Media releases

 

Lessons to be learnt from Westfield outcome

The ASA was disappointed with the outcome of the Westfield restructure vote and believes there are some important lessons to be learnt about voting processes, board conduct and demergers.

ASA to tell Productivity Commission it supports shareholder class actions

The Australian Shareholders’ Association will be appearing at Productivity Commission hearings in Melbourne on Tuesday where it will broadly support the current system of shareholder class actions.

ASA endorses Unisuper position, explains preferred process on Westfield vote

The ASA is pleased that Unisuper has publicly articulated its concerns about the Westfield restructure and vote deferral. We have also explained our position on how the deferred vote should be handled, preferably with strong oversight from ASIC.

ASA pushes for fairer treatment at Westfield Retail Trust

The Australian Shareholders’ Association today released its voting intentions report for the upcoming Westfield Holdings shareholder meetings, thus completing the public release of its suite of recommendations across the 4 separate Westfield meetings and 21 resolutions to be determined on May 29 in Sydney.

ASA calls for end to Millionaire Factory fee heist at MQA

After external manager and 20.7% shareholder Macquarie Group extracted another $37.6 million in fees from toll road owner Macquarie Atlas in 2013, ASA is calling on the directors to negotiate a better deal for shareholder who collectively received less than this figure in dividends last year.

ASA releases sweeping new policy agenda

After almost two years of internal debate, discussion papers and public submissions, the ASA today released a new policy platform for monitoring listed companies.

ASA supports wider reduction of red tape on 100 signature rule

The Australian Shareholders’ Association notes reports in today’s press about the government’s intention to reduce the power of retail shareholders in the calling of Extraordinary General Meetings (EGM). The ASA is concerned about any reduction in shareholder rights.

Time for companies and investment banks to stop diluting small Australian investors in capital raisings

The Australian Shareholders’ Association today expressed disappointment with the outcome of today’s $43.8 million Ruralco capital raising which is just the latest example of an offer which was structured to dilute retail investors.

ASA Calls on PM to halt rushed reversal of FOFA reforms

The ASA is deeply concerned by proposed change to the Future of Financial Advice reforms which Assistant Treasurer Arthur Sinodinos appears determined to rush through using Ministerial powers, not legislation. See this ASA press release (add link) calling for the Prime Minister to intervene.

ICAC Report and White Energy company

The Australian Shareholders’ Association today called for a restructuring of the White Energy Company board in light of the damning ICAC reports released yesterday.