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Case Study #3:
Proposed Demerger

Situation

Crosby|Textor was engaged by one of Australia’s largest financial institutions in the lead up to its Extraordinary General Meeting (EGM).

Our client was proposing a demerger with its international partner in an effort to breathe new life
into its Australian and international operation and ultimately boost its falling share price.

Challenge

Crosby|Textor’s challenge was to undertake research amongst its retail shareholders to assist our client to present and reinforce a compelling case for the proposed demerger that would ultimately
see it to fruition.

Specific challenges included:

• Understanding shareholders’ feelings and sentiment towards our client

• Identifying issues concerning shareholders and the best way to respond to those issues

• Determining shareholder understanding of the proposed demerger in order to identify issues,
• information gaps and misunderstandings (as well as to identify what messages are working)

• Ascertaining how shareholders will vote

• Determining motivations for voting in a particular way

Result

The result was a highly accurate research program that spanned three countries.

Our research identified the drivers of support for the demerger amongst its retail shareholders,
tracked that support and ultimately accurately predicted the overwhelming majority support on official voting day.

In short, Crosby|Textor’s research was critical in identifying the most salient messages for shareholders allowing our client to build a compelling communications campaign that was both
effective and economical.