3 questions lodged at 2024 Vitura hybrid AGM

Q1. 10c is very low for a share price. Will the board consider putting up a share consolidation proposal at next year's AGM if the share price remains so low. We don't need 578 million shares on issue. Also, according to the annual report our 4 largest shareholders collectively own 56% of the business. Could the new chair please summarise who they are and what influence they have over the business, including through board representation. Which of them were pivotal in recruiting a big name like Robert to the chair role?

Answer: The new chair Robert Iervasi said they'd look at a share consolidation as event unfold. Watch video of exchange via Twitter.

Q2. We're a Gold Coast-base company in the medicinal cannabis game audited by a firm called Pilot Partners. This is different from many other ASX listed companies. Does Pilot Partners have a particular expertise in medicinal cannabis and which other ASX listed companies do they audit? When did we last tender the external audit job and when are we next like to tender it?

Answer: The chair handed to management who explained the history of how they moved from KMPG to Pilot Partners. Watch video of exchange via Twitter, plus these extra comments by auditor Chris King from Pilot Partners.

Q3. Well done for running a good hybrid AGM, including a video feed when some of the discussion was always going to be uncomfortable. Appreciate the candid responses to some of the questions as well. Also well done for following the agenda, rather than dealing with questions as one job lot. When disclosing the outcome of voting today, it would be helpful to include the data on how many shareholders voted for and against, like at a scheme meeting.

Answer: Not asked.

AGM summary


I stumbled into a very lively AGM not knowing the history as there had clearly been regime change with some ousted parties returning as part of a board overhaul that all the shareholder supported. Watch this video of Jess Jansen speaking from the floor including criticism of what she said was a 2 and half year campaign against her husband Dr Ben Jansen who, according to this report, is returning to the company as part of the board renewal. There were other questions from a former director and someone else who the chair also called Jess who said she was the former chief operating officer and wanted to know about assistance with block trade sell downs for major shareholders. Watch video of that exchange.

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