Insights

Here’s what happened at the Bubs Australia (ASX:BUB) AGM

The Bubs Australia Ltd (ASX:BUB) share price is trading flat on Monday after the release of its annual general meeting update…
The post Here’s what happened at the Bubs Australia (ASX:BUB) AGM appeared first on Motley Fool Australia. –

asx share price rise signified by baby with wide eyes and mouth signifying surprise

The Bubs Australia Ltd (ASX: BUB) share price is trading flat on Monday following the release of its annual general meeting presentation.

In afternoon trade, the infant formula, baby food, and vitamins company’s shares are fetching 71 cents.

What happened at the Bubs annual general meeting?

At the meeting the company warned shareholders that FY 2021 would be a challenging year because of the pandemic.

Nevertheless, it did have a success Double 11 (Chinese singles’ day) promotional period.

Bubs recorded Double 11 sales growth of 174% compared to the prior corresponding period. Management notes that sales on its Tmall Flagship store exceeded last year’s sales in the first hour of its campaign.

Bubs also revealed that it enjoyed significant growth on other platforms such as JD.com, VIP.com, and Kaola. So much so, Bubs Goat is now the number 3 imported Goat infant milk formula brand on Kaola ahead of the company’s two largest international competitors.

What about the future?

Management believes Bubs is well positioned to deliver sustainable long-term growth as it navigates through the disruption of the COVID-19 macro-environment.

It also notes that demand remains strong for its products “as Chinese parents continue to trade up to premium and authentic infant nutritional products.”

Looking further ahead, management believes the company is well-placed to achieve its long term growth targets.

It commented: “We have a clear vision across our three growth horizons to realistically aspire to a business turning over $400 million in five years’ time – a vision shared by our institutional investors who oversubscribed to the recent Share Placement.”

What happened with the shareholder votes at the annual general meeting?

While management has spoken very positively about the future, many of Bubs shareholders don’t appear pleased with the way the company has been run in recent times.

And while there are still some votes open and usable, as things stand, Bubs is about to narrowly avoid receiving a first strike against its remuneration report. According to the presentation, 20.21% of votes have been made against the renumeration report.

Furthermore, approximately 10.4% of votes have been made against the re-election of executive chairman, Dennis Lin, and 13.2% of votes were made against the issuing of options to CEO, Kristy Carr.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended BUBS AUST FPO. 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.

The post Here’s what happened at the Bubs Australia (ASX:BUB) AGM appeared first on Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!