Melbana Energy Limited (MAY.AX) Earnings Call Transcript & Summary

Good afternoon, ladies and gentlemen. My name is Andrew Purcell. I'm the Chairman of Melbana Energy Limited. I know it's now 4 p.m. Australian Eastern Daylight Time, and I formally declare open the extraordinary general meeting of Melbana Energy Limited. While all shareholders, proxy holders and guests joining us virtually via the Lumi platform. We appreciate your participation this afternoon. I'll now ask the company secretary, Mr. Uno Makotsvana to confirm that a quorum is present.

Yes, a quorum is present.

Thank you very much, Uno. We'll now proceed at the meeting that it's duly constituted. The Notice of General Meeting for the extraordinary general meeting, the explanatory statement and proxy form dated 16 September 2025 were released to the ASX and circulated to shareholders. Subsequent to the issue of the notice, the company also released the following related announcements to the ASX. An addendum to notice of Extraordinary General Meeting dated 19 September 2025, which amended the terms of the joint lead manager options to align them with the attaching options referred to in the notice. Partial withdrawal of resolutions for upcoming Extraordinary General Meeting dated October 2025, confirming that resolutions 2 to 6 would not put to this meeting and explanatory memorandum withdrawal and deferral of resolutions 2 to 6 from extraordinary general meeting dated 14 October 2025, which provided further context to that withdrawal and advise that those resolutions are expected to be considered at the forthcoming Annual General Meeting. With your consent, I'll take the notice of meeting and all related ASX announcements as read. With regard to the withdrawn resolutions for the record, resolutions 2 to 6 are set out in the notice will not be put to today's meeting. On 13 October 2025, the company announced partial withdrawal of resolutions for upcoming extraordinary general meeting and on 14 October 2025 issued an explanatory memorandum withdrawal and deferral of resolutions 2 to 6. Confirming these items withdrawn from today and intended to be considered at the AGM in the same or substantially similar form. Accordingly, only Resolution 1 will be considered today. These were resolutions relating to Resolution 2, approval to issue attaching options under the placement. Resolution 3, approval to issue joint lead manager options and Resolutions 4 to 6, approval to issue shares to related parties Peter Stickland, Michael Sandy and myself, Andrew Purcell. Accordingly, only Resolution 1 considered at this meeting. Resolution 1 is ratification of prior issue of shares under the placement. Resolution 1 seeks shareholder approval under ASX Listing Rule 7.4 to ratify the prior issue of 411,764,704 fully paid ordinary shares in the company issued on 27 August 2025 to sophisticated and potential investors under the company's existing Listing Rule 7.1 capacity. The shares were issued at $0.017 per share or $0.017 per share, raising approximately AUD 7 million before cost as part of the placement announced on 21 August 2025. Approval of this resolution will refresh the company's placement capacity enabling Melbana to gain flexibility for future capital management. The details of this resolution are contained in the explanatory statement accompanied in the Notice of Meeting. A voting exclusion applies to persons who participated in this placement or our associates of those participants are set out in the notice. The Board unanimously recommends that shareholders vote in favor of this resolution. We'll now open the meeting for questions from shareholders, specifically relating to Resolution 1 or the general business of the company. Please use the Lumi platform to submit your questions in writing or select request to speak, if you wish to ask your questions firmly. The platform moderator confirm whether there are anyone queuing up to ask questions, please.

There are no questions on the platform at the moment.

Can we advise whether there are other people online attending the meeting that may be trying to ask any questions?

There are participants on the meeting, but no one is asking any questions.

Well, I'll give it another minute. Any change in the status of questions? Please?

There is no change to the status of questions. There are still no questions being asked.

Very well, I think we can proceed. If all votes have now been submitted, I declare the poll closed. The proxies received prior to the meeting and the votes cast today will be verified by our share registry boardroom PD Limited. I will ask the Company Secretary to confirm the preliminary voting position once available.

Chairman, I confirm that the preliminary proxy votes received prior to the meeting indicate support for Resolution 1. The detailed results of the poll will be released to the ASX later today.

Thank you, Uno. There being no other business to come before the meeting. Again, thank all shareholders for their continued support of Melbana Energy Limited and for attending today's virtual EGM. I now declare the EGM closed. Thank you for your attendance, and I wish you all a good afternoon.