Blue chips steal AGM season spotlight

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

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

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

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

Seven takeover bid has failed, Prime admits

Original article by Lilly Vitorovich
The Australian – Page: 15 : 19-Dec-19

Seven West Media’s proposed acquisition of regional affiliate Prime Media Group has been cleared by the Australian Competition & Consumer Commission. The ACCC would require Seven to divest the Spirit and RedFM radio networks in regional Western Australia to comply with broadcasting laws. However, Prime has indicated that the proxy votes which have been cast to date suggest that the deal will not proceed. Prime shareholders will vote on the deal on 19 December. Prime has confirmed that chairman John Hartigan will retire following the shareholders’ meeting.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, PRIME MEDIA GROUP LIMITED – ASX PRT, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, WIN CORPORATION PTY LTD, SPIRIT RADIO, REDFM

Haoma Mining – Chairman’s address to shareholders, by Gary Morgan, Wednesday December 18, 2019

Original article by
Haoma Mining NL Announcements – Page: Online : 19-Dec-19

Yesterday at Haoma Mining’s AGM, Chairman Gary Morgan presented information on Haoma’s activities, including recent Test Work at Bamboo Creek. Included in the information was the report that over the last 7 days a Vat Leach Trial at Bamboo Creek processed a sample of 1.425 tonnes of course (+180 microns to -3mm) Kitchener Low Grade Ore using the Elazac Leach Process. The ‘calculated’ gold grade (based on the Elazac Assay Method) was 37.39 g/t gold. Shareholders were reminded that the Bamboo Creek Vat contains 28,000 tonnes of crushed course Kitchener Low Grade ore and leaching should be operating early next year.

CORPORATES
HAOMA MINING NL

Primed: Harto poised to sign off

Original article by Caroline Overington
The Australian – Page: 13 & 18 : 18-Dec-19

Prime Media Group’s chairman John Hartigan expects shareholders to reject Seven West Media’s takeover offer for its regional affiliate on 18 December. He says the deal is likely to be blocked by major shareholders Bruce Gordon and Anthony Catalano, noting that they have a different agenda to other Prime investors. Hartigan supports the merger with Seven, arguing that cross-media ownership rules governing regional broadcasters are outdated and do not reflect the rise of streaming services. Hartigan has downplayed speculation that he will step down after the vote.

CORPORATES
PRIME MEDIA GROUP LIMITED – ASX PRT, SEVEN WEST MEDIA LIMITED – ASX SWM

Humbled Westpac faces shareholder anger

Original article by Glenda Korporaal
The Australian – Page: 17 & 20 : 9-Dec-19

Some 64 per cent of votes cast at Westpac’s 2018 annual meeting rejected its remuneration report. The bank is likely to incur a second ‘strike’ at its 2019 annual meeting on 12 December, while the re-election of director Peter Marriott is uncertain in the wake of the scandal over breaches of anti-money laundering laws. However, Westpac is likely to avoid a resolution calling for a board spill. The Australian Shareholders’ Association and proxy adviser ISS will vote against the remuneration report, although the ASA will oppose any push to spill the board.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, INSTITUTIONAL SHAREHOLDER SERVICES INCORPORATED, OWNERSHIP MATTERS PTY LTD, CGI GLASS LEWIS PTY LTD, AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE

Retail investors turn on director Marriott

Original article by Aleks Vickovich
The Australian Financial Review – Page: 17 : 5-Dec-19

Westpac’s money-laundering scandal is set to dominate its AGM on 12 December. The Australian Shareholders’ Association has signalled its intention to vote against the remuneration report and the re-election of Westpac director Peter Marriott. However, it will support the re-election of Nerida Caesar, Steve Harker and Margaret Seale. The Australian Council of Superannuation Investors has indicated that it will vote in favour of Marriott’s re-election. Some 64.2 per cent of votes cast at Westpac’s 2018 AGM rejected its remuneration report.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, LEGG MASON ASSET MANAGEMENT AUSTRALIA LIMITED, MARTIN CURRIE INVESTMENT MANAGEMENT LIMITED

ACSI backs director resolutions

Original article by Andrew White
The Australian – Page: 21 : 29-Nov-19

The Australian Council of Superannuation Investors will back the re-election of four Westpac directors at the bank’s upcoming annual meeting. ACSI chair Louise Davidson says it would have voted differently if Westpac CEO Brian Hartzer had remained at the helm and chairman Lindsay Maxsted had not agreed to bring forward his retirement. Davidson adds that Maxsted’s successor will need to ensure that Westpac’s board has the right mix of skills to prevent another money-laundering scandal.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, FEDERAL COURT OF AUSTRALIA