Proxy Advisory Report
NZXplorer Governance Standards v1.0.03
Vote FOR
1
Vote AGAINST
1
REFER
4
Flags Raised
Company Context
GRS Score
66.21/100 (Good)
Board Size
11 directors
Independence
45%
Gender Diversity
36% female
CEO Compensation
$1.0M
1-Year Return
3266.3%
Auditor
Grant Thornton
VQS
93/100
Resolution Recommendations (5)
To re-elect Stewart Moss as a Director.
Vote AGAINST recommended due to: Board Independence.
Flags (1)
Board independence is 45% (5/11), below the 50% minimum. Non-independent directors may face opposition.
To elect Mark Dewdney as a Director.
Vote FOR with noted concerns: Board Independence.
Flags (1)
Board independence is 45% (5/11), below the 50% minimum. Non-independent directors may face opposition.
To elect Hayley Gourley as a Director.
Vote FOR with noted concerns: Board Independence.
Flags (1)
Board independence is 45% (5/11), below the 50% minimum. Non-independent directors may face opposition.
Increase the pool of funds available for the remuneration of Directors by $83,000 per annum.
Flagged for review due to: Remuneration Disclosure Quality. Case-by-case assessment recommended.
Flags (1)
Remuneration disclosure score is 2/15, below the 5-point minimum. Insufficient disclosure limits shareholders' ability to assess pay.
Re-appointment of Grant Thornton as auditor and authorise Directors to fix remuneration.
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.