Daily AGM Note 27 November 2015 - second strike and Board Spill at Draig Resources
Last day in the last full week of the main AGM season. Already this morning shareholders have inflicted first strikes at Ambertech, Flinders Mines and SubZero Group, while Alliance Resources avoided a second strike with a poll results of 75.72% for. Elk Petroleum, Metals Australia, Pegasus Metals and Salmat have all avoided second strikes. The Daily AGM Note is updated progressively throughout the day as the results come in and you'll find today's note at this (VIEW LINK) When you read it, scroll down to the discussion on show of hands versus poll. I have three examples from today of AGMs where the remuneration report was passed on a show of hands, without the Board chair calling for a poll. Only one of these examples could be said to be clear whereas the other two have proxy votes against at around 24% or higher. Calling for a poll makes the outcome clear plus it also recognises the sentiment expressed in the proxy votes.
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With a background in human resources, executive search and corporate law, Kym Sheehan brings unique perspectives on corporate governance and meeting resolutions to her work for The Executive Remuneration Reporter. The Executive Remuneration...
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