There has been a significant increase in the number of ASX 300 companies receiving a strike against their remuneration report in the 2018 AGM season, with fifteen companies overall receiving strikes compared with six in 2017.
The Australian Securities & Investments Commission issued Report 564 in January this year.
Among the top 300 listed companies by market capitalisation*, there were six companies that experienced a significant shareholder vote against their Remuneration Report during the final quarter of the 2017 Annual General Meeting season.
We discuss the simple process companies should follow to minimise the likelihood of a strike at their next AGM.
2016 has been the year of the high-profile strike, with the list of companies receiving an adverse remuneration report vote reading like a who’s who of corporate Australia.