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Perennial Value Management Limited

PRI reporting framework 2017

You are in Direct - Listed Equity Active Ownership » (Proxy) voting and shareholder resolutions » Outputs and outcomes

Outputs and outcomes

LEA 23. Percentage of (proxy) votes cast

23.1. For listed equities where you and/or your service provider have the mandate to issue (proxy) voting instructions, indicate the percentage of votes cast during the reporting year.

Votes cast (to the nearest 1%)

99 %

Specify the basis on which this percentage is calculated

23.2. Explain your reason(s) for not voting certain holdings

23.3. Additional information. [Optional]


LEA 24. Proportion of ballot items that were for/against/abstentions

24.1. Indicate if you track the voting instructions that you and/or your service provider on your behalf have issued.

24.2. Of the voting instructions that you and/or third parties on your behalf issued, indicate the proportion of ballot items that were:

Voting instructions
Breakdown as percentage of votes cast
For (supporting) management recommendations
90 %
Against (opposing) management recommendations
6 %
Abstentions
4 %
100%

24.3. Describe the actions you take after voting against management recommendations.

          Perennial analysts continue to monitor all situations where it does not vote with management. If appropriate we will contact the board directly with our concerns to bring them to their attention.
        

24.4. Additional information. [Optional]


LEA 25. Shareholder resolutions

New selection options have been added to this indicator. Please review your prefilled responses carefully.

25.1. Indicate if your organisation directly or via a service provider filed or co-filed any ESG shareholder resolutions during the reporting year.

25.6. Additional information. [Optional]


LEA 26. Examples of (proxy) voting activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

26.1. Provide examples of the (proxy) voting activities that your organisation and/or service provider carried out during the reporting year.

Topic or ESG issue
          Director Independence (Imdex Limited)
        
Decision made by
Objectives

Promote new independent board members. 

Scope and Process

Engaged with company and voted against the re-election of a director. 

Outcomes

We voted against the resolution as the fees paid to a firm associated with Kevin Dundo make him an affiliate, we would prefer more independence

Topic or ESG issue
          Corporate Governance
        
Decision made by
Objectives

To promote shareholders rights.

Scope and Process
Outcomes

We voted against this proposal given this is not in shareholder’s interests as it would allow them to issue preference shares etc without shareholder approval, especially since the Board has a bad habitat of signing off on non-core acquisitions ie Dairy Farms, Mining camps

26.2. Additional information. [Optional]


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