MMA's 2017 AGM
MMA has now released its 2017 AGM notice.
The AGM will be held on 30 November 2017 at 10.30am
at the company’s offices, Endeavour Shed, 1 Mews Road, Fremantle WA.
We have included instructions on how to vote in support of Halom’s resolutions below, should you choose to do so.
Halom and its advisers will be attending. We look forward to meeting you if you attend.
How to Vote
Many shareholders have asked us how they can support our resolutions to refresh the governance of MMA and advocate for a new strategic direction for the company.
To support our initiative for change, we recommend shareholders vote as follows
on Halom’s resolutions at the AGM:
Resolution 4 – Removal of Tony Howarth as Director
Vote For
Resolution 5 – Removal of Jeff Weber as Director
Vote For
Resolution 6 – Appointment of Jeff Mews as Director
Vote For
Resolution 7 – Appointment of Ajaib Hari Dass as Director
Vote For
Resolution 3 – Election of Peter Kennan as Director
Vote Against
Resolution 2 - Re-election of Eve Howell as Director
Vote For
Resolution 1 - Adoption of Remuneration Report
Vote Against
Halom recommends that shareholders VOTE AGAINST the following ‘ordinary business’ resolutions at the upcoming AGM:
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Resolution 1 – Remuneration report: Our opinion is that MMA’s remuneration package for its CEO Jeff Weber for FY 2017 remains excessive (notwithstanding recent changes). It is not commensurate with the current challenging market conditions nor the substantial losses suffered by the Company in FY16 and FY17. Read more here.
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Resolution 3 – Appointment of Peter Kennan as a director: Black Crane Capital, represented by Peter Kennan, is a hedge fund. Peter has no OSV experience, to our knowledge based on MMA’s public disclosures. We are concerned that his agenda, as a hedge fund investor, may not be aligned to long term strategic investors in OSV businesses. We consider that, in the circumstances of MMA, it is not appropriate or required for a hedge fund to have Board representation.
We have recommended shareholders VOTE FOR the re-election of non-executive director Eve Howell. This is to promote continuity on the Board going forward.
Halom's position on MMA's 'ordinary business' resolutions (1-3)
Detailed How to Vote Steps
Attending the AGM
(1) Attending the AGM as an Individual Shareholder:
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Arrive at the venue 15 to 30 minutes before the start of the AGM for verification and registration
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MUST bring the Notice of Meeting that MMA sent to you as shareholder
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MUST bring your personal identification documents
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Vote at the AGM
(2) Attending the AGM as corporate representative of a Corporate Shareholder:
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Before the AGM, visit the website www.computershare.com to download the form “Appointment of Corporate Representative”. Please also find a copy of the form on our website at this link
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Before the AGM, please complete the form “Appointment of Corporate Representative” and obtain the authorised signatures (per s127(1) of the Corporations Act, two directors or a director and company secretary)
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Arrive at the AGM venue 15 to 30 minutes before the start of the AGM for verification and registration
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Corporate representative MUST bring the Notice of Meeting that was sent by MMA to the Corporate Shareholder and the completed and duly signed “Appointment of Corporate Representative”
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Corporate representative MUST bring your personal identification documents
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Vote at the AGM
Voting by Proxy
(1) Appointing a Proxy to vote on your behalf as an Individual Shareholder:
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Proxy need NOT be a shareholder
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Proxy can be either an individual or a body corporate
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If a body corporate is appointed as the Proxy, the Proxy must ensure that it appoints a corporate representative to exercise its powers as Proxy at the AGM
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Before the AGM, the proxy must complete the form “Appointment of Corporate Representative” and obtain the authorised signatures
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INDIVIDUAL shareholder MUST fill in the name of the Proxy being appointed in Step 1 of the Proxy Form.
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INDIVIDUAL shareholder MUST direct your proxy to vote by putting a “X” for each of the resolutions in Step 2 of the Proxy Form
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Proxy Form MUST be signed by the INDIVIDUAL shareholder
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Proxy Form MUST be sent to the Company’s Share Registry, see IMPORTANT NOTE below.
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A sample completed Proxy Form is below or available for download here
(2) Appointing a Proxy to vote on your behalf as a Corporate Shareholder:
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Proxy need NOT be a shareholder
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Proxy can be either an individual or a body corporate
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If a body corporate is appointed as the Proxy, it must ensure that it appoints a corporate representative to exercise its powers as Proxy at the AGM
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Before the AGM, the proxy must complete the form “Appointment of Corporate Representative” and obtain the authorised signatures (per s127(1) of the Corporations Act, two directors or a director and company secretary)
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CORPORATE shareholder MUST fill in the name of the Proxy being appointed in Step 1 of the Proxy Form.
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CORPORATE shareholder MUST direct your proxy to vote by putting a “X” for each of the resolutions in Step 2 of the Proxy Form.
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Proxy form must be executed by the CORPORATE shareholder pursuant to section 127 of the Corporations Act 2001 (Cth) (Corporations Act) (i.e. signed by 2 directors, or a director and the company secretary) OR be signed by a duly authorised officer or attorney of that corporation
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Proxy Form MUST be sent to the Company’s Share Registry, see IMPORTANT NOTE below.
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A sample completed Proxy Form is below or available for download here
Voting by Attorney
Appointing an attorney to attend and vote at the AGM:
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A shareholder may appoint an attorney to attend the AGM and vote on its behalf.
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The original instrument effecting the appointment (or a certified copy of it) must be received by the Company’s Share Registry at the addresses listed below at least 48 hours prior to the commencement of the AGM
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Arrive at the venue 15 to 30 minutes before the start of the AGM for verification and registration
Important Note for Shareholders Voting by Proxy
To be effective, a proxy appointment form must be received not later than 48 hours before the commencement of the AGM (i.e. no later than 10.30am (Perth time on Tuesday, 28 November 2017).
Proxy forms must be received by one of the following methods:
By post: Computershare Investor Services Pty Limited, GPO Box 242, Melbourne, Victoria, 3001
By facsimile: (within Australia) 1800 783 447
(outside Australia) +61 3 9473 2555
By mobile: Scan the QR Code on your personalised Proxy form and follow the prompts
Online: Shareholders may submit their proxy instructions electronically online to the Company’s Share Registry by visiting www.investorvote.com.au. For Intermediary Online Subscribers only (custodians) please visit www.intermediaryonline.com to submit your voting intentions.
By hand: Computershare Investor Services Pty Limited, Level 11, 172 St Georges Terrace, Perth WA 6000