PRINCIPLE 6: RESPECT THE RIGHTS OF SHAREHOLDERS
Communications with shareholders
The company places considerable importance on effective communications with shareholders. The company’s communications strategy promotes the communication of information to shareholders through the distribution of an annual report and half-year report, announcements through the ASX and the media regarding changes in its businesses, and the Chairman’s address at the annual general meeting. Wesfarmers also conducts live webcasts of major institutional investor and analysts briefings. These webcasts, together with annual and half-year reports, ASX and media releases, and copies of significant business presentations and speeches, can be accessed from the company’s website.
The company also provides shareholders with the opportunity to receive email alerts of significant announcements and advises of the availability of reports on the company’s website.
The company regularly reviews its communication strategy and underlying policies and processes to ensure effective communication with shareholders is maintained.
Annual general meeting
The company’s annual general meeting is a major forum for shareholders to ask questions about the performance of the Wesfarmers group. It is also an opportunity for shareholders to provide feedback to the company about information provided to shareholders.
In response to suggestions made by shareholders in 2006, the company has introduced an annual shareholder review, an easy to read summary of the annual report.
A number of shareholders have elected to receive the review in place of the annual report. Both reports are available from the company’s website.
Election to receive an electronic notification about the annual report
Following recent changes to the Corporations Act 2001, the company will be offering shareholders the option of receiving an email about the release of future annual reports instead of receiving a hard copy report. Further information about the election to receive electronic notification of future annual reports is provided as part of the material to be sent to shareholders for the 2007 annual general meeting.
