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Thread: The Stockmarket

  1. #201
    Administrator Deej's Avatar
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    Quote Originally Posted by dr00 View Post
    so ive never been to the AGM of a listed company before and i want to go to paladin's meeting coming up on the 25th. whats the deal with these things? you just rock up and grab a seat? do you register when you get there? i havent seen anything about how to register beforehand so how do they know if theres going to be 10 people or 1000 people? is there likely to be many people? do you usually get a chance to "mingle" with management or anything like that?

    If the shares are held in your personal name, yes, you just rock up, register as you enter (likely the registrations will be handled by someone from their share registry IE Computershare).

    If the shares are held in joint names, your super account, or a company name, you will need to complete the proxy which would have been attached to your notice of meeting that you got in the mail, have all the signatories sign (IE the trustees of the super fund if joint, the other joint owner of the shares, or other director of the company if applicable) and elect you as their proxy. Send this form back to the company/share registry at least 48 hours prior to the meeting (so do it now), and then you rock up in person as the proxy and vote on behalf of the entity. A proxy appointed to attend and vote for a member has the same rights as the member to speak at the meeting and vote. Sometimes they will give you a coloured paddle that you can hold up in the air instead of hold up your hand, this is most common in very large meetings where they may be lots of visitors and a show of hands would be impossible to tell who actually has a voing right.

    Then you just grab a seat. You will get the opportunity to ask questions if you want which you will be invited by the Chair at the appropriate time.

    As mentioned you will get the opportunity to vote with a show of hands on each of the resolutions detailed in the notice of meeting. Only exception to this will be if they have standing orders (a procedure in which all general meetings for this company are to be run) which specify that all resolutions will be done by a poll rather than a show of hands (this could be in their constitution as a replacable rule also). This is most common with the larger companies just to save the hassle where lots of smaller shareholders flood the room and vote against all the resolutions which will force the Chair to sending the resolutions to a poll anyway. Saves time and hassel.

    Re asking questions of management, you will be invited to ask questions that pertain to the resolutions that were notified in the notice of meeting. It is actually a requirement of the corps act that a shareholder has the right to ask questions and be given reasonable opportunity to be heard. If you just want to have a chat to one of the management and not ask a formal question in the meeting then the best chance is usually after the formal business when the chair has closed the meeting, hopefully at that time he will say something like “that’s the end of formal business ladies n gents I will now officially close the meeting, and I invite you to stay for a coffee and informal discussion”. This is your best chance for an informal chat with the directors/management.

    All of the above is on the basis that you are a shareholder of course which you didnt mention. If you are not a shareholder, just rock up and register as a visitor. In most constitutions the Chair has every right to refuse visitor entry to the AGM. The only people that he must let into the meeting are shareholders, their elected proxies, directors, and the auditors. Anyone else he can kick out but I have never seen this happen before (apart from a Wesfarmers meeting yonks ago when a billion greenies rocked up and wanted to save the trees).

    So on the eight day, after wasting time faffing about with unimportant guff like heaven & earth & the waters & sky & creatures [& having a wee kip] & man.... God created PSB (GenesiSX-R1000)

  2. #202
    Member peter600's Avatar
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    You might even get a cuppa tea and some cheese and gherkin samwitches, too!

  3. #203
    Member vincible1's Avatar
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    Great post Deej, summarised well.
    If you want to have a real chat with management on a personal level just find out where they play golf.
    I've played at Cott when Twiggy was swinging his 6 billion dollar arms around.
    Mind you he did more damage to the earth in the bunker on the 3rd than FMG have since production.
    It's more fun to ride a slow bike fast than a fast bike slow

  4. #204
    Member Espresso Avenger's Avatar
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    The last AGM I went to I felt rather out of place.
    I was made to feel like an outsider and that although I was (and still) a shareholder, I didn't belong there. EVERY other person there, voter or on the board, seemed to know each other rather well already.
    I also found it frustrating that My vote was going to count for nothing.
    My hand in the air voting against, with 5 other voters going with the motions.
    Good odds there considering how little I actually own. but all motions are either "non-binding" so management only has to treat it as an indication as to what people want, or issuing 10 - 15% more shares in the company to raise capital.
    They are aloud to do this, but only up to 15% with out shareholder approval.
    With the vote getting the thumbs up, they can do this as many times a year as they like.
    and all of a sudden my 0.5% is now 0.1% of the company.........

