IBEX Limited (IBEX) Earnings Call Transcript & Summary

Good afternoon, and welcome to the IBEX Limited Annual Meeting of Stockholders. I would now like to turn the conference over to Bob Dechant. Please go ahead.

Thank you very much, and welcome and good afternoon to all. And thank you for attending the IBEX Limited 2020/2021 Annual General Meeting for Shareholders. I am Bob Dechant, Chief Executive Officer of IBEX Limited. And it is my pleasure to welcome you to our first virtual Annual Shareholder Meeting and to introduce you to Mr. Mohammed Khaishgi, our Chairman of the Board. Mohammed?

Thank you, Bob, and welcome, everyone. I'm Mohammed Khaishgi, and I'm the Chairman of the Board of IBEX and have served as a member of the Board since September of 2017. We thank you for joining us today. We're happy to be hosting our virtual meeting, which allows us to be more inclusive, reach a greater number of shareholders and keep everyone safe. We'll conduct the business portion of our meeting first and then answer questions at the end of the meeting. And though we may not be able to answer every question, we'll do our best to provide a response to as many as possible. If for some reason, we are unable to accommodate your question today, you may submit them to us via the Investor Relations page on our website at www.ibex.co, and we'll respond to you promptly. Please note you may vote anytime during the meeting until the polls close by clicking the Vote button on the web portal. If you have already voted and do not wish to change your vote, you do not need to do anything. It's shortly after 4:30 Eastern Standard Time on March 11, and this meeting is officially called to order. Now I would like to introduce the other members of the Board attending today's meeting. Mr. Bob Dechant, who you just heard from, has served as one of our directors since January of 2021. Bob is currently the Chief Executive Officer of IBEX Limited. Mr. Jack Jones, who has served as a member of our Board since March of 2018 and is a member of our Compensation Committee. Mr. Shuja Keen has served as a member of our Board since March of 2018. Mr. Keen is a member of our Compensation Committee and our Nominating and Governance Committee. Mr. John Leone, who has served as a member of our Board since March of 2018 and is the Chairman of our Audit Committee. And Ms. Fiona Beck, who has served as a member of our Board since July of 2020. Not in attendance at today's meeting are 2 other directors, including Ms. Daniella Ballou-Aares, who has served as a member of our Board since March of 2018 and is a member of our Audit Committee; and Mr. Gerard Kleisterlee, who has served as a member of our Board since January of 2021 and previously served as an adviser to the company. Now it is my pleasure to introduce IBEX Limited's Chief Legal Officer and Assistant Secretary, Ms. Christy O'Connor. Ms. O'Connor will act as secretary of the meeting. Christy, over to you.

Thank you, Mohammed. I am Christy O'Connor, the Chief Legal Officer and Assistant Secretary for IBEX. After the formal meeting has been adjourned, we will provide time for general questions. Only validated shareholders may ask questions in the designated field on the web portal. [Operator Instructions] As Mohammed indicated, if we are unable to accommodate your question today, you are more than welcome to reach out to us via our Investor Relations page on our website at www.ibex.co. Please note that this meeting is being recorded. However, no one attending is permitted to use any audio recording device. The Board of Directors fixed February 10, 2021, as the record date for determining shareholders entitled to vote at this meeting. An affidavit has been delivered attesting to the fact that notice was provided to the shareholders, along with access to the 2019 financial statements and auditors' report and the 2020 annual report, either through the mail or through electronic mail on or about February 24, 2021, in accordance with the company's bylaws. The stockholder list shows that as of the record date, there were 18,084,162 shares of common stock outstanding and entitled to vote this meeting. We are informed by Broadridge Financial Solutions, our transfer agent, that there are represented in person or by proxy shares of common stock representing 15,261,102 votes or approximately 84% of the voting power on the record date. This represents more than 25% of the voting power of all issued and outstanding shares entitled to vote on the record date, and as such, a quorum is present for purposes of transacting business. Now I will present the matters to be voted upon. Proposal 1 is the approval of the 2019 auditors' report and financial statements related to the fiscal year ended on June 30, 2019. Proposal 2 is the approval of the 2020 annual report, including the auditors' report and financial statements related to the fiscal year ended June 30, 2020. Proposal 3 is the appointment of BDO LLP as the company's auditor for the ensuing fiscal year. Proposal 4 is to approve of the delegation to the Board of Directors the responsibility for determining the remuneration of the company's auditors. Proposal 5 is to approve the setting of the number of directors at 8 until the next Annual General Meeting. Proposal 6 is to approve conferring the general authority to the Board of Directors to fill any director vacancies until the next Annual General Meeting. Proposal 7 is to approve conferring the general authority to the Board of Directors to appoint alternate directors as and when it deems fit until the next Annual General Meeting. Proposal 8 is the election of directors and approval that the directors each be compensated in accordance with their respective director agreements between each director and the company. Directors shall serve a term of office until the next AGM or until their election is terminated in accordance with the company's bylaws. The current Board has nominated the following directors: Mr. Mohammed Khaishgi, Ms. Daniella Ballou-Aares , Mr. John Jones, Mr. Shuja Keen; Mr. John Leone; Ms. Fiona Beck; Mr. Robert Dechant, Mr. Gerard Kleisterlee. Proposal 9 is to approve, ratify and confirm any and all duly authorized acts taken by the directors and officers of the company. It is now approximately 4:37 Eastern Time on March 11, 2021, and polls are now open. Any shareholder who has not voted yet or wishes to change their vote may do so by clicking on the voting button on the web portal and following the instructions there. Shareholders who have not sent in proxies or voted via telephone or Internet and do not want to change their vote do not need to take any further action now. We'll now pause for voting. [Voting]

Now that everyone has had the opportunity to vote, I now declare the polls for the 2020/2021 Annual General Meeting for Shareholders closed at 4:38 p.m. Eastern Time on March 11, 2021. We have been informed by Broadridge Financial Solutions that the preliminary vote report shows that the 2019 auditors' report and financial statements have been approved. The 2020 annual report, including the 2020 auditors' report and financial statements, have also been approved. The appointment of BDO LLP as the company's auditor for the ensuing year has been approved. The delegation of authority to determine the auditors' remuneration to the Board has been approved. The number of directors on the Board has been approved at 8. The proposal to confer general authority to the Board to fill director vacancies, if any, is approved. The proposal to confer general authority to the Board to appoint alternate directors as it deems fit is approved. The nominees for election to the Board have been duly elected, and the compensation to be paid in accordance with their director agreements is approved. Any and all duly authorized acts taken by the directors and officers of the company have been approved, ratified and confirmed. We will report the final vote on a Form 6-K to be filed with the Securities and Exchange Commission. With that, I will turn it back to Mohammed.

Thank you, Christy. There being no further business to come before the meeting, the IBEX Limited 2020 and 2021 Annual General Meeting of Shareholders is now adjourned. We greatly appreciate your attendance and your support. We'd now like to open things up for shareholder questions and comments. Please note that we will attempt to answer as many questions as time allows, but only questions that are germane to the meeting will be addressed. [Operator Instructions] I'm pausing to see whether we have any questions. I am -- I believe there are no questions. So with that, we will end the Q&A section. Should you have any additional questions, you may reach out to us via our Investor Relations page on our website at www.ibex.co. Thank you once again for your participation and your support of IBEX.

The conference has now concluded. Thank you for attending today's presentation, and you may now disconnect.