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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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...


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