6 questions lodged at 2024 Bluebet hybrid AGM
November 28, 2024
Below is the text of the 6 written questions submitted at the 33 minute Bluebet hybrid AGM held on November 28 2024, plus a summary of the answers and some video grabs via Twitter. The proxies weren't disclosed early, there were no protest votes and only 1 other online question asking about dividends.
Q1. How active have we been in the campaign to persuade the Albanese Government not to implement the full gambling advertising ban as recommended by the cross-party Murphy inquiry. If a full tobacco-style advertising ban did come in, would this be a major problem for our business. Which of our competitors would be placed to prosper if a full ad ban came in? Tabcorp seems to support the ad ban? Is this because they have a retail monopoly in most states?
Answer: The CEO was very confident there won't be a full ban. Watch video of exchange via Twitter, plus these additional comments.
Q2. How tough a regulator is the Northern Territory Government and how much do we pay for our national licence each year. Is it a perpetual license or, if not, when will it next be renewed and re-issued. Having secured an NT licence, would we support a moratorium on new licences as a gambling reform measure given that both major political parties in the NT seem to issue gambling licences like confetti to any tiny new start up which comes along? Would it make sense for the Federal Government to fund a Northern Territory gambling licence buyback program to reduce the number of players deluging Australians with gambling ads?
Answer: The CEO gave a detailed response. Watch video of exchange via Twitter, plus these additional comments.
Q3. Why didn't you include the proxy position with the formal addresses lodged with the ASX when this is best practice to allow for a more fully informed AGM debate. Will you do this next year and have there been any material protest votes on any resolutions. If so, what was the issue? Corporate voting is not a secret ballot so you should know what is going on with voting.
Answer: The question was edited down by Laura but there were no protest votes.
Q4. Could incoming chair Matt Tripp please comment on the biggest changes in board process, delegations, reporting lines or governance that he plans to implement once taking over as chair next year. Also, how much of his time will Matt put into the chairing role?
Answer: Without being invited to speak by the chair, Matt Tripp provided a brief answer saying he'd be a full time chair and any changes would be announced to all shareholders. Watch video of exchange via Twitter.
Q5. Resolution 6, 10% expansion in placement capacity: 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 are we asking for this authority and has there been a substantial protest vote against this resolution? If raising capital going forward, please do a pro-rata renounceable which treats all shareholders equally.
Answer: The CEO pointed out that an earlier EGM approving a placement had been strongly supported. Watch video of exchange via Twitter.
Q6. Could new director Tim Hughes and the chair comment on the recruitment process that led to his appointment to the board. Was a head hunter involved, did the full board interview Tim and did they interview any other candidates? Did Tim know any of our directors before engaging with the recruitment process?
Answer: The chair explained that he was known to Tim Worner, himself and Nigel. Watch video of exchange via Twitter.
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