Ricegrowers Limited (SGLLV) Earnings Call Transcript

Good morning, and welcome to today's B Class meeting of Ricegrowers Limited. I'd like to begin acknowledging the Wurundjeri people, traditional custodians of the land on which we meet today and pay my respects to the Elders, past and present. I'll expand that with respect to his Aboriginal and Torres Strait Islanders with us here today. It is 11:30, and I've been advised by the Company Secretary. With us, we have a quorum, and I declare the meeting open. I realize most of you are joining us from the AGM here we held in Leeton. And if you haven't met me before, my name is John Bradford, your Chair. I'd like to reiterate how pleasing is to be here in Leeton today with our Growers and shareholders. I extend a warm welcome to those of us joining via the webcast. Seated at the head table with me today are Paul Serra, our Group Chief Executive Officer and Managing Director; Dimitri Courtelis, our Group Chief Financial Officer; and Kate Cooper, our Company Secretary and Group General Counsel. And our other directors are also here and ask them to stand as I mentioned their names. Luisa Catanzaro. Melissa De Bortoli. Ian Glasson, who stood for reelection at the AGM. Rachel Kelly. Julian Zanatta. And Ian Mason. Ian will retire at the conclusion of the meeting. And as I mentioned at the AGM, we thank Ian for his many years of service to SunRice and the rice industry.

And Chair, we also have Andy Crane.

And Andy Crane. We're looking for the rotation of directors, but anyway. We still want you, Andy. I warmly welcome Drew [indiscernible]. Drew, are you here? Thank you. Drew, we're joining the SunRice Board today as a Grower Director as elected by our A Class shareholders. Drew, thank you for running. I'm also very pleased to be continuing the capacity of SunRice Chair, having had my 4-year term renewed by -- in the SunRice Grower elections just occurred. I will also welcome our shareholders and Growers to this meeting today. In terms of today's agenda, Kate will recap on the procedural matters next before we conduct the formal business of the meeting. After that, shareholders as a whole, will be given a reasonable opportunity to ask questions or make comments about the management of the company during questions and answer time. Once the results of today's meeting are now, they will be announced on the ASX and SunRice's website. I will confirm that I am holding undirected proxies in my capacity as Chair of the meeting and I will vote these proxies in favor of each resolution. I will vote all directed proxies in accordance with the directions provided by shareholders. None of the other executive directors will be voting undirected proxies in this resolution. I now like to hand over to Company Secretary, Kate Cooper, who will explain how to vote and ask questions during today's meeting. Kate?

Thanks, Chair. Voting today will be by way of a poll. The resolution in the notice of B Class meeting is only able to be voted on by B Class shareholders. There is only 1 resolution today, and it is an ordinary resolution, which requires a 50% majority of votes cast to pass. We will share with you the proxy and direct voting results before you vote. Please note voting will close once MUFG has collected the voting cards at the end of today's meeting. As communicated in the notice of meeting, online proxy and other forms are voting ahead of the meeting closed at 11:30 a.m. on Tuesday. B Class shareholders present at the meeting here today are, however, able cast their votes using the voting card they received during registration this morning. Before we go any further, I'd like to check that everyone present at today's B Class meeting is holding either a voting or and admission card. B Class shareholders and their proxies, attorneys and representatives will use the White voting cards for today's resolution. B Class shareholders who are not voting at the B Class meeting, for example, in joint holdings, should be holding a Blue nonvoting admission card for this meeting. A Class shareholders who are not also B Class shareholders are not able to vote at today's meeting and should be holding Blue nonvoting cards. Visitors have been issued with Red admission cards and are not able to ask questions today. If anyone present does not have a card, please make your way to the registration table immediately and you'll be issued with the appropriate card. A representative of MUFG will conduct the poll today as returning Officer. At the end of today's meeting, the MUFG team will collect your voting card. If you have to leave after the poll is opened, but before the meeting ends, please leave your voting card in the poll box on the registration table. And I should note that if you have previously voted by proxy, your votes cast here today will override your previous proxy direction. As the Chair noted, there will be time for questions from shareholders. However, as with all shareholder meetings, I ask you to confine your questions or comments to the matters under consideration today. If you have any questions or comments relating to the long-term for the Group CEO, please ask your questions or make your comments during our discussion of the resolution. If you have any general comments or questions about the management of the company, please ask your questions or make your comments during the general question-and-answer time. In order to provide shareholders as a whole, a reasonable opportunity to speak today, I ask that you initially limit the number of your questions or comments to 2. If time permits, we may go back and allow you to ask further questions or make further comments once other shareholders have had an opportunity to speak. I note shareholders were able to submit questions in advance as outlined in the notice of meeting. However, no questions have been received from shareholders in advance for this meeting. For those shareholders who'd like to ask a question or comment at the right time, just a reminder to hold up your white or blue card and wait for a microphone. And if you could please also state your name for the room. Thank you, and I will now hand back to our Chair.