Origin Energy 2015 AGM update
Kym Sheehan
The Executive Remuneration Reporter
Following its recent announcement of $4.7 billion in capital initiatives including the pro-rated renounceable entitlement offer (the retail entitlement offer booklet was released today), the company and its two executive directors have agreed to withdraw resolutions 8 and 9 from the AGM. These two resolutions sought shareholder approval to grant deferred share rights (STI) and performance rights (LTI) to the Executive Directors. I agree with the decision to withdraw the resolutions. As always the timing is interesting: release AGM materials on 18 September for AGM on 21 October; announce capital initiatives on 30 September (within 2 weeks of deciding AGM agenda and six weeks after the FY2015 results announcement on 20 August 2015), decide 7 October not to proceed with resolutions.
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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 Reporter analyses and advises on remuneration-related resolutions as well as other meeting resolutions (director elections, constitutional, capital maintenance, auditor appointment/removals) at ASX Listed Companies. Learn more about Our Approach https://subscriber.theexecutiveremunerationreporter.com.au/our-approach
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Kym Sheehan
The Executive Remuneration Reporter
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...
Expertise
No areas of expertise
Kym Sheehan
The Executive Remuneration Reporter
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...
Expertise
No areas of expertise
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