The ASX 200 has a raft of additional AGMs and investor days this week. It is also the week of Black Friday, and the lead up to Cyber Monday.
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AGM season this year has seen its fair share of contentious and interesting meetings for S&P/ASX 200 Index (ASX: XJO) companies. This has included first strike votes against Kogan.com Ltd (ASX: KGN) and Lendlease Group (ASX: LLC), and the loss of two directors at Crown Resorts Ltd (ASX: CWN).
Outside of the ASX 200, but still dramatic, was the resignation of the chairman at Myer Holdings Ltd (ASX: MYR).
From an investors point of view, AGM season has allowed us to gauge how companies are recovering from the COVID-19 lockdowns, and get updates on recent news.
Here are a range of AGMs, as well as general investor days, that may make the news this week.
ASX 200 AGMs
Ampol Ltd (ASX: ALD) is using its investor day to discuss issues around its poor performing Lytton refinery. Market interest was piqued after BP plc (LON: BP) announced it would be closing its West Australian refinery, further underlining difficulties in the sector.
Ramsay Health Care Limited (ASX: RHC), Brickworks Limited (ASX: BKW), and TechnologyOne Ltd (ASX: TNE) are ASX 200 companies with an AGM on Tuesday. Of these, TechnologyOne has been in the news recently for its engagements with the Tasmanian Government, the Murray River Council, and Victoria University.
IOOF Holdings Limited (ASX: IFL) has seen its share price drop in the wake of an announcement to purchase MLC Limited from National Australia Bank Ltd. (ASX: NAB). In fact, investors have watched the share price for this ASX 200 company fall by 65% from a recent peak in October of 2017.
Medical imaging company Pro Medicus Limited (ASX: PME) will also be holding its AGM on Wednesday, on the back of a 5-year contract renewal for $8.5 million.
ASX 200 resource companies will be in the spotlight on Thursday. In particular, gold mining giant Evolution Mining Ltd (ASX: EVN), and rare earths miner Lynas Corporation Ltd (ASX: LYC). Also, Origin Energy Ltd (ASX: ORG) will be holding an investor day.
Origin Energy has been in the news a lot in recent time. In particular, it has curtailed drilling at its Queensland natural gas operations as a flow-on from COVID-19. The company is also investigating an export level hydrogen project in Tasmania.
Friday is of course ‘Black Friday’, a retail sales spectacular. Originating from the US, Black Friday is often such a high volume of sales that it puts retailers ‘in the black’. As part of a newer tradition, it is grouped together with ‘Cyber Monday’. This is going to prove to be an interesting period in 2020 given the impacts that COVID-19 have had on the discretionary retail sectors of the ASX 200.
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Daryl Mather has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Brickworks and Pro Medicus Ltd. The Motley Fool Australia has recommended Crown Resorts Limited, Kogan.com ltd, and Ramsay Health Care Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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