Inspired Entertainment, Inc. (INSE) Earnings Call Transcript & Summary

Good morning. I'm Lorne Weil, Executive Chairman of the company and on behalf of Inspired Entertainment and the Board of Directors, I'd like to welcome you to the 2024 Annual Meeting of Stockholders and call the meeting to order. . Stockholders have had the opportunity to submit questions in advance of the meeting through the virtual meeting website and stockholders attending today's meeting may submit questions during the meeting through the text box on their screen. The company will respond to the questions submitted through the site and writing after the call and post the Q&A in the stockholder meeting section of our website. . I would like to introduce you to the other directors and officers of the company who are attending this virtual meeting. Our directors besides me are Michael R. Chambrello, Ira H. Raphaelson, Desiree G. Rogers, Steven M. Saferin, Katja Tautscher and John M. Vandemore. Our officers are Brooks Pierce, President and Chief Executive Officer, Marilyn Jentzen; Interim CFO; and Carys Damon, Executive Vice President, General Counsel and Secretary, who will be serving as Secretary of the meeting. To begin, I have a few housekeeping matters to announce Continental Stock Transfer and Trust Company, the company's transfer agent has provided an affidavit confirming the mailing of the notice of the Annual Meeting of Stockholders in the proxy statement, together with the company's 2023 annual report on Form 10-K on April 30, 2024, to each stockholder of record as of March 8, 2024. The record date for the meeting. The affidavit will be appendix in the minutes of this meeting. Jeffrey Rubin, a representative of our legal counsel has been appointed to act as Inspector of Election at this meeting. His oath as inspector has been submitted and will also be appended to the minutes of this meeting. The inspector has informed me that the holders of a majority of the 26,559,756 shares entitled to vote at the meeting are present in person or represented by proxy. Accordingly, with the quorum being present, this meeting is declared open to proceed with its business. The meeting will consider 2 proposals, each of which is described in our proxy statement, including the vote required for approval. The first proposal is the election of 7 directors of the company. The Board of Directors has nominated and recommended the election of and I hereby move that we elect as directors Allen Lorne Weil, that's myself. Michael Chambrello, lra Raphaelson, Desiree Roger Steven Saferin, Katja Tautscher and John Vandemore, each to hold office until the 2025 Annual Meeting of Stockholders or until their successors are duly elected and qualified.

I second the motion.

The second matter to be considered is the ratification of the appointment of Marcum LLP as the independent auditor of the company for the fiscal year ending December 31, 2024. The Board of Directors favors this proposal, and I hereby move that the ratification proposal be approved.

I second the mention.

We will now proceed to vote on the 2 proposals. The time is now 9:04. a.m. on May 22, 2024, and the polls are open for voting on the matters presented. Please remember that if you've already submitted your proxy, your shares have been voted accordingly. You do not need to vote today unless you are voting for the first time or want to change your previous vote. Since those desiring to vote have now done so. I now declare the polls closed at 9:06 a.m. If the inspector has completed the tabulation, I now ask the inspector to announce the preliminary results of voting.

Mr. Chairman, a plurality of the shares present at the meeting by proxy is that voted for the election of a A. Lorne Weil, Michael Chambrello, Ira Raphaelson, Desiree Rogers, Steven Saferin, Katja Tautscher and John Vandemore as Directors, each to hold office until the 2025 Annual Meeting of Stockholders or until their successors are duly elected and qualified. A majority of the shares present or represented by proxy at the meeting has voted to ratify the appointment of Marcum LLP as the independent auditor of the company for the fiscal year ending December 31, 2024. Accordingly, each of the proposals submitted to a stockholder vote at the 2024 Annual Meeting has been approved by the stockholders.