I have recently written to a number of companies along the
following lines. Anyone interested in assisting with a campaign
to get companies which have recently suspended dividend
re-investment plans to re-introduce them?
...
Please table this letter at the next available Boral Board
meeting.

I note that there is no material in the agenda for the 1994 AGM
about Boral's decision to suspend its Dividend Re-investment Plan
and Dividend Bonus Plan schemes. I disagree strongly with this
suspension decision. As Bruce Bond has pointed out in The Age,
alternative options to suspension exist which would protect small
shareholders interests such as putting an upper limit on how much
can be re-invested each year. Also, there is the option to reduce
the discount on the schemes - I would probably participate even
if there was no (0%) discount on the schemes to the market price.
If Boral does not have uses for the funds generated through these
schemes, there is the option to buy-back shares from shareholders
who do not wish to sell on-market (for example, they may have
unmarketable parcel) on an occassional basis, and/or to buy
parcels of Boral shares on-market occassionally, and continue
with re-investment schemes.

After considering these proposals, if the Board does not
determine to re-introduce the schemes I would appreciate it if
the following motion could be included on the agenda for the 1995
AGM of Boral:

THAT THIS 1995 AGM OF BORAL:
* NOTES THAT THE DIVIDEND RE-INVESTMENT AND DIVIDEND BONUS PLAN
SCHEMES WERE SUSPENDED IN 1994; AND
* DIRECTS THE BORAL BOARD TO RE-INTRODUCE THESE SCHEMES, WITH THE
BOARD RETAINING THE OPTION TO SET A MAXIMUM AMOUNT WHICH MAY BE
RE-INVESTED IN ANY ONE YEAR, AND THE OPTION TO REDUCE THE
DISCOUNT TO MARKET PRICE WHICH APPLIES.

I would appreciate it if this motion is put on the agenda for the
1995 AGM if Boral could arrange for a loud speaker telephone at
that meeting so I can speak to this motion from Canberra from my
home telephone, or notify me if this is not possible so that I
can arrange a proxy to speak to the motion at that meeting.

Please also mail me the Memorandum and Articles of Association of
Boral, and the rules for the Boral AGMs (if these are not in the
Memorandum and Articles).


--- GEcho 1.10+