November 2016: Month ahead in AGMs

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You can find the main note at this link (VIEW LINK) and from there you can reach the other notes. ASX Listing Rule 10.17 resolutions to increase the non-executive director fee pool are one theme to look out for. I explain these resolutions in this note (VIEW LINK) and while many companies are claiming we need a higher fee pool limit for succession planning purposes, typically there is already enough headroom in the current limit to add at least one additional director. By definition, succession planning means one new appointee is followed by a retiree: any increase in the number of NEDs is temporary. The other theme is ASX Listing Rule 10.14 resolutions to grant equity based remuneration to the executive directors. I explain these resolutions in this note (VIEW LINK) and while many companies are moving to face value methods to price the securities (denominator), which means fewer rights are given than if a fair value method was used, the numerator in the equation is the dollar value of the grant. Take a look at Ramsay Healthcare on this issue.


Kym Sheehan

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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