STOCKHOLDERS’ MEETINGS – AUSTRALIA

Billiton to go as BHP gets back to its roots

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Original article by Matt Chambers, Samantha Bailey
The Australian – Page: 24 : 19-Sep-18

BHP Billiton’s 2018 AGMs in Australia and the UK will include a resolution to formally drop "Billiton" from its name. The resources group has been referring to itself simply as BHP in marketing campaigns for the last 18 months. Many of the assets that BHP gained via the merger with Billiton in 2001 have since been sold or spun off into South32. Meanwhile, BHP chairman Ken MacKenzie has indicated that "social licence" will be taken into consideration when selecting directors in the future.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, SOUTH32 LIMITED – ASX S32, ELLIOTT MANAGEMENT CORPORATION

Wilkins sorry as first strike pounds AMP

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Original article by Richard Gluyas
The Australian – Page: 19 & 23 : 11-May-18

AMP incurred a backlash from investors at its annual meeting on 10 May, with 61.5 per cent of votes cast rejecting its remuneration report. The financial services group could face a board spill in 2019 under the "two-strikes" regime. AMP director Andrew Harmos has retained his seat on the board, although 37.5 per cent of votes cast were opposed to his re-election. Meanwhile, acting executive chairman Mike Wilkins has apologised to shareholders for the "fees-for-no-service" scandal, and acknowledged that rebuilding trust and confidence in the AMP brand will take time.

CORPORATES
AMP LIMITED – ASX AMP, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, CLAYTON UTZ, AMP CAPITAL INVESTORS LIMITED, FEDERAL COURT OF AUSTRALIA, SUPREME COURT OF NEW SOUTH WALES

Break-up an option for HT&E

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Original article by Max Mason
The Australian Financial Review – Page: 16 : 8-May-18

Broadcast media and outdoor advertising group HT&E has appointed CLSA and Credit Suisse to review its business as part of its strategy to increase shareholder value. Chairman Peter Cosgrove has told the company’s AGM that its board will consider all options, including selling some assets or the entire company. HT&E recently rejected an approach from rival oOh!media to acquire its Adshel business. HT&E shares closed 0.9 per cent higher at $A2.28 on 7 May.

CORPORATES
HT&E LIMITED – ASX HT1, CLSA AUSTRALIA PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, ADSHEL PTY LTD, OOH!MEDIA LIMITED – ASX OML, APN OUTDOOR GROUP LIMITED – ASX APO, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN RADIO NETWORK PTY LTD, KIIS 101.1, KIIS1065, MEDIACAP, CITY OF BRISBANE, YARRA TRAMS, JC DECAUX AUSTRALIA PTY LTD

Rio Tinto climate policy resolution expected to fall short

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Original article by Peter Ker
The Australian Financial Review – Page: 17 : 1-May-18

A motion calling for Rio Tinto to review its relationship with industry groups will be put it shareholders at its AGM on 2 May. The motion has been filed by the Australasian Centre for Corporate Responsibility and has the support of investors such as HESTA and the California Public Employees’ Retirement System. However, other Rio Tinto investors are expected to vote against it, and the motion is not expected to secure a majority. Nonetheless, ACCR executive director Brynn O’Brien will deem the motion to have been a success if 10 per cent of Rio Tinto’s shareholders vote for it.

CORPORATES
RIO TINTO LIMITED – ASX RIO, AUSTRALASIAN CENTRE FOR CORPORATE RESPONSIBILITY, HEALTH EMPLOYEES’ SUPERANNUATION TRUST AUSTRALIA LIMITED, CALIFORNIA PUBLIC EMPLOYEES’ RETIREMENT SYSTEM, LGIM, AEGON ASSET MANAGEMENT LIMITED, BHP BILLITON LIMITED – ASX BHP, MINERALS COUNCIL OF AUSTRALIA, AUSTRALIANSUPER PTY LTD

ACSI backs Rio lobby group review

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Original article by James Thomson
The Australian Financial Review – Page: 21 : 20-Apr-18

The Australasian Centre for Corporate Responsibility and Local Government Super will ask Rio Tinto shareholders to back a motion calling for the mining giant to review its relationship with industry groups. BHP Billiton undertook such a review after the ACCR instigated a similar push prior to its AGM in November. The Australian Council of Superannuation Investors is understood to be supportive of the ACCR’s motion at Rio Tinto’s AGM, which will be held in May. BHP’s review prompted it to leave the World Coal Association.

