Slide 1: Annual General Meeting
Annual General Meeting 13 August 2019 1
Slide 2: Welcome
Welcome Steven Sargent Chairman 2
Slide 3: Agenda
Agenda Chairman’s Address CEO’s Address Formal Business Close 3
Slide 4: Chairman's Address
Chairman’s Address Steven Sargent Chairman 4
Slide 5: CEO's Address
CEO’s Address Skander Malcolm Chief Executive Officer and Managing Director 5
Slide 6: FY19: Strong operating result
FY19: Strong operating result Results underpinned by good fundamentals NOI • Underlying EBITDA1 ahead of range due to strong March, with better than expected margins $118.7m 8.0% and benefits of cost actions. • Transactions increased 8.8% and transactions per active client2 up 12.6%. • Annual positi
Slide 7: 1Q20: Strong growth in North America and Corporate globally, despite difficult market
1Q20: Strong growth in North America and Corporate globally, despite difficult market OFX Quarterly NOI Growth • NOI down 3.4% on record 1Q19 result, impacted by Consumer globally. Strong July returning YTD NOI to positive growth. 13.0% 10.3% 4.2% 4.9% (3.4%) • Good revenue performance in key growth
Slide 8: Formal Business
Formal Business 8
Slide 9: Item 1
Item 1 “To receive and consider the financial statements of the Company and the reports of the Directors and Auditors for the year ended 31 March 2019.” 9
Slide 10: Item 2
Item 2 To consider and, if thought fit, pass the following non-binding resolution as an ordinary resolution: “That the Remuneration Report for the year ended 31 March 2019 be adopted.” This is a non-binding advisory vote. 10
Slide 11: FY19 Remuneration Outcomes
FY19 Remuneration Outcomes Remuneration Outcomes Delivery of strong results, including revenue growth above market and performance improvements across key non-financial areas. However, performance was below expectations. Remuneration outcomes were appropriately reflective of this performance includi
Slide 12: FY19 Changes to Incentive Schemes
FY19 Changes to Incentive Schemes Short Term Incentive Scheme (STI) • Removal of minimum earnings before tax (EBT) gateway. Replaced with a Company pool, driven by four Company Performance Measures. All staff, including Executive KMP, also have individual performance measures to be equally weighted.
Slide 13: Votes on Item 2
Votes on Item 2 VOTES For* 84.84% Against 8.30% Open votes (other than 6.86% Chairman) Total Votes 156,366,391 Abstain 606,541 Figures relate to proxy votes lodged up to 2:00pm AEST on 11 August 2019. * Votes in favour consist of direct and open proxies to the Chairman. 13
Slide 14: Item 3
Item 3 To consider and, if thought fit, pass the following resolution as an ordinary resolution: “That Ms Connie Carnabuci, who having been appointed as a Director of the Company on 1 April 2019 in accordance with Article 46(b) of the Company’s Constitution, and being eligible for election, be elect
Slide 15: Connie Carnabuci
Connie Carnabuci Non-Executive Director – Bachelor of Commerce (Marketing) (with Merit) and Bachelor of Laws. Member of the Remuneration and Nomination Committee, GAICD Connie has over 30 years’ experience in legal practice, management and strategy, including significant private practice advice and
Slide 16: Votes on Item 3
Votes on Item 3 VOTES For* 93.48% Against 5.27% Open votes (other than 1.25% Chairman) Total Votes 156,348,577 Abstain 624,355 Figures relate to proxy votes lodged up to 2:00pm AEST on 11 August 2019. * Votes in favour consist of direct and open proxies to the Chairman. 16
Slide 17: Item 4
Item 4 To consider and, if thought fit, to pass the following resolution as an ordinary resolution: “That, for the purposes of ASX Listing Rule 10.14; sections 200B and 200E of the Corporations Act 2001 (Cth) and for all other purposes, approval is given for: a) the issue to Mr John Alexander Malcol
Slide 18: Issue of Shares and Loan to Mr Malcolm
Issue of Shares and Loan to Mr Malcolm Shareholder approval is being sought for an FY20 LTI grant to Mr Malcolm under the ESP at 92% of his fixed remuneration, being $680,531, under the Company’s Executive Share Plan. • Vesting condition: Underlying EBITDA “Gateway” where EBITDA over the 3-year perf
Slide 19: Votes on Item 4
Votes on Item 4 VOTES For* 98.04% Against 0.32% Open votes (other than 1.63% Chairman) Total Votes 156,417,688 Abstain 555,244 Figures relate to proxy votes lodged up to 2:00pm AEST on 11 August 2019. * Votes in favour consist of direct and open proxies to the Chairman. 19
Slide 20: Item 5
Item 5 To consider and, if thought fit, to pass the following resolution as an ordinary resolution: “That, for the purposes of ASX Listing Rule 10.14 and for all other purposes, approval is given for the issue to Mr John Alexander Malcolm of 134,810 performance rights under the OFX Group Limited Glo
Slide 21: Issue of Performance Rights to Mr Malcolm
Issue of Performance Rights to Mr Malcolm Shareholder approval is being sought for the granting of performance rights to Mr Malcolm pursuant to Mr Malcolm’s achievement of STI for FY19 under the Company’s Global Equity Plan. • FY2019 Company Performance Measures were set at (refer slide 12): • Under
Slide 22: Votes on Item 5
Votes on Item 5 VOTES For* 98.19% Against 0.32% Open votes (other than 1.49% Chairman) Total Votes 156,417,688 Abstain 555,244 Figures relate to proxy votes lodged up to 2:00pm AEST on 11 August 2019. * Votes in favour consist of direct and open proxies to the Chairman. 22
Slide 23: Questions
Questions 23
Slide 24: Thank you
Thank you © o-rx
Slide 25: Level 19, 60 Margaret Street, Sydney NSW 2000 Australia. www.ofx.com
The material contained in this document is a presentation of general information about OFX Group Limited (Company) and its activities current as at 13 August 2019. Material is provided in summary only and does not purport to be complete. The material contained in this document has been prepared with