VivoPower PLC (VVPR) Earnings Call Transcript & Summary

Welcome to VivoPower International PLC's EGM of shareholders. My name is Kevin Chen, I'm the Executive Chairman of the company. Joining the virtual meeting today, we have Independent Directors, Matthew Cahir, William Langdon; Peter Jeavons; as well as Gemma Godfrey, who has just joined the Board of Directors this week. We would like to extend a warm welcome to Gemma to the VivoPower team. In addition, we also have Director Michael Hui, representing the interest of the major shareholder, the Group Finance Director and Company's Secretary to the meeting, James Tindal-Robertson. Thank you for joining us virtually here today. We would like to take this opportunity to thank all of the VivoPower team, our partners, financiers, customers, suppliers and shareholders for their support and engagement during the year. I note the quorum is present, and I now declare the meeting open. I'm pleased to inform you that the meeting today is being recorded so that shareholders and other stakeholders, who cannot be present, can view it on the company's website in due course. Before putting the resolutions to the meeting, does anyone present have any questions that they wish to ask the Board? With your permission, I would like to proceed with all questions from shareholders on any matters relevant to the business of the meeting, the outset, before we move on to voting on the resolutions themselves. This is because we have a large number of resolutions, and we will be able to deal with the voting more expeditiously in this manner, while still giving shareholders time to ask all the questions that they may wish to ask. To ensure orderly discussion, I may take several questions together on the same topic to avoid repetition of answers. Any questions? Thank you. I would now like to start the formal proceedings of this Extraordinary General Meeting. The notice of the AGM, together with explanatory notes, were posted to shareholders on 23rd of November, 2020. Accordingly, the requisite notice of the meeting has been given. I propose, therefore, that, with your consent, the notice of meeting should be taken as read. If you do not agree, please submit a question stating that you do not agree. No questions? In order to ensure that shareholders' proxy votes are accurately reflected in the results of the vote, and as required by the company's Articles of Association, I request that poll to be taken on each of the resolutions before the meeting. I would like to remind everyone that, firstly, shareholders are entitled to vote, either in person or by proxy, or in the case of corporate members, by corporate representative on all of the resolutions that are being proposed. Resolutions 1 to 4 are being proposed as ordinary resolutions. So for each of these resolutions to be passed, more than 50% of the votes cast must be in favor of the resolution in question. Resolution 5 is being proposed as a special resolution. So for this resolution to be passed, more than 75% of the votes cast must be in favor of the resolution in question. Now if I have the consent of those present, I will not read out all of the resolutions, of which each person present today has a copy as per the notice of AGM. Having counted the votes directly prior to this meeting, I can confirm that each resolution was approved by no less than 95% of votes cast. The results of the vote will be announced on a Form 6-K and on the company's website as soon as possible following conclusion of this meeting. There being no further items, I would like to thank everyone here for their attendance and declare this AGM meeting closed at this time, which is 12:04 p.m. GMT. Thank you, everyone.