Media releases

 

New Alliance wants fairer retirement outcomes for all Australians

Several associations have formed the "Alliance for a Fairer Retirement System" to explore options to fix problems with the existing superannuation taxation, Age Pension means testing and broader retirement income systems. The formation of the Alliance is in response to Labor's proposal to disallow refunds of excess franking credits for a range of retirees and shareholders. The report from Rice Warner referenced in the media release can be found here.

ASA to vote proxies at AMP AGM

At the AMP AGM on 10 May, the Australian Shareholders’ Association (ASA) will vote a wad of proxies. Three directors are up for election and ASA intends to vote against two of them. Both Holly Kramer and Vanessa Wallace were on the AMP Board when there was the delay in reporting breaches to ASIC; the alleged interference with the independent report took place; and the Board decided that the breaches that occurred in the wealth division did not necessitate a comprehensive external review. ASA will also vote against the remuneration report.

Shareholders disturbed by AMP evidence before Royal Commission

The revelations from the evidence given at the Royal Commission raise serious concerns about the amount of oversight that directors were exercising in relation the AMP business and reputation, and the corporate culture they were tolerating or facilitating. The ASA wants to ask Catherine Brenner about the reported interference with the production of the independent report from Clayton Utz. If this is not able to be provided, her position as chair is untenable and she should resign. 

ASA objects to ad hoc changes to tax and super regime

The Australian Shareholders' Association (ASA) calls on politicians to stop jeopardising the planning of self-funded retirees by tweaking the tax system, when they should be undertaking a comprehensive overhaul as proposed by the Ken Henry review.

ASA to vote proxies at Ardent AGM

At the Ardent AGM on November 20, ASA will vote a wad of proxies. Six directors are up for election or re-election. While shareholders will be there on the day, the ASA believes it is anyone's guess as to which directors will still be around.

ASA obtains directors' fee haircut at Nine Entertainment

ASA has been successful in having the board of Nine Entertainment respond to shareholder agitation about the high level of non-executive director remuneration at the televesion network.

ASA concerned with differential treatment of shareholders proposed for resources sector capital raisings

Today ASA expressed concern with the announcement by the Australian Government to introduce further differential treatment of shareholders in capital raisings.


A growth opportunity not realised

Today ASA expressed its view that it is regrettable that what appeared to be a great growth opportunity for Slater & Gordon has not eventuated and that shareholders have incurred heavy losses.

ASA disappointed by Network Ten sale process results

Today ASA issued a media release expressing its disappointment that retail shareholders are unlikely to receive any part of the sale proceeds from the sale of Network Ten to CBS.

Shareholders disappointed by Network Ten administrators

ASA today expressed its disappointment at the decision of KordaMentha, administrators of TEN Network Holdings, not to allow shareholders and the media access to Monday’s first creditors’ meeting.