5 questions lodged at 2024 Live Verdure hybrid AGM

Q1. How long does it take to get these financial statements prepared and audited? Now that we're becoming a grown up listed company with a market capitalisation of $130 million and a rising share price and profile, could you please ensure that we don't hold our AGM on the last possible day of the AGM season again next year? It's almost 5 months since June 30, for goodness sake. Today is the day when dozens of disorganised penny dreadful stocks hold their AGMs, often in the hope that no one will notice them in the deluge. This is not the sort of crowd that we want to hang with so please avoid the last day of the season for our 2025 AGM. Could the external auditor comment on whether an earlier AGM would impact the quality and extent of the audit?

Answer: The question wrangler invited auditor Sam to respond but couldn't hear what he said online. Watch video of exchange via Twitter.

Q2. Could new chair David Brudenell please comment on the biggest changes in board process, delegations, reporting lines or governance that he has implemented since taking over as chair in March? Could the next most senior person on the call please comment on the biggest changes those noticed since David took over as executive chair.

Answer: Best answer yet to this question. He both gets it and is shaking things up. Watch video of exchange via Twitter.

Q3. As a small shareholder in more than 400 companies, I love to go back and watch past AGM debates on rem report items like this one. However, I couldn't find a copy of last year's AGM webcast on your website? Out of respect for your 800 retail shareholders, more than 95% of whom won't be attending 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 copy of the full AGM transcript with the ASX?

Answer: The executive chair David Brudenell gave an immediate positive response. Watch video of exchange via Twitter.

Q4. 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. What is our history of doing selective placements, why are we asking for this authority and has there been a substantial protest vote against this resolution? Placements favour big end of town investors at the expense of retail and even when retail are offered an SPP, the mast majority don't participate. The biggest victim in Australia's anything goes capital raising system is the retail shareholder who doesn't open the mail or email so please take this into account next time we do a capital raising? Did you think about doing a pro rata raising?

Answer: The question was read in full and the executive chair David Brudenell gave a considered answer. Watch video of exchange via Twitter.

Q5. Explain recruitment process for new US-based director Jenny Fielding.


Answer: There were 4 candidates interviewed, no head hunter and an excellent answer from both Jenny and the executive chair. Watch video of exchange via Twitter.

Copyright © 2024 The Mayne Report. All rights reserved

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