Live: ASX on the rise, WiseTech shares slump as board reviews Richard White allegations, Qantas pays out illegally sacked workers

by Admin
October 20, 2024

Mon: Argo, Amotiv/GUD, Nick Scalli, Stockland

Tue: Audinate, Globe, Magellan, Peter Warren Automotive, SG Fleet, Shine Justice, Suncorp, Transurban

Wed: Fletcher Building, National Storage REIT,Mystate, St Barbara

Thu: APA, Articore, Brambles, Challenger, Deterra, IAG, McMillan Shakespeare, Reece, Reliance Worldwide, Santana Minerals, South 32, Super Retail Group

Newmont (Q3 results), Resmed (Q1 results)

Fri: Adairs, Aussie Broadband, Car Group, Cleanaway, Cochlear, Coventry Group, Helloworld, Qantas

On the reckoning of The Mayne Report’s website’s excellent AGM page (indeed the whole website is a terrific rabbit-hole to wander around) there are more than 50 AGMs being held by Australian and Australian/NZ dual listed corporations this week.

You can start your week with Argo Investments, assuming you can get to Adelaide by 10am today (no online option) and wrap up with Car Group at 11am Friday in Melbourne, somewhat jet-lagged having flown back from Zimplats AGM in Johannesburg on Thursday evening.

There’s the threat of a bit of bloodletting by irate shareholders at a couple of meetings, the most obvious being Globe on Tuesday.

The streetwear/skateboarding fashion business has its virtual AGM booked in for 10am and scheduled a spill AGM for 11:30, so it seems the board knows what’s heading its way.

The troubled fund manager Magellan is also facing a spill motion (Tuesday) after last year’s remuneration report rejection but may escape having the board defenestrated on the basis that at least some changes have been made to way things operate, and executives are paid.

Challenger (Thursday) is facing a vote against its remuneration report and the Long-Term Incentive bonuses being offered to its CEO.

There are a couple of companies with dual Australian/US listings releasing quarterly results as well.

Newmont, the giant US goldminer with a local CDI listing after swallowing Newcrest reports on Thursday, as does the San Diego-based sleep apnoea specialist, Resmed.