Daily AGM Note 25 November 2015 - first strikes at Kimberley Diamonds, McAleese, Oilex, Troy Resources, Valence Industries; Goodman Group security holder dissent on grants to executive directors

Why do you think there was such a strong showing against Hunter Hall for the proxy votes? Presumably these would be the most informed voters (I assume most proxy voters would be professionals like yourself?), and the 'against' vote was very strong. It seems hard to believe that after 64% of proxies could be voting against yet the resolution would still pass.

Taking the second queston: When voting on a show of hands each shareholder present, in person or by proxy, has one vote irrespective of the size of the shareholding. Proxy votes really come into play when a poll is called and there is one vote per ordinary share. A poll would ideally have been called for on this proxy voting position. Why the proxy vote against? I don't cover HHV so I can't say whether there are other issues. A quick look at their 2015 remuneration report indicates non-executive director fees were increased in FY2015 as the Board is trying to phase in increases in line with 'market' data which showed the Board fees were well below the market.

Thanks Kym, always appreciate your detailed responses!