WhiteHawk Limited (WHK.AX) Earnings Call Transcript & Summary

[Audio Gap] My fellow directors who are on this call and senior management and attendance. Mr. Phil George, Non-Executive Director; Ms. Melissa King, Non-Executive Director; Mr. Brian Hibbeln, Non-Executive Director; Mr. Kevin Goodale, Chief Financial Officer; Ms. Soo Kim, Chief Operating and Product Officer; Mr. Kevin Kye, Company Secretary. Today's meeting will be a short meeting as the company will present to the shareholders in more detail about the company's performance last financial year and look ahead at the upcoming Annual General Meeting in May 2024. As outlined in the notice of the meeting dated 19 January 2024, the purpose of today's meeting is to seek shareholder approval for the following 3 resolutions: resolution 1, ratification of prior issue of shares to Lind Partners; resolution 2, approval to issue shares to Lind Partners; and resolution 3, approval to issue shares, future capital raising shares. The purpose of resolution 1 and 2 is to ensure that the company has sufficient placement capacity to issue shares pursuant to the Lind agreement executed in October of 2022. The purpose of resolution 3 is to retain as much placement capacity as possible to issue equity securities in the event of a future capital raise. No exact details of a future capital raise have been agreed nor determined yet, but will be announced to the ASX once finalized, if any. As a way of a short update to the shareholders, which will be presented in more detail at the May Annual General Meeting, company's 2024 business objectives are: execute on near-term federal, state and local wins with Peraton, build upon, expand together on new 2024 opportunities based upon proven combined capabilities and team with Peraton Labs on advanced analytics; second, fully leveraged 2023 critical infrastructure, risk assessment proofs of value to engage at the state and local level in the U.S. and AU and in Australia, demonstrating impact, scalability and cost effectiveness; third, grow current consulting firm, formal and informal business partnerships the proven automated cyber risk product lines for their enterprise, supply chain, government and critical infrastructure clients; and fourth, continue to retain an advance and grow current Cyber Risk Radar and Cyber Risk Program contracts across current pipelines as baseline recurring revenue. Business of the meeting, resolutions to be considered at the meeting. I will follow the procedure for conducting shareholder meetings described in the company's constitution. Resolution number one, ratification of prior issue of shares to Lind Partners. The resolution before you is to consider, and if thought fit, to pass the following resolution as an ordinary resolution that, for the purpose of Listing Rule 7.4 and for all other purposes, shareholders ratify the issue of 41,788,230 shares to Lind Partners on the terms and conditions set out in the explanatory statement. I now disclose to the meeting how many proxies have been received concerning this resolution and how the proxy votes are to be cast on the resolution. In total, 69,826,880 valid proxies were received, of which 65,725,175 votes were in favor of the resolution; 2,118,576 votes were against the resolution; 140,645 abstained; and 1,983,123 discretionary. Resolution 2, approval to issue shares to Lind Partners. The resolution before you is to consider, and if thought fit, to pass the following resolution as an ordinary resolution that, for the purpose of Listing Rule 7.1 and for all other purposes, approval is given for the company to issue 8,333,334 shares to Lind Partners on the terms and conditions sent out in the explanatory statement. I now disclose to the meeting how many proxies have been received concerning this resolution and how the proxy votes are to be best cast on the resolution. In total, 69,826,880 valid proxies were received, of which 65,682,175 votes were in favor of the resolution; 2,161,576 votes were against the resolution; 140,645 abstained; and 1,983,129 discretionary. Resolution 3, approval to issue shares, future capital raising. The resolution before you is to consider, and if thought fit, to pass the following resolution as an ordinary resolution, that for the purpose of Listing Rule 7.1 and for all other purposes, approval is given for the company to issue up to that number of shares, when multiplied by the issue price, will raise up to $2,500,000 on the terms and conditions set out in the explanatory statement. I now disclose to the meaning how many proxies have been received concerning this resolution and how the proxy votes are to be cast on the resolution. In total, 69,870,094 valid proxies were received, of which 66,115,350 votes were in favor of the resolution; 1,746,757 votes were against the resolution; and 142,645 abstained and 2,007,987 discretionary. I now invite for any questions on the resolutions of the meeting. Please reference which resolution number your question is concerning. Okay. It seems that we have not received any questions. And so with that, if you have not submitted proxy votes and/or required to submit votes, please do so now via online voting facility supported by company's share registry, Automic. The voting will close 5 minutes from now. The results of the meeting will be published via the ASX announcement platform after the meeting. Ladies and gentlemen, that concludes the business of this meeting. I declare the formal business of meeting is closed. Thank you very much.