Ownership Matters

ASX 300 focused governance research provider for institutional investors

[Ownership Matters @OMgovernance]

https://t.co/Cp19yGK9ZV Skill, judgement and principled motivation are the key attributes that investors want in directors. Those factors are hard to observe from the outside.

[Ownership Matters @OMgovernance]

Roughly half of all ASX 300 directors have less than one year worth of fees invested in their company's shares. It's hardly alignment.

[Ownership Matters @OMgovernance]

https://t.co/C2SXZuP40k Our study looked at the trends in the make up of ASX 300 boards over time - you can download it at this link

[Eric Tlozek @EricTlozek]

SA Catholic Schools received $85 million in JobKeeper, the subsidy meant to keep people employed in the pandemic. That’s far more than the Catholic sector in other states. A new analysis shows they banked most of it: https://t.co/T5iZQCJNMQ

[Ownership Matters @OMgovernance]

Too right. @BCAcomau disgraced itself with its intervention to silence the proxy advisory industry. At least @JEChalmers has more clues than poor old @JoshFrydenberg - he should see these dopes for what they are.

[Bernard Keane @BernardKeane]

This should be denormalised.

@BCAcomau is a lobby group for some of the most rapacious, tax dodging corporate miscreants in the world. They should not have privileged access to senior government officials.

If @JAWestacott wants to lobby govt, let her write to her MP.

[Ownership Matters @OMgovernance]

@davidbewart https://t.co/lilWnjFUy4

[ABC News @abcnews]

Millions in JobKeeper went to private schools that grew their surpluses https://t.co/jNtgnrk1eQ

[abc730 @abc730]

7.30 can reveal that hundreds of millions of dollars in JobKeeper went to private schools, while these same schools were increasing their incomes on the way to a surplus of almost one billion dollars. #abc730 @DanConifer #auspol

[Ownership Matters @OMgovernance]

Probably the first and last time our research will be referred to by a Nobel Prize winner Thank @ProfPCDoherty - feel free to retweet our results

[Ownership Matters @OMgovernance]

It was a minority of private schools who took $767m JobKeeper - but they were some of the wealthiest of all. They had combined net assets of $8.6b. $129m went to 22 schools who had average of $25m each set aside for rainy days in their Foundations. Not a single dollar returned.

[Ownership Matters @OMgovernance]

@ProfPCDoherty Feel free to retweet our results of this research available @omgovernance

[Ownership Matters @OMgovernance]

JobKeeper had no clawback mechanism, so it was a sugar hit for private school profits. Especially the lucky punters in the 194 schools whose revenue (excluding JobKeeper) actually rose in 2020. Those schools got $315m in JobKeeper and their profits rose by $361m. Happy days!

[Ownership Matters @OMgovernance]

Profits in one in five private schools who pillaged JobKeeper rose by $522m in 2020 - a 145% boost! We looked at the audited accounts of 338 school groups who got $732m in JobKeeper - not one experienced a 30% decline. $315m went to 194 schools whose revenue rose! @abc730 tonight

[Ownership Matters @OMgovernance]

@JamesSt5038 No. That was a miscount. He voted in favour of the oppressive laws

[Ownership Matters @OMgovernance]

Vote in the Senate was actually 29-25 - there is a Lib with a conscience.

[Ownership Matters @OMgovernance]

Not wizardry, sorcery. There are 40m AGL shares currently on loan to MCB's financier. Any lender is also transferring their rights to vote for a pitiful fee (19 bpts) even though it could defeat the scheme. These shares can be recalled on 3 days notice.

[Financial Review @FinancialReview]

As AGL management and shareholder groups raise alarm about the way in which Mike Cannon-Brookes has assembled his 11.3 per cent stake, the billionaire insists there’s ‘no financial wizardry’. https://t.co/oaXjVwxbZF

[Ownership Matters @OMgovernance]

@OakeyJim Happy to confirm that for you - DM name of school involved

[Ownership Matters @OMgovernance]

Chutzpah on steroids! Fresh from the Senate rejecting his $11m fines for proxy advisers that missed emails & 5 yr jail time for unlicensed proxy advice @JoshFrydenberg now claims "The Coalition has always prioritised eliminating unnecessary regulation..". Yeah, nah.

[Ownership Matters @OMgovernance]

Vale "Treasury Laws Amendment (Greater Transparency of Proxy Advice) Regulations 2021" a.k.a @JoshFrydenberg's Pyongyang Proxy Laws - we hardly knew you. If anyone is interested in the film rights - it's a bad movie with a magnificent ending....Now it's back to work.

[Ownership Matters @OMgovernance]

What he said!

[Andrew Leigh @ALeighMP]

The Liberals’ attack on investors & shareholder capitalism has been defeated. Proxy advisers, which hold big firms to account, would’ve faced a $11m fine for not sending an email. By 29-25, the Senate just rejected these draconian regulations https://t.co/qKuCB4s1Ob #auspol

[Ownership Matters @OMgovernance]

@AICDirectors - buy a new bugle. We already have an AFSL - drop the fantasy we are unregulated. This was about Australian advice - 4 firms, 30 employees, $5m in total rev. Those duties already applied. Why did you support the new ones? Like $11m fines for missed emails? Thoughts?