    And if thats not bad enough all I got was a average cup of tea and 2 bits of shortbread. No Sandwiches, no fancy stuff... shame on them.

  5. #205
    Administrator Deej's Avatar
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    it's a shame, you shouldn't have been made to feel like that.

    On a show of hands your vote is still worth the same as the largest shareholder in the room. But in the end, really all your vote is worth is 1 vote for every ordinardy share, so yeh small investors are a definite minority in that regard and frowned upon by the board if u vote agaist somthing just to be difficult particularly if it is clearly different to the intentions of the major shareholders.

    The only non binding resolution is the remuneration report which came in about five years ago. Has to be voted on but as you say.. The resolution is more just a measure of how pissed off the shareholders are rather than have any ability to force a change.

    As for capital raisings, yeah. Dilution can be a pain. A company can raise under the 10/12 rule (10% every 12 months) without member approval, but anything over that and it has to go to members. But hey... No biggy in being diluted provided you own less of a share of something and that something is doing most awsm shit as a result of deploying their new capital yeh?

    Scuse typos. On iPhone.

    So on the eight day, after wasting time faffing about with unimportant guff like heaven & earth & the waters & sky & creatures [& having a wee kip] & man.... God created PSB (GenesiSX-R1000)

  6. #206
    Member Fastgirl's Avatar
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    Oneday Deej...your brains gunna asplode with all this information you know...sheesh man, is there anything you dont know about??
    Quote Originally Posted by Red_is_Best View Post
    hahah I hate it when they do that and you make some noises like you had it done just last year, then they give you that look, like you are a bad vagina owner and you should take better care of it!

  7. #207
    Member Kaido's Avatar
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    BCC 10cents! just hit 100% profit

    still holding

  8. #208
    Member ReCon's Avatar
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    Looks like Pips is putting on the piss this weekend after BCC's effort this week
    Well after months of my broker [re friggin send me broker] saying to hold onto my SUR shars , after the AGM, I'm done. All promise by the corporate 'advisors' means shit , these blokes are in sleep mode. Taking my 20% LOSS , AND MOVING ON. Should have stuck to my 8% turnover point , but , once again, I failed to adhere to my own rules.
    Seems I am a slow learner.
    Am looking at STO if the oi price drops , and they drift a little more downwards, and maybe a small possie in ESG, with a possible rerating on the horizon. This is definitlely a speccy , as there is a definite downside to this one if things go against them.

    Well ,it's been average week in ze market for me ,but business was good, so no reason to grizzle. Off to the fourby show tomorrow, so may blow some savings on shit 'n' glitter
    So , now it's back to the thread, must be time for a few new traders/investors to throw up a few new shares for us to gnaw on! AVAGOODWEEGEND...

  9. #209
    Member peter600's Avatar
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    My speccies are FUT [0.09], EDE [0.075], ILF [0.166] and MEO [0.56].
    Those are my buyin prices.
    Last edited by peter600; 14-11-2009 at 01:29 AM.

  10. #210
    Member ReCon's Avatar
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    Bout 50/50 on those sor far Pete. If you get out early enough ,and profit enough on the others , you'd take those odds every time!
    You breezed over Eastern Stars data yet? 'Nuther speccy , but then again...
    Ok , time for a new name to throw one in the tin!
    If I keep having to trade to keep this thread going ,I'm gunna need to sell myself in Northy at night to pay for it ll!
    Chuck one up , and why you bought or sold. [Except PiPs, 'cause he is too far ahead atm {bastard} lol ]

  11. #211
    Member peter600's Avatar
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    the plan is ILF to refinance shortly and go to at least 30c
    FUT strikes CSG in America and goes to 5c
    EDE to get its engine into every bus in India and go to 25c
    MEO gets farmin this week and goes to $1.50!!!!!

    ESG was a buy from someone at 1.05 so must have a look at that.
    Altho I'm trying to decouple out of specs into boring , long term quality.....

  12. #212
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    CAQ shares up 23% today

  13. #213
    Member Espresso Avenger's Avatar
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    Looking over their chart does not seem at all suprising for that company.
    But their volume is all over the place and so is their price.
    I don't think I would get involved unless I had money I would be just as comfortable taking to the TAB.

