Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Platinum Investment Management Limited    PTM   AU000000PTM6

PLATINUM INVESTMENT MANAGEMENT LIMITED

(PTM)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 01/22
4.12 AUD   -0.72%
01/08Platinum Asset Management Discloses End-2020 Funds Under Management
MT
01/08PLATINUM INVESTMENT MANAGEMENT : Funds Under Management
PU
2020PLATINUM INVESTMENT MANAGEMENT : Funds Under Management
PU
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Platinum Investment Management : AGM Notice and Proxy form

10/14/2020 | 06:40pm EST

All general correspondence to: Computershare Investor Services Pty Limited GPO Box 2975 Melbourne Victoria 3001 Australia

Enquiries (within Australia) 1300 850 505 (outside Australia) +61 3 9415 4000 Facsimile +61 3 9473 2500 www.investorcentre.com/contact www.computershare.com.au

*L000001*

Dear Shareholder

I am pleased to invite you to the Annual General Meeting (AGM) of Platinum Asset Management Limited (Company), which will take place at 10:00am (AEDT) on Friday, 20 November 2020.

In light of the evolving circumstances relating to the COVID-19 pandemic and to ensure your safety, the AGM will be held as a fully virtual meeting via an online platform which is accessible at:

https://web.lumiagm.com/312386501.

The online functionality offered for the AGM will provide an easy and convenient way for shareholders to view the AGM live. Shareholders will also be able to ask questions and vote during the meeting. The Company will appoint a moderator to collate any questions received during the meeting and to direct questions to the Chairman, directors or auditor (as the case may be). A guide on how to use the online facility is available at: www.computershare.com.au/virtualmeetingguide. You may also submit questions in advance of the meeting by emailing invest@platinum.com.au.

Enclosed are the Notice of Meeting, Explanatory Memorandum, Voting Information and the Proxy Form.

The Board advises shareholders that there are a number of important resolutions to be considered at the AGM and recommends that shareholders read the Notice of Meeting carefully. In particular, shareholders will be asked to vote on the re-election of Guy Strapp and Stephen Menzies as Directors of the Company, the appointment of Ernst & Young as the auditor of the Company and the adoption of the Company's Remuneration Report for the financial year ended 30 June 2020. A summary of the report is outlined in the Explanatory Memorandum on page 5.

You may, and are encouraged to, enter your vote on the resolutions ahead of the AGM by completing and returning the enclosed Proxy Form no later than 10.00am (AEDT) on Wednesday, 18 November 2020 in one of the ways specified in the Voting Information.

Yours faithfully

Joanne Jefferies

Company Secretary

15 October 2020

Samples/000001/000001

NOTICE OF ANNUAL GENERAL MEETING

Notice is given that the Annual General Meeting (AGM) of Platinum Asset Management Limited (Company) will be held on Friday, 20 November 2020 commencing at 10:00am (AEDT).

In light of the evolving circumstances relating to the COVID-19 pandemic and to ensure your safety, the AGM will be held as a fully virtual meeting via an online platform.

Shareholders will be able to view the AGM live as well as vote and ask questions during the meeting by joining the webcast of the AGM using the following link: https://web.lumiagm.com/312386501

A guide on how to use the online facility is available at: www.computershare.com.au/virtualmeetingguide

The Notice of Meeting should be read in conjunction with the accompanying Explanatory Memorandum, Voting Information and Proxy Form, which form part of this Notice of Meeting.

The business to be considered at the AGM is set out below.

BUSINESS OF THE MEETING

  1. Financial and Statutory Reports

The first item of business is to receive and consider the Company's and the entities it controls (Consolidated Group), Financial Report, Directors' Report and Auditor's Report for the financial year ended 30 June 2020, which is available on the Company's website at https://www.platinum.com.au/PlatinumSite/media/Financial-Statements/ptm_0620.pdf

Note: There is no requirement for shareholders to approve these reports.

  1. Items for Approval

Resolution 1 - Re-election of Guy Strapp as a Director

To consider and, if thought fit, to pass the following resolution as an ordinary resolution:

'That Guy Strapp, retiring from the office of Director in accordance with rule 3.3 of the Company's Constitution, be re-elected as a Director of the Company.'

Resolution 2 - Re-election of Stephen Menzies as a Director

To consider and, if thought fit, to pass the following resolution as an ordinary resolution:

'That Stephen Menzies, retiring from the office of Director in accordance with rule 3.6(b) of the Company's Constitution, be re-elected as a Director of the Company.'

Resolution 3 - Appointment of Ernst & Young as the Company's auditor

To consider and, if thought fit, to pass the following resolution as an ordinary resolution:

'That, subject to the consent of the Australian Securities & Investments Commission to the resignation of the current auditor of the Company, to appoint Ernst & Young, having consented in writing and been duly nominated in accordance with Section 328B of the Corporations Act 2001, as the auditor of the Company.'

1

Resolution 4 - Adoption of the Remuneration Report

To consider and, if thought fit, to pass the following resolution as an ordinary resolution:

'That the Remuneration Report of the Company for the financial year ended 30 June 2020 be adopted.' Note: The vote on this item is advisory only and does not bind the Company or its Directors.

By order of the Board

Joanne Jefferies

Company Secretary

15 October 2020

2

EXPLANATORY MEMORANDUM

Introduction

This Explanatory Memorandum is intended to provide shareholders with important background information in relation to each item of business. It should be read in conjunction with the Notice of Meeting.

A. Financial and Statutory Reports (not voted on)

The Consolidated Group's Financial Report, Directors' Report and Auditor's Report for the financial year ended 30 June 2020 will be laid before the AGM, as required by section 317 of the Corporations Act 2001 (Cth) (Corporations Act). The Corporations Act does not require a vote of shareholders on these reports.

The Consolidated Group's 2020 Annual Report (which includes the Financial Report, Directors' Report and Auditor's Report) is available on the Company's website at: https://www.platinum.com.au/PlatinumSite/media/Financial-Statements/ptm_0620.pdf

Shareholders will be given a reasonable opportunity during the AGM to ask questions and make comments in relation to the financial and statutory reports, and the business and management of the Company.

Shareholders will also be given a reasonable opportunity to ask a representative from the Company's auditor, PricewaterhouseCoopers, questions relevant to the conduct of the audit, the preparation and content of the Auditor's Report, the accounting policies adopted by the Company in the preparation of financial statements and/or the independence of the auditor in relation to the conduct of the audit.

B. Items for Approval

Resolution 1 - Re-election of Guy Strapp as a Director

Rule 3.3 of the Company's Constitution provides that the Board may appoint a person to be a Director at any time except during a general meeting of shareholders. Any Director so appointed, automatically retires at the next annual general meeting and is eligible for re-election at that general meeting.

Guy Strapp joined the Board as an independent Non-Executive Director, member of the Nomination and Remuneration Committee and member of the Audit, Risk and Compliance Committee on 27 August 2020.

Mr Strapp is retiring from office, in accordance with rule 3.3 of the Company's Constitution, and offers himself for re-election. If re-elected, Mr Strapp will become Chairman of the Company with effect from 21 November 2020.

A summary of Mr Strapp's qualifications and experience is detailed below.

Guy Strapp BCom, Dip AF&I, CFA

Independent Non-Executive Director since 27 August 2020

Mr Strapp has over 35 years' financial services experience having worked in a variety of roles in Australia and abroad at Bank of America, JP Morgan Investment Management, Citigroup Asset Management and BT Financial Group. More recently, he held the positions of CIO and CEO of Eastspring Investments (formerly Prudential Asset Management) in Hong Kong. Mr Strapp brings to the Board his extensive local and international experience in asset management, gained on both the investment and distribution side of the business. Mr Strapp is also the Chairman for the Australian wealth manager, First Samuel Limited.

Board recommendation

Each member of the Board (other than Mr Strapp who has abstained) unanimously recommends that shareholders vote FOR the re-election of Mr Strapp as a Director of the Company.

Resolution 2 - Re-election of Stephen Menzies as a Director

Rule 3.6(b) of the Company's Constitution provides that a Director may retire and seek re-election at an annual general meeting before the time required by rule 3.6 (a).

Stephen Menzies joined the Board as an Independent Non-Executive Director on 11 March 2015. Stephen Menzies is the Chair of the Nomination and Remuneration Committee and member of the Audit, Risk and Compliance Committee.

3

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Platinum Asset Management Limited published this content on 15 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 October 2020 22:39:02 UTC


© Publicnow 2020
All news about PLATINUM INVESTMENT MANAGEMENT LIMITED
01/08Platinum Asset Management Discloses End-2020 Funds Under Management
MT
01/08PLATINUM INVESTMENT MANAGEMENT : Funds Under Management
PU
2020PLATINUM INVESTMENT MANAGEMENT : Funds Under Management
PU
2020PLATINUM INVESTMENT MANAGEMENT : Notification of Change of Auditor
PU
2020PLATINUM INVESTMENT MANAGEMENT : 2020 AGM Presentation Slides
PU
2020PLATINUM INVESTMENT MANAGEMENT : Proxies Received & Resolutions Passed at the AG..
PU
2020PLATINUM INVESTMENT MANAGEMENT : Chairman's Address to Shareholders
PU
2020Platinum Asset Management's Funds Under Management Increase in October
MT
2020PLATINUM INVESTMENT MANAGEMENT : AGM Notice and Proxy form
PU
2020PLATINUM INVESTMENT MANAGEMENT : Appendix 3X - Initial Director's Interest Notic..
PU
More news
Financials
Sales 2021 262 M 202 M 202 M
Net income 2021 134 M 103 M 103 M
Net cash 2021 123 M 94,8 M 94,8 M
P/E ratio 2021 17,9x
Yield 2021 5,36%
Capitalization 2 390 M 1 844 M 1 842 M
EV / Sales 2021 8,64x
EV / Sales 2022 8,76x
Nbr of Employees -
Free-Float 48,4%
Chart PLATINUM INVESTMENT MANAGEMENT LIMITED
Duration : Period :
Platinum Investment Management Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PLATINUM INVESTMENT MANAGEMENT LIMITED
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 11
Average target price 3,57 AUD
Last Close Price 4,12 AUD
Spread / Highest target 4,37%
Spread / Average Target -13,3%
Spread / Lowest Target -34,5%
EPS Revisions
Managers and Directors
NameTitle
Andrew Mcrae Clifford CEO, Executive Director & Chief Investment Officer
Robert Sidoti Operations Manager
Andrew Stannard Chief Financial Officer & Executive Director
Andy Kirwan Technology Head
Kerr William Stephen Neilson Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
PLATINUM INVESTMENT MANAGEMENT LIMITED0.98%1 844
ST. JAMES'S PLACE PLC4.81%8 668
SEI INVESTMENTS COMPANY3.36%8 587
AMP LIMITED-0.32%4 121
IOOF HOLDINGS LTD6.25%1 872
IIFL WEALTH MANAGEMENT LIMITED1.72%1 236