Skip to main content
We're here for you. Visit our COVID-19 help page for information on how we can help.
Close alert
Locate us 1300 236 344
Logon
Financial planningFuneral Bonds

Bendigo Bank moves to short-form shareholder review

13 July 2007 |Media centre

Bendigo Bank today announced it would alter its annual reporting arrangements in response to changes in the law regulating company obligations.

The Bank’s 50,000 shareholders will be provided with a 16-to-20-page Shareholder Review in place of a Concise Annual Report, which will no longer be produced.

The Bank will produce the following four short shareholder reports in 2007/08:

August   Shareholder booklet announcing 2006/07 profit result
September   2007 Shareholder Review
November   Shareholder booklet reporting on Annual General Meeting
February   Shareholder booklet announcing 2007/08 interim profit result.

All will be posted to shareholders (unless they elect not to receive them, or to receive them electronically) and all will be available on the Bank’s website, www.bendigobank.com.au.

The full Annual Report of around 130 pages will still be produced and posted on the Bank’s website in September. All shareholders will be advised when the full Annual Report is made available on the Bank’s website. Hard copies of the full Annual Report will only be sent to those shareholders who specifically request a copy.

Bendigo’s head of corporate affairs, Owen Davies, said the Bank believed shareholders would welcome the changes.

“We surveyed our shareholders earlier this year and the overwhelming response was for shorter, simpler annual reporting,” Mr Davies said.

“Until these law changes, we were required to mail an annual report to every shareholder, unless they advised they did not want one.

“This resulted in a lot of wastage. Even our “Concise” Annual Report ended up being 88 pages long in order to accommodate all the relevant reporting requirements. It was costly to produce and mail, and many reports were simply thrown away or skimmed through.

“We believe the new arrangements will provide shareholders with relevant, easy-to-read information while vastly reducing paper use.”

Bendigo Bank will write to shareholders this week explaining the changes and options available to them.

Related Topics

Bendigo and Adelaide Bank Limited, ABN 11 068 049 178 AFSL / Australian Credit Licence 237879. Any advice provided on this website is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Please read the applicable Disclosure Documents before acquiring any product described on this website. Please also review our Financial Services Guide (FSG) before accessing information on this website. Information on this page can change without notice to you.

© Copyright 2020 Bendigo and Adelaide Bank