STOCKHOLDERS’ MEETINGS – AUSTRALIA

Global Lithium AGM delayed to probe Chinese conspiracy

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Original article by Mark Wembridge
The Australian Financial Review – Page: 17 : 20-Nov-24

The Supreme Court of Western Australia has approved Global Lithium Resources’ application to postpone its annual general meeting until 14 February. The AGM was scheduled to be held in Perth today, but the company had sought a delay in order to give the Foreign Investment Review Board more time to investigate allegations regarding Chinese-born minority shareholder Liaoliang Zhu. It has been claimed that Zhu is using his push to gain a seat on Global Lithium’s board to gain "effective control" of the company’s Manna lithium project in WA.

CORPORATES
GLOBAL LITHIUM RESOURCES LIMITED – ASX GL1, SUPREME COURT OF WESTERN AUSTRALIA, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD

Woodside faces climate protest vote

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Original article by Giuseppe Tauriello
The Australian – Page: 15 & 18 : 15-Mar-23

Woodside Energy’s climate strategy will come under scrutiny again at its AGM on 28 April. Some 49 per cent of shareholders had voted against the oil and gas group’s climate report at its 2022 AGM. Climate activists contend that Woodside’s latest climate plan fails to address concerns that were raised in 2022. Meanwhile, Vision Super and Betashares have joined with the Australasian Centre for Corporate Responsibility in calling for shareholders to vote against the re-election of Ian Macfarlane, Swee Chen Goh and Larry Archibald to Woodside’s board. They contend that the three directors should be held to account for the board’s repeated failure to present a credible climate strategy.

CORPORATES
WOODSIDE ENERGY GROUP LIMITED – ASX WDS, VISION SUPER PTY LTD, BETASHARES CAPITAL LIMITED, AUSTRALASIAN CENTRE FOR CORPORATE RESPONSIBILITY

Forrest’s Fortescue joins rare earth race

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Original article by Nick Evans
The Australian – Page: 16 : 23-Nov-22

Fortescue Metals Group’s executive chairman Andrew Forrest has told its AGM that the company aims to expand into critical minerals. He said Fortescue has "kicked off a global stream of work" in South America aimed at securing access to critical minerals such as rare earths. He added that rare earths will be critical to Fortescue Future Industries’ projects in manufacturing, renewables and hydrogen. Forrest also said that Fortescue is close to gaining a preliminary mining licence for the Belinga iron ore project in Gabon, and that it plans to commence drilling early in 2023.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, FORTESCUE FUTURE INDUSTRIES PTY LTD

Seven West Media won’t commit to dividend timetable

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Original article by Miranda Ward
The Australian Financial Review – Page: 24 : 10-Nov-21

Seven West Media suspended its dividend payments in 2018, in order to focus on reducing debt. Chairman Kerry Stokes has told the group’s AGM that it will review its dividend policy in 2022, but he declined to make any commitment as to when dividends will resume. Stokes also defended the remuneration package of CEO James Warburton, whose total pay topped $7.6m in 2020-21; Stokes says that Warburton is paid for performance, and his pay reflected the challenges faced by Seven during the last year, including the global pandemic.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM

Lockdowns and supply chain squeeze to lead to earnings reset

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Original article by Richard Henderson
The Australian Financial Review – Page: 29 : 13-Oct-21

Many Australian-listed companies withheld earnings guidance during the August reporting season, citing factors such as uncertainty arising from the COVID-19 pandemic. Investors will be hoping for greater clarity during the annual general meetings season, but Chris Nicol of Morgan Stanley says they are likely to be disappointed. He cautions that factors such as lockdowns and supply chain problems can be expected to weigh on earnings in the first half of 2021-22.

CORPORATES
MORGAN STANLEY AUSTRALIA LIMITED

Myer has the right stuff to lead revival

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Original article by Eli Greenblat
The Australian – Page: 15 : 6-Oct-21

Myer Holdings’ chair JoAnne Stephenson has urged shareholders to vote against any motion to spill the department store group’s board of directors. There has been speculation that major shareholder Premier Investments will push for board renewal at Myer’s annual general meeting on 4 November. Stephenson was officially appointed as chair on 16 September, having been in the role on a temporary basis since predecessor Garry Hounsell stepped down in 2020. Stephenson says Myer’s board has an appropriate mix of skills, experience, diversity and independence.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, PREMIER INVESTMENTS LIMITED – ASX PMV

Blue chips steal AGM season spotlight

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Original article by Vesna Poljak
The Australian Financial Review – Page: 22 : 12-Oct-20

Futures pricing suggests that the Australian sharemarket will open flat on 12 October, despite a positive lead from Wall Street. The annual general meetings season is set to again be the key focus for investors in the coming week; the Commonwealth Bank, Telstra and CSL are among the blue-chip stocks that are slated to hold their AGMs. Macquarie has indicated that trading updates and commentary are likely to be of increased importance during the current AGM season, given that just 19 per cent of listed companies provided earnings guidance during the recent reporting season.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, TELSTRA CORPORATION LIMITED – ASX TLS, CSL LIMITED – ASX CSL, MACQUARIE GROUP LIMITED – ASX MQG

Caltex investors back Ampol rebirth

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 19 : 15-May-20

Some 99.8 per cent of Caltex Australia’s shareholders have supported a resolution to change its name to Ampol. The company aims to complete the rebranding of its petrol stations by the end of 2022. Caltex’s interim CEO Matt Halliday has noted the impact of coronavirus-induced travel restrictions; he says that convenience retail fuel volumes fell 16 per cent year-on-year in the 12 months to April, while demand for jet fuel has fallen by up to 90 per cent. Caltex is still looking to sell a 49 per cent stake in a portfolio of petrol stations, via an IPO or a trade sale.

CORPORATES
CALTEX AUSTRALIA LIMITED – ASX CTX

HT&E radio, digital and outdoor advertising business going strong in coronavirus environment

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Original article by Leo Shanahan
The Australian – Page: Online : 8-May-20

HT&E has one of the strongest balance sheets in the Australian media sector, according to chairman Hamish McLennan. He noted at the radio, digital and outdoor advertising group’s AGM that it has no undrawn debt and it boasted net cash of $111m at the end of 2019. Meanwhile, CEO Ciaran Davis said the newly-launched Dynamic Audio targeted digital advertising system will enable HT&E’s Australian Radio Network to deliver real-time, personalised advertising to radio audiences.

CORPORATES
HT&E LIMITED – ASX HT1, AUSTRALIAN RADIO NETWORK PTY LTD

Rio backs green stimulus ahead of activist meeting

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Original article by Nick Evans
The Australian – Page: 15 : 7-May-20

Rio Tinto’s scope 3 emissions will come under scrutiny at the resources group’s Australian annual general meeting on 7 May. A motion will be put to shareholders for Rio Tinto to outline its strategy for reducing scope 1,2 and 3 emissions. Just six per cent of shareholders voted in favour of a similar motion at the 2019 AGM. Meanwhile, Rio Tinto chairman Simon Thompson has supported a push by the Energy Transitions Commission for governments to ramp up investment in green energy as part of the recovery from the coronavirus pandemic.

CORPORATES
TIO2 CORPORATION PTY LTD, ENERGY TRANSITIONS COMMISSION