The result of the postal ballot was announced at the annual meeting of shareholders held in Dannevirke on 13 December 2013. Approximately forty-nine percent (48.83 percent) of eligible votes were exercised in the directors’ election.
Alliance Group chairman Murray Taggart said that the forty-nine per cent turnout for the directors’ election was significantly improved over recent years and reflected the interest in the issue.
“It is encouraging to see the turnout which demonstrates that our shareholders are very much interested in who represents them at the board table.”
In 2012, the turnout for the directors election was 25 percent compared with 42 percent in 2011 and 30 percent in 2010.
The meeting also considered a non-binding shareholder resolution to appoint John Monaghan as an independent director under clause 17.8 of the company’s constitution.
Approximately 23.5 percent of eligible votes were exercised in the shareholder-initiated resolution either in person or by proxy.
The non-binding shareholder resolution was passed in a poll vote by a small margin.
The board is currently in the process of appointing an independent director to replace the position vacated by Owen Poole. The board is working with independent executive search consultants to identify suitable candidates.
Murray Taggart said that while the board has been focused on finding a candidate with the right skills and expertise, they will take into account the views expressed by those who voted for the resolution.
“We expect to be in a position to make the appointment early in 2014.”
The unsuccessful candidate was sitting director Jason Miller of Southdown who was first elected to the board in 2007.
Taggart thanked Miller for his commitment and contribution during his tenure on the board.
The results of the directors’ election postal ballot were:
Jason Miller – 20,034,201
Don Morrison – 20,555,396
Murray Taggart – 23,540,916