essensys plc (ESYS) Earnings Call Transcript & Summary

Good morning, and welcome to the essensys plc Annual General Meeting. [Operator Instructions] I'd now like to hand you over to Jon Lee, Non-Executive Chairman. Good morning to you, sir.

Good morning, everyone, and thank you for attending. As it's now 9:30, and we have a quorum present, I declare the Annual General Meeting of essensys plc open. My name is Jon Lee. I'm the Chair of the company. And I would like to welcome you to this Annual General Meeting. Welcome to all of you joining us online. For those of you who is interested in our most recent financial results, the results presentation given on the 26th of November 2024 is available to view via the Investor Meet Company platform. Joining me are my fellow Board members is Mark Furness, the CEO; Greg Price, the CFO; and Charles Butler, the Non-Executive Director. I'll soon move to conduct the formal business of the AGM, and we'll open the poll for voting for those in the room with us. Following the conclusion of the poll, directors will be available for a Q&A session. Shareholders were given the opportunity to submit questions in advance of the AGM, and your questions can also be submitted at any time during the meeting. I propose we now proceed with the formal business of the meeting. Today's meeting was called by a notice of Annual General Meeting posted to shareholders on the 26th of November. That notice explained the various resolutions, which are proposed. And today's meeting has called -- has been called to consider and if thought fit, pass those resolutions. Accordingly, the requisite notice of the meeting has been given, and I therefore propose with your consent, that the notice of meeting should be taken as read. For this meeting, in line with good governance practice, all resolutions will be voted on by poll. This will ensure that the voting wishes of all shareholders who couldn't join us in person are also counted. Appointing Equiniti as scrutineers. Ordinary resolutions require a simple majority of votes to pass and special resolutions require 75% or more of votes to pass. I'll put the resolutions to the meeting one after the other. The actual terms of the resolution is set out in the notice. I should also note that I'm holding proxy votes in favor of each resolution in excess of 85% in each case. The first ordinary resolutions relate to the accounts, one, to receive the reports of the directors and the financial statements for the year ending 31st of July 2024; two, to approve the report of directors' remuneration for the year ended 31st of July 2024. Resolutions 3 to 6 propose reelecting the directors; three, Mark Furness; 4, Jonathan Lee; 5, Charles Butler; and 6, Gregory Price. Resolution 7 seeks to reappoint HaysMac LLP as auditor. And Resolution 8 seeks to authorize the directors to determine the fees payable to the auditor. Resolution 9 seeks to authorize directors to allot equity securities up to the limits outlined in the notice. And I also propose the following 2 special resolutions. Resolution 10 seeks to authorize directors to disapply preemption rights in certain circumstances and Resolution 11 seeks to authorize the company to make market purchases. I've now proposed all the resolutions as set out in the notice and declare the poll open. All poll cards have been submitted, I now declare the poll closed. The detailed voting figures will be released via RNS and published on the company's website as soon as practically possible. This concludes the formal business of the meeting. We now open for Q&A from both shareholders in person and any joining via IMC. Are there any shareholder questions you'd like to ask? None appeared yet. We'll leave it for a minute or so to see if anyone is busy typing. Okay, there doesn't appear to be any questions. So that concludes the business for the Annual General Meeting. Therefore, declare the AGM closed. Thank you all for joining us today. And now I hand you back to IMC.

Thank you very much for updating attendees today. On behalf of the Board of essensys plc, we'd like to thank you for attending today's Annual General Meeting, and good morning to you all.