STOCKHOLDERS’ VOTING

Rio chair to face Juukan anger

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Original article by Nick Evans
The Australian – Page: 17 : 9-Apr-21

Rio Tinto is expected to incur a backlash against its remuneration report at the London leg of its annual general meeting on 9 April. Outgoing chairman Simon Thompson is likely to be the main target of investors’ wrath in the wake of the scandal over the destruction of ancient indigenous rock shelters at Juukan Gorge in Western Australia. The scandal resulted in the departure of three senior executives – including former CEO Jean-Sebastien Jacques – who will receive lucrative severance payments. Rio Tinto will hold its Australian annual general meeting on 8 May.

CORPORATES
RIO TINTO LIMITED – ASX RIO

Murdoch’s great escape

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Original article by Neil Chenoweth
The Australian Financial Review – Page: 18 : 21-Oct-15

News Corporation’s non-voting A shares have traditionally traded higher than the B shares, which have voting rights. However, the latter traded at a 1.2 per cent premium in New York on 20 October 2015. Some 49.5 per cent of votes cast at the media group’s 2015 AGM were in favour of abolishing the dual-class share structure. The resolution was defeated by less than 900,000 shares. Scrapping the non-voting shares would have reduced the Murdoch family’s voting stake to 13.5 per cent.

CORPORATES
NEWS CORPORATION – ASX NWS, 21ST CENTURY FOX INCORPORATED, FOXTEL MANAGEMENT PTY LTD, REA GROUP LIMITED – ASX REA, NATIONAL RUGBY LEAGUE, SOUTH EASTERN ASSET MANAGEMENT

BHP may cut dividend if DLC changes fail

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Original article by Peter Ker
The Australian Financial Review – Page: 19 : 21-Oct-15

CGI Glass Lewis has recommended that BHP Billiton shareholders support a resolution to transfer funds from its Australian-listed entity to its UK-listed company. The proposed payment is necessary to allow shareholders in both companies to continue receiving the same dividend payout. CGI Glass Lewis has warned that all shareholders could face lower dividend payouts if the resolution is rejected.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, CGI GLASS LEWIS PTY LTD, SOUTH32 LIMITED – ASX S32

Murdoch to face shareholder revolt

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Original article by Max Mason
The Age – Page: 40 : 14-Oct-15

News Corporation’s share structure will again come under scrutiny at the media giant’s 2015 AGM in New York. However, any resolution to abolish the dual-class structure faces a significant hurdle, as the Murdoch Family Trust holds 38.4 per cent of Class B shares, which have voting rights. Some 47.4 per cent of votes cast at the 2014 AGM were in favour of scrapping the distinction between Class B and non-voting Class A shares.

CORPORATES
NEWS CORPORATION – ASX NWS, MURDOCH FAMILY TRUST, SOUTHEASTERN ASSET MANAGEMENT INCORPORATED, NATHAN CUMMINGS FOUNDATION, LEGAL AND GENERAL ASSURANCE SOCIETY LIMITED, HERMES EQUITY OWNERSHIP SERVICES LIMITED, FOXTEL MANAGEMENT PTY LTD, AMPLIFY PTY LTD, CITIGROUP PTY LTD, DEUTSCHE BANK AG