mecu Limited has conducted its first Annual General Meeting under its new bankmecu brand. Some 120 customers attended the Meeting.
The following details offer a summary of the Meeting.
Annual Report highlights were communicated on 18 October 2011 and can be found here.
1. Opening and apologies
2. To confirm the minutes of the Fifty-third Annual General Meeting of mecu Limited held on 26/10/2010
Motion: “That the minutes of the Annual General Meeting of mecu limited held on 26 October 2010, as circulated, be confirmed as a true record”
Result: Passed
3. Chairman’s presentation
4. To receive, consider and adopt the report of the Board of Directors, the Financial Statements and Independent Audit Report for the year ended 30 June 2011
Motion: “That the report of the Board of Directors, the Financial Statements and Independent Audit Report for the year ended 30 June 2011 be received and adopted”
Result: Passed
5. Appointment of candidates H Clarke and Peter J Ford as Directors
Motion: “That candidate Helen M Clarke be appointed as a Director”
| Proxy votes received that validly appoint a person present at the meeting |
| For |
Against |
Open |
Abstain* |
| 5,089 |
323 |
1,845 |
366 |
| 70.13% |
4.45% |
5.42% |
|
| * Not included in percentage total |
| 1,819 (25.07%) Open votes will be cast by the Chair in FAVOUR of the resolution. Total votes in FAVOUR after distribution of open votes 6,908 (95.20%) |
| Declaration of the result of the vote |
Result: Passed
Motion: “That candidate Peter J Ford be appointed as a Director”
| Proxy votes received that validly appoint a person present at the meeting |
| For |
Against |
Open |
Abstain* |
| 4,948 |
374 |
1,891 |
410 |
| 68.60% |
5.19% |
26.21% |
|
| * Not included in percentage total |
| 1,863 (25.83%) Open votes will be cast by the Chair in FAVOUR of the resolution. Total votes in FAVOUR after distribution of open votes 6,811 (94.43%) |
| Declaration of the result of the vote |
Result: Passed
6. To consider and, if thought fit, approve an ordinary resolution to determine the amount of non-executive Directors’ remuneration
Motion: “That the total sum of $491,270 per annum be paid on a pro rata basis to the non-executive Directors by way of fees, concessions and other benefits. The Directors may determine how the sum is to be apportioned among them and how and when it is to be paid. The said sum includes relevant taxes payable either by the Company or Directors”
| Proxy votes received that validly appoint a person present at the meeting |
| For |
Against |
Open |
Abstain* |
| 3,876 |
1,278 |
1,847 |
622 |
| 55.36% |
18.25% |
26.39% |
|
| * Not included in percentage total |
| 1,821 (26.01%) Open votes will be cast by the Chair in FAVOUR of the resolution. Total votes in FAVOUR after distribution of open votes 5,697 (81.37%) |
| Declaration of the result of the vote |
Result: Passed
7. To consider and, if thought fit, approve the special resolution to amend bankmecu’s Constitution
Motion: “That the amendments to the constitution of bankmecu as tabled at the meeting, and which for the purposes of identification shall be signed by the Chair of the meeting be approved”
| Proxy votes received that validly appoint a person present at the meeting |
| For |
Against |
Open |
Abstain* |
| 5,173 |
404 |
1,818 |
228 |
| 69.95% |
5.46% |
24.59% |
|
| * Not included in percentage total |
| 1,792 (24.23%) Open votes will be cast by the Chair in FAVOUR of the resolution. Total votes in FAVOUR after distribution of open votes 6,965 (94.18%) |
| Declaration of the result of the vote |
Result: Passed
The amended Constitution can be found here.
8. Close of meeting