There have been countless examples over the years of hopeless disorganisation leading to missed AGMs and bungled proxies, so it
should really come as no surprise to hear that at 4.35pm last night I
discovered Frank Lowy’s Westfield Group was not in the 100-share
Here I was all excited about having the first AGM showdown with
Frank Lowy since 2000 and now it’s going to have to wait another year.
Reserve Bank conflicts, the sweetheart deal with GPT and how much of
Frank’s $14 million a year salary is being paid for his soccer work
were just some of the questions that now won’t be asked.
The only saving grace in leaving the floor to Crazy Jack Tilburn when
the Westfield AGM kicks off at the Westin from 10am is that, now, an
opportunity has opened up to attend the Aristocrat Leisure AGM
from 10.30am at Star City Casino. However, the anti-gambling sprays
will have to be fairly brief to facilitate a quick dash down to the
Four Seasons Hotel in George Street for some media ownership
discussion with APN News & Media.
There’s no doubt that 2 May is definitely the busiest day of the 2006
season for the approximately 250 listed companies with 31 December
balance dates. There will also certainly be some interesting post-lunch
action when SFE Corp holds its last AGM before the merger
with those fellow monopolists from the ASX. Observers who read this in
time can drop by the Shangri-la at The Rocks from 2.30pm for all the
action. The recent report from the respected Peter Doherty of Capital
Partners suggesting SFE Corp is being sold too cheaply will no doubt
get an airing.
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The Rio Tinto-controlled Coal & Allied is also holding its AGM
from 11am in Sydney tomorrow, so that makes five top 100 companies all
gathering on the one day. Who needs to be on the Westfield register
with this smorgasbord to choose from?
We’ll have reports on all the action in tomorrow’s Crikey, but
Victorians can tune in to ABC 774 from 5.40pm for the regular Tuesday
spot with Lindy Burns for an early taste.