The 2021 Annual General Meeting (AGM) of Australian Mutual Bank Ltd (AMBL) will be held at 3:00pm on Wednesday 24 November 2021. The Notice of Meeting can be accessed by clicking on the following link: 2021 AGM Notice of Meeting
We have made some important changes to our AGM this year as a result of the ongoing COVID-19 pandemic. Given the unpredictability of lockdowns, potential restrictions on gatherings, and the risks arising from the spread of COVID-19, we will be holding a fully virtual AGM this year.
This means there will not be a physical meeting venue for you to attend.
Member participation in the AGM is important to us. That is why we have engaged Vero Voting to facilitate the AMBL virtual electronic meeting and provide a capacity for online direct voting both prior to and during the AGM. The AGM will be webcast live and members will have the opportunity to submit questions and also vote in real time.
Members are encouraged to submit votes ahead of the meeting using the online Vero Voting system. Voting for the Election of Directors closes at noon on 17 November 2021. Voting for other resolutions will conclude when the voting closes at the meeting.
HOW TO VOTE
Members can vote prior to the meeting and attend the AGM via the online portal at:
The Vero Voting AGM Online Guide provides instructions on electronic voting and attendance at the online AGM. The guide can be accessed by clicking the following link: Vero Voting AGM Online Guide. To access the online system you will require your Member Number and your unique PIN code (which will be provided to each member via email or post).
WHAT ARE THE ITEMS THAT AMBL IS ASKING MEMBERS TO VOTE ON?
Details concerning the resolutions being put to members are set out in the AGM Notice of Meeting and the accompanying explanatory notes.
Item 4 on the agenda is the Election of Directors. In accordance with the Constitution voting for the election can be performed electronically by following the instructions to use the Vero Voting system. All members are encouraged to vote online. Information about each candidate in the election can be accessed by clicking the following link: 2021 Election Candidate Statements.
Item 5 on the agenda concerns total remuneration, including superannuation, to be paid to directors. The total amount proposed of $380,000 is identical to the amount resolved at the 2020 AGM and no increase has been applied.
Items 6 and 7: AMBL is proposing several changes to the Constitution at the AGM. These changes are necessary to meet regulatory and business requirements as we continue to build and prepare for the future.
The amendments to the Constitution are required to be considered in two parts.
Part A – the provision for AMBL to issue Mutual Capital Instruments (MCI’s) has been introduced at a time when special provisions in the Corporations Act allow AMBL to do so without triggering unintended consequences. Importantly these provisions must be considered independently, hence they are only being considered in the Part A resolution. Although AMBL does not need or intend to raise capital at this time, the Board considers it prudent that provision be made for the future while the opportunity is available.
Part B – as a consequence of the MCI changes having to be considered separately, the other proposed amendments are considered in Part B. Details concerning the additional amendments in Part B are provided in the explanatory notes.
For a detailed overview of AMBL’s performance and operations for the year ended 30 June 2021, please refer to the 2021 Annual Financial Report, which can be accessed by clicking the following link:2021 Annual Financial Report.
All members are encouraged to participate in the AGM process and exercise their right to vote. If you have any questions you would like to ask please email agm@australianmutual.bank or phone the contact centre on 13 61 91.
Yours sincerely
Mark Worthington
Chief Executive Officer
IMPORTANT DOCUMENTS
