November wil be an interesting month for Director re-election, their remuneration and other management decisions.
The three ASX listed companies of BlueScope (Lysaght), Hills Holdings (Fielders) and Fletcher Building (Stramit) will face the shareholders this month of November 2012. Plenty of disappointment by some shareholders already resulted in some companies having taken remuneration off the agendas or never included.
Look at the last six month ASX performance chart of each and the list of dates and venues for the AGM of each:
1. BlueScope - Lysaght.
15th November 2012, 2.00pm
Melbourne Convention Centre.
|ASX chart as of 26/10/2012 for BlueScope. 6 months only.|
2. Hills Holdings - Fielders.
1st November 2012, 1.00pm
Theatre A, The Adelaide Entertainment Centre
98 Port Road South, Hindmarsh,
|ASX Chart as of 36/10/2012 for Hills Holdings. 6 months only.|
3. Fletcher Building - Stramit.
20th November 2012, 10.30am
Level 4 Lounge, Corporate Entry G,
South Stand, Eden Park, Reimers Avenue, Mt Eden,Auckland, New Zealand
|ASX Chart as of 26/10/2012 for Fletcher Building. 6 months only.|
Is this a strike?
Both BlueScope and Hills Holdings AGMs are being held at 2pm and 1pm respectively while Fletcher Building has its AGM scheduled for 10.30am. Is the timing an influence of how shareholders react. Before lunch or after lunch, people may be tired or full of anger - who knows yet.
The ordinary and special business differ in each case and in all cases the re-election of directors is at the beginning followed by remuneration requests. It is these two items that may be the crux of each company outcomes. Lots of corporate games being played and some will end in tears.
What will be the outcome of each, will all directors still have positions after each AGM, will their remunerations be slashed or approved.
Shareholders are fairly ruthless, they invest money for return and maybe they are looking at the charts only, which doesn't look good for some of the above 3. Future dividends also play a role to shareholders.
Good luck to all directors in your upcoming re-election campaigns and may the best directors survive.
Rollforming is a tough competitive business and some will be different as a result partly due to these three AGM outcomes in November 2012.
|But I'm cutting costsss...................................|