing for Perth". In light of all this and our mining aspirations in South Africa, why on earth are we headquartered in Sydney and will we move our corporate office to Perth before next year's AGM?