Thread by @mcannonbrookes

👋🏻 @Grok_Ventures has acquired more than an 11% interest in @AGL - becoming the largest shareholder.

We will be voting against the upcoming, flawed demerger.

Why?

For more information, read below 👇🏻 and go to keepittogetheraustralia.com.au

#keepittogether

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💡 When a worker lit Sydney’s first gas lamp in 1841, @AGL was a company excited to embrace the future – not one that was afraid of it.

For 180 years, the company has had a proud history of leaning into the future, innovation & embracing the latest in technology.

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👍🏻 Today, @AGL is Australia's biggest energy retailer & has many economic growth opportunities.

👎🏻 However, AGL is also Australia's single largest emitter of carbon, at over 40mt. Alone it emits more CO2 than the entire countries of Sweden, Portugal, Ireland or New Zealand.

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🇦🇺 Decarbonisation is Australia's largest economic opportunity.

The transition over the next few decades will require electrifying everything & moving our grid to be powered by cheaper, reliable renewables.

Both Aus & AGL shareholders can benefit massively from this.

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Our gov't is clear.

"It will be our scientists, our technologists, our engineers, our entrepreneurs, our industrialists & our financiers that will actually chart the path to net zero. It is up to us as Leaders of governments to back them in." -@ScottMorrisonMP, Glasgow 2021

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We believe the proposed demerger does the opposite of the above, which is why we will be voting against it.

The demerger makes no sense, or cents.

We believe it destroys value for everyone - shareholders, employees, Australia and the planet.

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Far from leaning into opportunities, splitting it puts further pressure on struggling coal generators. We're seeing this today with Loy Yang A.

To accelerate the transition to renewables & make cents for shareholders, we believe @AGL must be kept together.

#keepittogether

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We believe in @AGL’s potential.
We believe in Australia's potential.
This is why we've joined as a shareholder.

This is our best & last opportunity to steer this company in the right commercial direction.

If you're a shareholder & believe, vote AGAINST on June 15.

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(For more information, see keepittogetheraustralia.com.au or follow along on the journey here!)

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