Seafarms Group Limited · ASX:SFG
Seafarms — Shareholder Meeting (January 2022)
39 slides from Seafarms's shareholder meeting presentation, Jan 28, 2022
Slide 1: Annual General Meeting Presentation
ASX Announcement | 28 January 2022 Seafarms Group Limited (ASX:SFG) SFG ASX Announcement No: 717 Annual General Meeting Presentation Seafarms Group will hold its Annual General Meeting today, 28 January 2022, at 10:00am (WST). Attached for release is a copy of the presentation to be made at the Annu
Slide 2: Seafarms Group Limited 2021 Annual General Meeting
INSERT IMAGE (removed due to file size) Seafarms Group Limited 2021 Annual General Meeting 28 January 2022 1
Slide 3: Chairman's Welcome
RL | “seafarms Chairman’s Welcome
Slide 4: Introducing…
Introducing… Mick McMahon Ian Brannan^ Ian Trahar Hisami Sakai^ Paul Favretto* Executive Chairman Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Note: * Not standing for re-election; ^ Standing for election 3
Slide 5: Chairman's Welcome (cont.)
Chairman’s Welcome (cont.) 4
Slide 6: Virtual Meeting Protocol
Virtual Meeting Protocol Voting on the resolutions is now open You can vote at any time until the voting is declared closed. You can also change your vote at any time throughout the proceedings. 5
Slide 7: Virtual Meeting Protocol – Voting
Virtual Meeting Protocol – Voting 6
Slide 8: Virtual Meeting Protocol – Questions
Virtual Meeting Protocol – Questions 7
Slide 9: Formal Business
CONTENTS PAGE INSERT IMAGE (removed due to file size) Formal Business 8
Slide 10: Item 1: Discussion of Financial Statements and Reports
Item 1: Discussion of Financial Statements and Reports To receive and consider the Financial Report, Directors’ Report and Auditor’s Report for the year ended 30 June 2021 9
Slide 11: Item 2: Remuneration Report
Item 2: Remuneration Report To adopt the Remuneration Report for the year ended 30 June 2021 In respect of this item of business, the following proxies have been received: % Proxies received Proxies Votes received (excl. abstentions) For 697,073,269 94.60% Open / Undirected (Chairman) 14,552,773 1
Slide 12: Item 3: Election of Director – Mr Ian Brannan
Item 3: Election of Director – Mr Ian Brannan That, for the purposes of Listing Rule 14.4, rule 11.3 of the Company’s Constitution and for all other purposes, Mr Ian Brannan (who was appointed as a Director of the Company by the Board on 29 October 2021) be confirmed as a Director of the Company I
Slide 13: Item 4: Election of Director – Mr Hisami Sakai
Item 4: Election of Director – Mr Hisami Sakai That, for the purposes of Listing Rule 14.4, rule 11.7 of the Company’s Constitution and for all other purposes, Mr Hisami Sakai be re-elected as a Director. In respect of this item of business, the following proxies have been received: % Proxies rece
Slide 14: Item 5: Ratification of Shares Issued Under Share Purchase Plan Shortfall Shares
Item 5: Ratification of Shares Issued Under Share Purchase Plan Shortfall Shares That, for the purposes of refreshing the Company’s issue capacity, in accordance with Listing Rule 7.4, and for all other purposes, the Company ratify the issue of 114,240,816 Shares comprising the shortfall under the
Slide 15: Item 6: Ratification of Options Issued Under Share Purchase Plan Shortfall Shares
Item 6: Ratification of Options Issued Under Share Purchase Plan Shortfall Shares That, for the purposes of refreshing the Company’s issue capacity, in accordance with Listing Rule 7.4, and for all other purposes, the Company ratify the issue of 68,544,489 Unlisted Options to persons who subscribe
Slide 16: Item 7: Ratification of Securities to Mick McMahon
Item 7: Ratification of Securities to Mick McMahon That, for the purposes of refreshing the Company’s issue capacity, in accordance with Listing Rule 7.4, and for all other purposes, the Company ratify the issue of 36,363,636 Shares at an issue price of A$0.055 per Share and 21,818,181 Unlisted Op
Slide 17: Item 8: Ratification of Securities to Ian Brannan
Item 8: Ratification of Securities to Ian Brannan That, for the purposes of refreshing the Company’s issue capacity, in accordance with Listing Rule 7.4, and for all other purposes, the Company ratify the issue of 9,090,909 Shares at an issue price of A$0.055 per Share and 5,454,545 Unlisted Optio
Slide 18: Item 9: Additional Capacity to Issue Securities
Item 9: Additional Capacity to Issue Securities That, for the purposes of Listing Rule 7.1A and for all other purposes, the Company approve the issue of up to that number of equity securities equal to 10% of the issued capital of the Company at the time of issue, calculated in accordance with the
Slide 19: Voting results to be released to the ASX
The voting results for all of today’s resolutions will be released to the ASX and also made available on the Seafarms website after the conclusion of the meeting. 18
Slide 20: Formal business closed. Thank you
The formal business of today’s meeting is now closed. THANK YOU 19
Slide 21: Business Update
A “Sea Business Update
Slide 22: Agenda
Agenda ⚫ Corporate changes ