Shareholder Activism

BE READY FOR WHEN THE ACTIVISTS CALL

Australia is second only to the USA for the number of companies targeted by activists each year, if you think it can’t happen to you, think again.

Ensuring you are prepared is critical

Monitor your register. Look for activist investors, over 80% of activism in Australia is home grown
Gather intelligence. Capture independent feedback from shareholders and key influencers
Assess Vulnerabilities. Be aware of what triggers activism – think like an activist – and know where you sit on the risk continuum

Effective engagement with key stakeholders matter

Activist Shareholders. Most are motivated to add value and improve shareholder returns
Institutional shareholders. Majority believe activism adds value to a target company and want evidence the Board is listening and talking to activists
Retail shareholders. Need to be brought on board through a well-orchestrated call campaign
Financial Media. Monitor the media, nominate a spokesperson to ensure consistent messaging

ACTIVISTS IN ACTION – MONTHLY ROUNDUP

CAPABILITIES

FIRST Advisers has been advising companies and working with activist shareholders for the past decade. This experience enables us to offer our clients a unique perspective, challenging preconceptions and developing a campaign strategy tailored to achieve success.

Clients choose FIRST Advisers because we combine this deep experience with our 24/7 commitment to media management, high-quality register analytics and in house shareholder engagement team, to deliver relevant and consistent information to the company’s shareholders.

RELATED SERVICES

BROCHURES

2018–2020 Activist Campaigns

SMILES INC

vs

CONCERNED
SHAREHOLDERS

Activist Campaign re Board Spill
(December 2020)

COLLINS STREET ASSET MANAGEMENT

vs

THORN GROUP

Activist Campaign re Board Spill
(November 2020)

OLIVERS
REAL FOOD

vs

CONCERNED
SHAREHOLDERS

Activist Defence re Board Composition
(October 2020)

CONTANGO INCOME GENERATOR

vs

WILSON ASSET MANAGEMENT

Activist Defence re Change in Investment Strategy
(September 2020)

CELSIUS RESOURCES

vs

CONCERNED
SHAREHOLDERS

Activist Defence re Board Composition
(December 2019)

SMILES INC

vs

TWO SEPARATE ACTIVIST GROUPS

Activist Defence re Board Spill
(May 2019)

BENJAMIN HORNIGOLD LIMITED

vs

TWO SEPARATE ACTIVIST GROUPS

Activist Defence re Board Spill
(May 2019)

NVOI LIMITED

vs

ROMANCE PACIFIC PTY LTD

Activist Campaign re Board Spill
(March 2019)

CAPRICORN METALS

vs

NEON CAPITAL & NERO RESOURCES

Activist Defence re Board Composition
(April 2018)

8IP

vs

Aurora Funds
Management

Activist Defence re Board Spill
(April 2018)

Metgasco

vs

M&A Advisory

Activist Campaign re Board Spill
(April 2018)

Kingsgate

vs

Metal Tiger

Activist Campaign
re Board Composition
(Dec 2017–Jan 2018)

2009—2017

1-Page vs Merchant Capital: Replacing the Board

Ardent vs Shareholder Group: Board Composition

Empire Oil & Gas vs previous CEO: Board Composition

ALE Property vs Caledonia: Board Composition

BPS Technology vs Alceon/LHC: Replacing the Board

Fund Manager Cooper vs Eureka Group Holdings: Board Composition

Molopo Energy vs Keybridge Capital: Defence Against Board Spill

Institutional Shareholders vs Praemium: Board Spill and Reinstatement of CEO

BP Foundation vs Bellamy’s Australia: Board Spill

Samuel Terry Asset Management Wind-Up of Aims Property Fund

CVC Limited vs Bionomics: EGM

LIM Advisors vs AMP Capital China Growth Fund: EGM 2016/2015

Carpentaria Exploration: Board Spills 2015/2014/2013/2012

Intrepid Mines: Board Spills 2015/2014/2013

CVC Limited vs Amadeus Energy: Board Composition

AAco vs Burton-Taylor and Roberts: Board Composition

Brisconnections vs Australian Style Investments: Wind up Resolution

Dragon Mining vs Eurogold Limited: Replacing the Board