RSVP for Woolworths EGM and AGM
As a shareholder you get to vote on the GetUp motion to make Woolworths Poker Machines the safest in Australia. It's important that the vote in support of the motion is as high as possible and that we have a strong visible presence inside the EGM & AGM to speak in favour of poker machine reform and talk about the devastating impact of problem gambling on poker machines.
Please RSVP here to let us know whether you can attend the meetings in Adelaide in person or if you would prefer to proxy to another GetUp member to attend and vote in your place. If you decide to proxy we'll send you a set of instructions to make it happen.
GetUp is proposing a 1-120 solution to substantially reduce the harm caused by Woolworths' poker machines. Right now Australia has the most dangerous poker machines in the world. On machines in Australia - including machines owned by Woolworths - addicted problem gamblers can lose up to $1,200 an hour.
The GetUp solution would restrict Woolworths from owning poker machines that allow gamblers to bet more than $1 a spin or to lose more than $120 an hour on a single machine. Recreational gamblers rarely bet that much, so they probably wouldn't even notice these limits. However these limits could make a big difference to the amounts that addicted problem gamblers lose. The limits in the GetUp shareholders resolution don't kick in until January 2016, so the company has a long transition period.
Here is the language of the GetUp shareholders resolution:If passed, the resolution would amend the constitution of Woolworths Ltd to prevent it owning, operating or benefiting from:
"any electronic gaming machine offering games to the public:
i. at a cost of more than $1 per button push; and/or
ii. by which the machine is capable of generating net revenue at an average rate of more than $120 per hour; and/or
iii. for more than 18 consecutive hours in a 24 hour period"
from January 2016 onward.
Read the member statement (called a 249P) that hundreds of GetUp members signed-on to and that Woolworths must send to all 500,000 shareholders if the EGM request is granted here