Source: Bloomberg News By: Harry Brumpton An Australian billionaire’s success in forcing AGL Ltd. to scrap a breakup plan and its top executives to step down may shake the status quo between shareholders and companies in the region, particularly on climate issues. Atlassian Corp. founder......
Source: Financial Review By: Ben Harvey Ambitious targets to switch the Australian economy away from fossil fuels lack clarity, thwarting support from business and investors that could delay the energy transition, according to one of Wilson Asset Management’s top portfolio managers. Last week’s federal election......
Source: Financial Review By: Simon Evans The incoming chairman of ASX-listed A2B, which operates the 13Cabs taxi network, has launched a strategic review of operations and said long-serving CEO Andrew Skelton will leave the company after seven years. New chairman David Grant, appointed one day ago, said......
Source: Sydney Morning Herald By: Anne Hyland Turmoil has engulfed the board of national taxi group, A2B, with its chairman and chief executive quitting in the same week, following a shareholder backlash over a controversial property deal with a wealthy Sydney family. Andrew Skelton, chief......
Source: Sydney Morning Herald By: Anne Hyland The chairman of listed taxi group A2B, which operates nationally with brands such as 13cabs and Silver Service, has announced his retirement, following a shareholder revolt over a controversial property deal that involved one of Sydney’s wealthiest families.......
Source: Financial Review By: Gabriel Radzyminski Whether we realise it or not, most Australians have an interest in the ability of shareholders to hold the directors of the companies we own to account. For most of us, this is through our superannuation or pension products.......
Source: Sydney Morning Herald By: Anne Hyland A2B, the listed taxi group, which operates nationally with brands such as 13cabs and Silver Service, is facing a shareholder revolt over a planned property deal, and caught in the middle is one of Sydney’s wealthiest families. For......
Source: Financial Review Two of the biggest investors in A2B, formerly known as Cabcharge, will vote against the re-election of Paul Oneile as chairman. A2B, formerly known as Cabcharge, is facing a shareholder revolt in which two of its biggest investors will vote against the re-election......
Source: Financial Review A2B will swap a $57 million property for a $135 million property. But will be it enough to prevent two big shareholders voting against chairman Paul Oneile. A2B, formerly known as Cabcharge, will face off with frustrated investors at Thursday’s annual general meeting from......
At the time of investment, A2B’s share price was underpinned by its valuable property holdings. Sandon Capital believes significant value can be unlocked through operational improvement, improved capital allocation and strategic changes.
At the time of investment, conventional thinking was that this was a ‘failed’ or ‘failing’ company. Whilst this may have been partially true of some of its legacy brands, the market completely overlooked the enormous potential of the City Chic brand.
Contrary to board and broker consensus, Sandon Capital believed a lucrative royalty was being significantly undervalued by the market.
Fleetwood was perceived as a mining services company with a number of stranded assets that had failed to deliver consistent profits.
Sandon Capital saw the potential for a turnaround in CYG’s performance with a change in governance and a strategic shift in operations and capital management.
Sandon Capital believed that changes in the operational and capital management strateges would lead to improved performance and a share market rerating.
Sandon Capital saw the opportunity to halt a futile strategy of ploughing more cash into a failed initiative.
Any company will ultimately bend to the will of the majority of shareholders, says the market-beating fund manager.
Activist fund managers have the potential to create even more value from downtrodden companies as a result of the coronavirus turmoil, according to Independent Investment Research, because the timing is extremely favourable for a turn of fortunes.
The forces behind the uptick in shareholder activism have been building for a decade. In this article Gabriel Radzyminski and other experts share their views.
In this Firstlinks article Gabriel Radzyminski, Sandon Capital Founder, Managing Director and Portfolio Manager, describes how activist investing plays an important role in building the efficiency of Australian capital markets and in protecting and enhancing common shareholder wealth.
Watch the Australian Financial Review panel discussion, including panel member Gabriel Radzyminski.
Watch the SALT Talks interview with Rachel Pether.
Source: Financial Review By: Gabriel Radzyminski Whether we realise it or not, most Australians have an interest in the ability of shareholders to hold the directors of the companies we own to account. For most of us, this is through our superannuation or pension products.......
Download our response to draft legislation on Australian Government Treasury Department’s proposed reforms to allow virtual AGMs....
Source: The Australian Financial Review. By: Michael Roddan. Treasury’s proxy adviser reforms will “further entrench underperforming listed company directors”, reduce management accountability and weaken shareholder rights, Sandon Capital founder Gabriel Radzyminski says. Treasurer Josh Frydenberg’s proposed overhaul of the proxy advice sector would shield directors and management who oversee......
Download our submission to the Australian Government Treasury Department’s Consultation Paper on greater transparency of proxy advice, April 2021....
Source: The Australian Financial Review. By: Chanticleer. Chip, chip chip. Under the cover of COVID-19, the federal government is chipping away at the rights of small investors – the same small investors that helped it retain office at last year’s election. This is perfectly illustrated......
Source: The Australian Financial Review. By: John Kehoe. Companies will face softer financial disclosure rules for a further six months from Wednesday under a COVID-19 regulatory shield extended by Treasurer Josh Frydenberg, fuelling a brawl between supportive directors and investors who warn the weakening will......