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Stephen Mayne

@MayneReport

Crikey & https://t.co/kS7uXPysU3 founder # shareholder advocate # Manningham Cr # Money Cafe Podcaster # Crikey & Intelligent Investor contributor # ABC Melb pundit.

ID:33811563

linkhttp://maynereport.com calendar_today21-04-2009 04:28:55

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Still waiting for the voting results to be lodged with the ASX but just don’t believe this question wrangler at Volpara who claimed that “significantly more than 50%” of the 12,000 shareholders voted at today’s scheme meeting to approve the $300m takeover. He means shares.

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Second of 3 online questions at today’s Volpara scheme meeting in Wellington. They’ve committed to leave the webcast up until the Korean takeover completes.

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Incoming AMP chair Mike Hirst gives Debra Hazelton a generous send off for a job well done in difficult circumstances. Indeed. Well played, Debra.

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Always useful to ask a retiring director for some exit reflections. AMP chair Debra Hazelton said cultural change and hiring new CEO Alexis George from ANZ were the best decisions taken during her 3 year stint as chair after David Murray was forced out early.

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Female chairs often don’t hang around long, so asked Debra Hazelton why she is bailing from AMP after just 5 years on the board, the last 3 as chair. She said 15% protest vote against her re-election last year was not a factor.

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A meandering response from the AMP chair to a multi-pronged buy back question. First time in years a shareholder has talked about a 25% rise in the share price this year.

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AMP hired a head hunter to find 2 new female directors and they served up a long list of almost 100, which was reduced to 4 who were all interviewed by the noms committee. The 2 new directors were not invited to respond, disappointingly.

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AMP doesn’t vote the 1.35% of its own shares that it manages. Also, in this multi-faceted rem report question, chair Hazelton protected successor Hirst from defending his poor record on voting transparency at Amcil.

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Rather than saying Bruce McWilliam sent a 'fiery' email to a female reporter from The SMH, why can't the Murdoch press state the obvious and call it 'disgraceful and appalling'? news.com.au/finance/busine…

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In my view, the many elements of the Qantas debacle were big enough to warrant Goyder’s full exit from the ASX50 chair club, given he chaired the company for more than five years, including the COVID period | Stephen Mayne crikey.com.au/2024/04/11/ric…

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AMP has come up with a good halfway house between calling for questions on every individual item (most companies) and just offering one job lot of debating time (Macquarie and QBE). Chair Debra Hazelton has grouped the director election items and the rem items. Works well.

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AMP’s out going chair Debra Hazelton says the succession process was “very robust”. Suspect it was a contest and Mike Hirst beat Kate McKenzie, who then resigned. Just speculation. It was only the company secretary, not a head hunter, who assisted with the ballot process.

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AMP chair Debra Hazelton should have let her successor Mike Hirst comment on this early proxy disclosure question. She was confused at first, claiming AMP had done what they hadn’t. Audience laughed.

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Volpara CEO wraps up scheme meeting assuring shareholders that the takeover by a Korean company will be good for humanity as Volpara continues the fight against breast cancer in a larger entity.

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Whoops, Lunit Inc is a Korean company not a US giant as I said in this question at the Volpara scheme meeting which just concluded in Wellington with just my 3 online questions and 1 in the room.

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Another one gone - Volpara scheme approved so Wellington based tech company will now be owned by a US giant which is paying almost $300m.

Another one gone - Volpara scheme approved so Wellington based tech company will now be owned by a US giant which is paying almost $300m.
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Here is the text of the 7 written questions lodged at the 2024 AMP hybrid AGM, which started at 10am. The Q&A debate is expected to start at around 10.50am once the CEO Alexis George wraps up: maynereport.com/articles/2024/…

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