Tuesday, 29 September 2009

Supported!

Nick Xenophon's office was successful in gathering 100 signed 249P statements. In fact, with more than a week to go, over 230 statements have been received.

Section 249P will oblige Woolworths to distribute the statement to all of its 393,000 plus shareholders. The goal is that Woolworths respond positively to the suggestions made in the statement, take responsibility, take action and improve their pokie gambling practices.

This effort in getting 100 signatures may be without precedent. In the past, there has been a political party, union or the Australian Shareholders Association in the background. In this instance, the Australian Shareholders Association did not return phone calls or emails. Stephen Mayne has compiled a list of past 249P efforts on his Mayne Report web site. Click here to have a look.

The time for filing statements has not closed. If you are a Woolworths shareholder you can still help just by signing and mailing a simple form. To do this, go to www.NickXenophon.com.au and follow the instructions. If you know anyone with Woolworths shares, please ask them to log on to www.NickXenophon.com.au

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