Crikey & Maynereport.com founder # shareholder advocate # Ex LG Cr # Money Cafe Podcaster # Crikey & Intelligent Investor contributor.
Melbourne
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This Lloyd Moffatt chap writes a bit like Joe Aston. A very spicey take on Firmus (pay):
afr.com/markets/equity-marke…
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Who would have thought that private equity firm BGH would make a fortune running Albo's much loved urgent care clinics. Based on this AFR Street Talk leak (pay), it sounds like these management contracts are way too generous:
afr.com/street-talk/bgh-capi…
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The latest Money Cafe is out.
Grilled the great @AlanKohler on his ABC "retirement" and he grilled me on too many board nominations, amongst many other lively topics, including how we'd be terribly unpopular politicians:
intelligentinvestor.com.au/i…
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Stephen Mayne retweeted
Imagine being a market professional; looking at the Firmus IPO materials; understanding the market cap at listing was $44bn; and then giving a quote like this to the media 😳😳
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Stephen Mayne retweeted
Here comes the blame game
This is without fail - The kiss of death ☠️
When the AFR profiles you - the likelihood of the stock doing well exponentially goes lower 😆😆
$MGH was almost $7.00 when this was published
👇👇👇
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The SRG Global (SRG) physical AGM kicks off at 10am local time at Perth Yacht Club. Nice spot. Despite joining the ASX200 and having 6,000 shareholders, they're not even offering a webcast. Here are 6 potential questions someone could ask from the floor:
maynereport.com/articles/202…
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Wrap of the action at today's 50 minute REA Group virtual AGM. This should be a hybrid, no early proxy disclosure but no material protest votes either. Was debut AGM for new CEO Cam McIntyre: maynereport.com/articles/202…
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Stephen Mayne retweeted
Did the AFR kill this ipo before it even got away? 😆😆😆😆
Valuation was always up there - maybe they got too greedy! 👀
afr.com/street-talk/firmus-b…
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Puzzled why REA Group would announce Sally Bruce as a new indie director on Sept 23 and then not put her on the board until Nov 2, via a casual vacancy. Should have added her election as a late voting item today. She'll serve 11 months with no mandate: announcements.asx.com.au/asx…
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ASA rep Steve Van Emmerik asked some good questions at REA AGM. Here is chair’s response to his question challenging how Jellis Craig CEO Nick Dowling can be “independent”. He’s the agent on the board who provides re-assurance to other agents that REA won’t go direct to consumer.
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Because chair Hamish imposed a 2 question per resolution limit at 50min REA virtual AGM, had to direct this question regarding recruitment of new indie director Sally Bruce at the only director election resolution (Nick Dowling). Was surprised he took it & impressed with answer
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Overboarding REA forever chair Hamish McLennan makes the self-interested comment that “we like long term tenure at REA” and then declares that impressive Jellis Craig CEO Nick Dowling can stay “as long as he likes”. Clearly no commitment that this is Nick’s 4th and final term.
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For a CEO of real estate agents (Jellis Craig), ex banker Nick Dowling is impressive. They call him independent at REA when he’s strictly not as an agent rep on board, but he’s broader than that. Here he is riffing on rem matters today. He was also good on director recruitment.
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Didn't record it but the funniest line at REA was when new CEO Cam McIntyre was asked about a new Sydney competitor called Quiet List.
"Quiet List is very quiet, I haven't heard of Quiet List."
Quite!
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This was a good exit reflections answer from former Optus CEO Kelly Bayer Rosmarin as she bows out at REA after serving 5 years as an independent director. Chair Hamish was full of praise.
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Some potential written questions which might be lodged at the 9am REA Group AGM which kicks off 10 hours from now. Better get some sleep. Over and lights out: maynereport.com/articles/202…
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Stephen Mayne retweeted
Kudos to Viridis Mining (VMM) for today running the platform in full with no censorship on p16 of this notice of meeting for its physical AGM in Perth on Nov 4. Market cap is $613m. They've done 3 placements without an SPP for retail in just 13 months: announcements.asx.com.au/asx…
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