Syrah Resources Limited (SYR) Earnings Call Transcript & Summary

Good morning, ladies and gentlemen. This is Jim Askew, I'm Chairman of the Board of Syrah Resources Limited. I'd like to welcome you to today's meeting. In view of the unprecedented times, we find ourselves in caused by the COVID-19 pandemic. This meeting will be held in a way in which shareholders and their representatives can participate safely via the webcast. The company's Secretary has advised that a quorum is present. And as the time is now 10:00, I declare the meeting open. And I'm joined here today by my fellow Director, Shaun Verner; and also the Chief Financial Officer, Steve Wells. Our other directors, Sara Watts, José Caldeira, Lisa Bahash and John Beevers, send their apologies. Also present is the company's Secretary, Melanie Leydin. The notice of meeting has been given in accordance with the company's constitution, and copies are available to you on the webcast facility. I will take the notice of meeting and explanatory memorandum as read. As previously advised, this is a virtual meeting, and shareholders will be able to participate and view our live webcast of the meeting, ask questions and cast direct votes at the appropriate times while the meeting is in progress. The format of today's meeting will be to consider and vote on the proposed resolution as set out in the notice of meeting. I will propose a resolution and then ask if there are any questions. Once questions have concluded, I will then ask shareholders and their representatives to vote on the resolution by way of a poll, and we'll explain further how the call will be conducted. There's 1 item in the business today which requires a formal resolution. In order to ascertain the true intentions of shareholder and to reflect our focus on transparent governance, as Chair, I have determined to call a poll on the resolution to be considered at today's meeting. Regarding voting and question procedures, I will now outline the procedures for today's meeting. With regard to voting on today's resolution, all shareholders, proxy holders and authorized corporate representatives and attorneys of shareholders who are entitled to vote will be able to do so via the webcast facility. Voting shareholders will be able to comment and ask questions via the webcast facility. It's important to note that if you have launched a proxy form and voted prior to the meeting, you do not need to vote again at this meeting. Nonvoting shareholders, that is a shareholder who has already voted by proxy to the meeting, may still comment and ask questions via the webcast facility. Visitors and media are reminded that whilst we welcome you at this meeting, it is a shareholders' meeting, and you may not make comments or ask questions. For shareholders, proxy holders and corporate representatives who intend to vote online via the webcast, please observe the following poll and voting instructions. With regards to the poll procedure, we will be -- we will open voting shortly so that your votes can be cast during the formal business section of the meeting. Again, as mentioned earlier, if you have launched a proxy form and voted prior to the meeting as a shareholder, you do not need to vote again at this meeting. For those proxy holders, shareholders and the corporate representatives who have not yet voted are able to vote via the Lumi webcast facility. We now declare the poll open. If you are eligible to vote at this meeting, a new polling icon will appear. Selecting this icon will bring up the resolution and present you with the voting options. To cast your votes, simply select one of the options, and there's no need to hit a submit or enter button as the vote is automatically recorded. You do, however, have the ability to change your vote up until the time of voting is declared closed. For proxy holders, you will have a summary box of proxy votes which detail the voting instructions, if any, for the items of business. By completing the voting via the Lumi webcast, when instructed to vote in a particular manner, you are deemed to have voted in accordance with those instructions. With respect to any open votes the proxy holder may be entitled to cast, you will need to mark a box beside the motion to indicate how you wish to cast your open votes. For shareholders that have not already voted prior to the meeting by submitting a proxy form, you also need to mark a box beside the motion to indicate how you wish to cast your vote. Please be advised that in relation to all open votes received with an express authorization for myself -- to myself in my capacity as Chairman, I intend to vote in favor of the resolution. Voting on the resolution is allowed up until the time I close the poll. Once the poll results have been tallied, we will announce the results with the ASX today. In relation to the questions, I would ask that only questions relevant to the specific resolution be asked when the resolution is being cast. For the shareholders participating via the webcast, please note the following process to ask questions. Tap on the speech bubble icon to submit a question. This will open a new screen. At the bottom of that screen, there is a section for you to type your question. Once you have finished typing, please hit the arrow symbol to send. Please note that while you can submit questions from now on, I will not address them until the relevant time in the meeting. Please also note that your question may be moderated or if we received multiple questions on one topic, amalgamated together. I will now open the poll, and shareholders and their representatives may cast their votes as and when the resolution is being addressed. You will also have some time after the resolution has been addressed to cast your votes. When Computershare has tallied the poll results, we will immediately release those results to the ASX via the electronic announcements platform. I'll now turn to the formal resolution in today's notice of meeting, that is to approve the approval to issue convertible notes to AustralianSuper Pty. Ltd. as trustee for AustralianSuper. I now propose that shareholders consider and if thought fit, pass the following resolution as an ordinary resolution. That, for the purposes of ASX listing Rule 7.1, shareholders approve the issue of up to 2 convertible notes to AustralianSuper Pty. Ltd. as trustee for AustralianSuper on the terms and conditions set out in the explanatory statement. Voting exclusion applied to this resolution as set out in the notice of meeting. We will now go to shareholders' questions.

Thanks, Jim. We haven't received any questions through the portal. We did receive a question prior to the meeting which wasn't relevant to the resolution today, so we will address that question off-line. So no questions received on this resolution.

Thanks, Melanie. In respect to this item of business, the following proxies have been received, as outlined in the presentation: in favor, 86.28%; against 12.56%; and open, 1.16%. We'll now provide shareholders with an additional 1 minute for poll voting to be completed. [Voting]

Thanks, Melanie. I now declare the poll closed. Moving on to other business. I note that because the company has not received any other business -- notice of any other business, I will now move to close the meeting. The results of the poll will be released to the ASX today. Ladies and gentlemen, that concludes the formal part of the meeting. I declare the meeting closed, and thank you all for your attendance.