Shareholder Update - Annual General Meeting voting results

Murray Irrigation hosted our 2024 Annual General Meeting (AGM) at the Deniliquin RSL Club earlier today.
 
More than 120 attendees participated in today's meeting, with just under half of those attending online.
 
All six resolutions which were put to the vote during the AGM have been carried.
 
The results are as follows. 

Resolution 1: Appointment of Member Director, Mr Geoff McLeod

• For: 466
• Against: 127
• Abstain: 2

Resolution 2: Appointment of Member Director, Mrs Gabrielle Coupland

• For: 384
• Against: 195
• Abstain: 16

Resolution 3: Appointment of Member Director, Mrs Leanne Small

• For: 412
• Against: 162
• Abstain: 21

Resolution 4: Appointment of Member Director, Mr Noel Graham AM

• For: 349
• Against: 231
• Abstain: 15

Resolution 5: Appointment of Non-Member Director, Mr Robert Burbury

• For: 303
• Against: 269
• Abstain: 23

Resolution 6: Increase of Directors' Remuneration Cap

• For: 305
• Against: 269
• Abstain: 21

You can view the official breakdown of results here.
 
These results mean:

• There will be no changes to the Board composition until the next Director election in 2025.
• The Director's Remuneration Cap will increase from $400,000 to $500,00 effective 1 July 2025, and be adjusted by annual CPI from 1 July 2026.

Chair Phil Snowden congratulates the five Directors on their Board appointments, and extends his appreciation to shareholders for participating in the AGM process. 

“I thank the Independent Selection Committee that was put in place earlier this year to provide recommendations to the Board to fill casual member director vacancies,” Mr Snowden said.
 
“This rigorous selection process culminated in the appointment of Geoff McLeod, Gabrielle Coupland, Leanne Small and Noel Graham AM, which shareholders have today supported with their votes, and has ultimately led to the diverse skills and experience we have on the Murray Irrigation Board today.
 
“I’m pleased that all the resolutions were carried and that the Board now has the confidence, with shareholder support, to continue to work towards the company’s strategic plan and deliver for our farmers, the community and the environment.
 
“A Board meeting is being held this afternoon. Details of this meeting and results of the Chair, Deputy Chair, and Committee office bearer elections will be shared by way of Chair Update tomorrow, 28 November.”
 
If you have any questions about today’s result, please contact the Company Secretary on 1300 138 265 or email companysecretary@murrayirrigation.com.au.