  14. #214
    Member Espresso Avenger's Avatar
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    Well done Pips with BCC
    28.05% friday and today so far...
    now at 13c (up another 23.81%)

    Oh to have gotten in Late September..... *kicks self*

  15. #215
    Member Kaido's Avatar
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    Quote Originally Posted by Espresso Avenger View Post
    Well done Pips with BCC
    28.05% friday and today so far...
    now at 13c (up another 23.81%)

    Oh to have gotten in Late September..... *kicks self*
    thanks i was lucky to get in a 5cents. however i still think there is money to be made they have a report due out of the 24th of November regarding one of their projects. should see the price increase again.

    Im currently holding NWE, was down to the 2.9cents-3cents last mark, i bought some more at 3cents. today has hit 3.6cents. Looking to bounce back to were it was in the 4cents mark about a month

  16. #216
    Member ReCon's Avatar
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    Nice work Pips! Geez I would like to see a Fib retrace on this one , even to 38%, just to see if it is a creditable run , or a bit of a pump up.
    The chart to me just SEEMS a little hot at present. Then again, means nada in this market. Either way , a Tambourini could be on the cards for Pip if this keeps hammering along..
    I also believe I may have stumbled across Pete on another share forum today, loitering in the STO thread?[you devil ,you lol]
    Rang my broker today to finalise a few trades. Seems he was too busy to call during the trading period , even though I only gave him 5 hours. Looks time to find a new one.
    Any one use a broker whom you are happy with?
    Would prefer a small operator,with a smallish customer base, who is on the market all day, and actually LIKES to make a trade and get paid.
    I get sidetracked alot with work commitments , so I need someone to watch for me , but also make a few suggestions as well. Am not expecting miracles, but seriouly don't favour laziness

    If you are a broker , and loitering in the background , feel free to pm me, or post some details here , and I will give you a call.
    Anyway, back to my charts, will watch to see how things pan out intermittently. Planned to roll SUR over today , but , as I got too involved in work commitments , I seem to have lost .3 on the bell, thanks to my supposedly overworked broker.

    I know I am supposed to be responsible for my own $$ , but at $106- a trade, and with 4 trades to be finalised , it was worth a phone call I believe. I can miss trades beautifully by myself as it is , at bloody $15 a trade!!! Sheeeet...

  17. #217
    Member Espresso Avenger's Avatar
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    I am not completely sure there is a need to hire a broker for that...?
    I don't know about everyone else, but I have always been able to set a bunch of "What if" parameters on my trades using westpac broking on via the net.
    Either set a buy or sell order at a predetermined amount (rather then at market value).
    OR I can use a different command to not put my oder on the market until *blar blar blar* happens.
    So as almost pointless as it may seem, I can hold a share at $2.50, then tell it to wait until the price drops to $2 and place a sell order at $2.20
    or buy more, and at the same time have a what if command set if the price goes above my target amount.

    Wouldn,t this make your broker obsolete?


    Looking at BCC tonight, late this afternoon they have just put out a rather interesting options offer.....
    Last edited by Espresso Avenger; 16-11-2009 at 09:18 PM.

  18. #218
    Member ReCon's Avatar
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    You are indeed correct EA, however there are times when stops , or limit orders don't cover my trading plans.
    A broker is another implement in the trading toolbox , and sometimes just being 'on market' all day , every day , has distinct advantages over a 'casual' observor that I am on much of the week day.
    Also , sometimes , another opinion can be extemely valuable when making a buy , or sell . In theory a broker is outside the trade , and hopefully isn't under the same pressures that I am under , so can give a reasoned logic as to whether to buy/sell , or hold. Sometimes , I am a moody little bitch , so a level head when I am under pressure elsewhere, can be a lifesaver

  19. #219
    Member ReCon's Avatar
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    Oops , re BCC, am yet to figure if these oppies are institutional , or available on market. Am not very strong with opps, so your take on them would be appreciated. Is it dilutionery, and if so , by much? Will be interesting how the 'retail' investor lobby digest it short term...

  20. #220
    Member peter600's Avatar
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    etrade's conditional orders don't trigger if a stock moves too far from the order price.
    which is good if something's shot up but bad if it's a big move down....

    yes, I lurk in the copper as well. man, it's noisy in there!
    esp. today in the MEO threads....

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