Manners followed by shout

By ELLEN READ

DB Group's attempt to reduce the Macho image of its beer has had a similarly calming effect on its shareholders.

Unlike Contact Energy's recent annual meeting, DB's meeting at Ellerslie Racecourse yesterday was a genteel affair. Shareholders, gathered to be updated on the company's progress since it released its annual result in November, posed only two questions to the board.

One - about the intentions of DB's majority shareholder, Asia Pacific Breweries - was disallowed as not appropriate for that forum and the other - about the company's dividend policy - was quickly dispatched.

The only other audience participation came in the form of a vote of thanks from one shareholder to DB group managing director Brian Blake for "a very clear report."

Mr Blake said the company was on budget in the current financial year and was focused on becoming New Zealand's most valuable brewing company. Then, following the formalities of reappointing two directors and agreeing that the auditors would continue, it was on to the free beer and scones.