CORPORATES
RIO TINTO LIMITED – ASX RIO, AUSTRALASIAN CENTRE FOR CORPORATE RESPONSIBILITY, LGSS PTY LTD, BHP BILLITON LIMITED – ASX BHP, AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, WORLD COAL ASSOCIATION, UNITED STATES CHAMBER OF COMMERCE, MINERALS COUNCIL OF AUSTRALIA, GLASS LEWIS AND COMPANY LLC

Firms sidestep AGM protest votes

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Original article by Andrew White
The Australian – Page: 19 : 30-Jan-18

The Australian Securities & Investments Commission has released the results of its review of the latest AGM season. ASIC found that there was a decline in the number of "first strikes" issued against company boards over their remuneration reports, although here was an increase in the number of votes against individual directors. Shareholder-generated resolutions relating to climate change and human rights were tabled at eight AGMs, but attracted an average of just six per cent of "for" votes.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE

CBA’s super shareholder to target director

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Original article by James Frost
The Australian Financial Review – Page: 15 & 18 : 13-Nov-17

AustralianSuper is believed to be planning to vote against the re-election of Andrew Mohl to the Commonwealth Bank of Australia’s board at its AGM on 16 November. Mohl, who is a member of the bank’s risk committee, is one of three directors who are seeking re-election. AustralianSuper’s opposition to his re-election is said to be in response to the CBA’s money-laundering scandal, which followed a number of other scandals at the bank in recent years. However, AustralianSuper will not vote against CBA’s remuneration report.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIANSUPER PTY LTD, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE

Harvey Norman showdown likely over chairman’s re-election

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Original article by Sue Mitchell
The Australian Financial Review – Page: Online : 7-Nov-17

The Australian Shareholders’ Association has urged Harvey Norman shareholders not to vote for the re-election of chairman Gerry Harvey and two other directors at its AGM on 16 November. If the nominated three directors are re-elected, the ASA contends Harvey Norman will no longer have an independent board as from December. Under its guidelines, any director that has been on a board for more than 12 years is no longer deemed independent. The ASA also plans to vote against Harvey Norman’s remuneration report, while it will also urge Wesfarmers’ shareholders to vote against its remuneration report at its AGM, to be held on the same day.

CORPORATES
AUSTRALIAN SHAREHOLDERS’ ASSOCIATION,HARVEY NORMAN HOLDINGS LIMITED – ASX HVN,WESFARMERS LIMITED – ASX WES,AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION,ASX LIMITED – ASX ASX

Fairfax goes it alone as investors back Domain split

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Original article by Dana McCauley
The Australian – Page: 21 : 3-Nov-17

The majority of Fairfax shareholders at its 2017 annual meeting voted in favour of demerging the Domain property listings business. Fairfax will retain a 60 per cent stake in Domain, while shareholders will receive one share in Domain for every 10 Fairfax shares that they own. Meanwhile, Fairfax CEO Greg Hywood has stressed that the company’s print newspapers will continue to be published for some time, while chairman Nick Falloon indicated that Fairfax would be open to merger deals following the relaxation of cross-media ownership laws.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, DOMAIN.COM.AU, SEVEN WEST MEDIA LIMITED – ASX SWM, TRONC INCORPORATED, FEDERAL COURT OF AUSTRALIA

‘Enormously damaging’: Hounsell strikes back at Lew

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Original article by Sue Mitchell
The Australian Financial Review – Page: 13 & 21 : 31-Oct-17

Gary Hounsell has urged Myer shareholders to elect him and two other independent directors to its board at its AGM on 24 November. The election of Hounsell, who is Myer’s chairman-designate, and the other two directors is opposed by Solomon Lew’s Premier Investments, which is Myer’s largest shareholder. Lew has requested three seats on the Myer board, but Hounsell says this would amount to him controlling 43 per cent of non-executive director roles. Hounsell has told Myer shareholders that Lew appears to want to gain control of the company without them benefiting from any takeover premium.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, PREMIER INVESTMENTS LIMITED – ASX PMV, DOTTI, PORTMANS PTY LTD, PETER ALEXANDER SLEEPWEAR PTY LTD, WOOLWORTHS LIMITED – ASX WOW, JUST JEANS PTY LTD, JAY JAY’S JEANS WAREHOUSE PTY LTD, JACQUELINE EVE GROUP, SMIGGLE PTY LTD