Crikey bought the mandatory $500 worth
of shares in Clime Capital yesterday so if sharemarket scavenger David
Tweed decides to call another EGM and show up in a silly outfit, I’ll
be able to pop along and join in the fray. Along with Jack Tilburn,
this guy gives all shareholder activists a bad name and he deserves to
be hounded every time he puts his head up in public.

It is not
usual for listed companies to allow the press to film and record
shareholder meetings but Clime’s chairman Roger Montgomery clearly
decided this was the best form of attack at this week’s AGM against
Tweed, who has now used his 19.9% stake to call three EGMs in an
attempt to be bought out for a profit of almost $1 million.

The interview with Tweed that PM‘s business editor Peter Ryan put to air on Tuesday night was hilarious and well worth a listen. As Mark Colvin back-announced, “it was a bit like interviewing a brick wall.”

Ryan was even pictured in The Australian
holding up a microphone to Tweed as he addressed the meeting, something
I’ve never seen in hundreds of AGMs. A typical strategy is what Rupert
Murdoch allows, where the electronic media can film his arrival but
then are locked out for the actual meeting.

Tweed appears to have no shame, but he was clearly uncomfortable in the
media spotlight, so maybe the strategy of calling in the press worked.
Check out this photo of his silly outfit in The Age and go here for an earlier photo of Tweed being confronted by two of the pensioners he’d ripped off with his low-ball offers.

Tweed appeared to vote his stake against Clime’s remuneration report but it was still passed with more than 65% of the vote.