Ok, I've taken on board what you and retro have posted and I think what you say is misleading. Bear with me, I'm no expert
The Chair only picks up undirected votes in certain circumstances, as you have shown in a later post, but it's a minimal number usually, based on all those conditions in Section 250BC
My position on this is (and I have voted ASX meetings by proxy for yonks, and have rallied shareholders to make sure they appoint proxies) you MUST complete your proxy if you don't intend voting at the meeting. By proxy, you can appoint anyone, or the Chair and you can direct that person how you wish to vote, OR NOT.
My main point is if you do nothing prior to the meeting to appoint a proxy, whether directed or undirected, then
you aren't having your say
Typically only 30% of eligible votes are made on resolutions, so IMO, we may need to marshall the troops
If these clowns can marshall 30% of shares in their favour, we will need to rally the troops to
lodge proxies, with direction (as
@cruiser51 says) to make sure of retaining the best board on the ASX, if it gets to being on the agenda
In your example from last years meeting, tell me where the other 2 billion votes went - they are certainly not all excluded by conflict of interest - they just didn't vote at the meeting or didn't appoint proxies
Proxy discretion is where voters appoint chair or someone else, with no direction on how they will vote, thereby leaving it to the proxy.
This may be fucking important
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classic.austlii.edu.au
