Proxy Advisory Report
NZXplorer Governance Standards v1.0.04
Vote FOR
0
Vote AGAINST
3
REFER
2
Flags Raised
Company Context
GRS Score
59.31/100 (Adequate)
Board Size
6 directors
Independence
83%
Gender Diversity
33% female
CEO Compensation
N/A
1-Year Return
3090.9%
Auditor
EY
VQS
27/100
Resolution Recommendations (7)
That Directors be authorised to fix the fees and expenses of Ernst & Young as auditors to the Company for the financial year ending 31 December 2024
No governance concerns identified based on available data.
That Ms. Vanessa Stoddart, who retires by rotation in accordance with clause 8.9 of the Constitution, be re-elected as a Director of the Company
No governance concerns identified based on available data.
That Mr. Andrew Brewer, who retires in accordance with clause 8.8 of the Constitution, be elected as a Director of the Company
No governance concerns identified based on available data.
That Ms. Felicity Underhill, who retires in accordance with clause 8.8 of the Constitution, be elected as a Director of the Company
No governance concerns identified based on available data.
That all work on the decommissioning of the Marsden Point Refinery be suspended once the safety of staff and contractors have been addressed, pending the delivery of an independent report by an appropriately qualified engineering firm, on the costs, benefits and estimated schedule of reinstating the refinery to operating capability, assuming market conditions, including operating costs and customer demand, that were in effect across 2017. That such report be allocated a budget of NZ$100,000 with a delivery time of 6 months from the time the contract is let. That the Board direct management to issue a request for proposals and seek invitations for tender for consideration within 2 months of the meeting date (30 April 2024). That the report be provided to all Shareholders with a recommendation from Management for consideration at a Special Meeting to be called within 25 working days of receipt of the Report
Flagged for review due to: Unclassified Resolution. Case-by-case assessment recommended.
Flags (1)
This resolution does not match any automated rule category and requires manual review.
That Mr Karl Barkley, who is nominated as a director by a Shareholder of the Company in accordance with Listing Rule 2.3.1, be elected as a Director of the Company
Flagged for review due to: Prior Election Support. Case-by-case assessment recommended.
Flags (1)
Karl Barkley received 1% support in their prior election, below the 80% threshold.
That Mr Daniel Reurich, who is nominated as a director by a Shareholder of the Company in accordance with Listing Rule 2.3.1, be elected as a Director of the Company
No governance concerns identified based on available data.
About this report
Recommendations generated by the NZXplorer Governance Standards (v1.0.0) rule engine. 34+ rules across 8 resolution categories evaluate board composition, remuneration practices, auditor independence, and capital management against configured governance thresholds.
Data sources: NZX company announcements, annual reports, AGM voting records, financial statements, and Notice of Meeting documents where available. Some data gaps may affect recommendation accuracy.
Important Notice
This report is automated governance analysis generated by a rules-based scoring methodology. It is not personalised financial advice, a recommendation to acquire or dispose of a financial product, or an investment recommendation within the meaning of the Financial Markets Conduct Act 2013 (NZ).
NZXplorer is not a Financial Advice Provider under the FMCA. Voting recommendations reflect the application of published governance standards to publicly available data and should not be relied upon as a substitute for professional advice. Shareholders should read the full Notice of Meeting and consult their own advisers before voting.
Methodology, thresholds, and data sources are disclosed in full. If you believe any data is incorrect, contact hello@nzxplorer.co.nz.
Data sourced from publicly available records. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.