AGL Energy dumps demerger plan after 'opposition' from billionaire investor

The statement said the Board “continues to believe that the Demerger Proposal offers the best way forward for AGL Energy and its shareholders” but no longer thinks the path is available.

AGL Energy announced it would withdraw its demerger proposal in a statement on Monday. Picture: NCA NewsWire /Brendan Beckett “In these circumstances, the AGL Energy Board considers that it is in the best interests of AGL Energy shareholders to withdraw the Demerger Proposal.”

calibandog That would be at least one in four of all investors. That’s a very large number of shareholders.

Renewables could not run his computer farms for his business. How many private jets does this person have. We now see energy terror in the boardrooms. The person should look at his own company. Products that are shite and do not work properly.

Assuming Mike Cannon-Brookes will pay my power bill when it inevitably goes up?

Great news.

As long as he isn’t putting his hand up for govt subsidies - he has more than enough money to pay for whatever his heart desires 👍

Here we go again. Same people ripped down Nikola Tesla's free power tower connected to the aether that would've supplied the world with free energy so they could eventually use it against us through intimidation

Well done Mike. Fighting the fossils that fuel SKY's audience

💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚💚

It’s a cult.

Yeah so in the real world, we will start to look at NUCLEAR, happy days 😁👍

That's the end for Coal Power in Australia. With absolutely nobody backing it, the race is on to get out as quickly as possible.

Welcome to the 21st century, where everything is only ever about what a “small number” want!

How did he charge his iPhone in order to send the tweet? Hypocrite

The major parties also need to step up. Two billionaires have acted more decisively on decarbonisation than Labor & Liberal in 20 yrs. Coal is the past not the future.

‘Small number of voters’ huh? Yeah, sure. Companies often change their entire strategy based on a minority vote 🙄

👍 👏 mcannonbrookes ROCKS (non fossil of course)

He will switch off Gas to force transition. That’s Blackmail!

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AGL appears set to dump demerger plan, yielding to Mike Cannon-BrookesBoard to meet on Monday, with future of chief executive also up in the air if demerger is called off seemed to take the share price out of the death spiral As they should. Bravo Mike 👏🏻👏🏻👏🏻
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AGL Energy counts numbers ahead of demerger voteIt’s a big weekend for AGL Energy, with proxy reports due to land in coming days.
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AGL Energy considers dropping plan to demergeThe energy company is considering whether to not proceed with its planned demerger amid opposition from shareholders. Well well well
Source: FinancialReview - 🏆 2. / 90 Read more »

AGL demerger plan in doubt amid mounting oppositionAGL is considering walking away from its controversial plan to split up the company’s coal and retail divisions amid pressure from shareholders. NickToscano1 domp Woo hoo. Gooooo Mike! NickToscano1 domp Why is everyone so worried about a couple of small coal fired power stations in Australia, when China is building new ones by the dozen? Whatever reductions we make are instantly undermined by China's increase in emissions. The Wookie is only here to line his pockets.
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AGL demerger plan in doubt amid mounting oppositionAGL is considering walking away from its controversial plan to split up the company’s coal and retail divisions amid pressure from shareholders.
Source: theage - 🏆 8. / 77 Read more »

AGL in crisis as split set to be scrappedAGL Energy is set to scrap its proposed split after a relentless campaign by its largest shareholder, Mike Cannon-Brookes, throwing the country’s largest electricity generator deeper into crisis. I feel sorry for AGL shareholders, when their voice becomes meaningless because some rich dude wants to win. Mike Cannon-Brookes will be an excellent owner of AGL AGL was already in crisis MCB just stopped them from making it worse 👍🏻
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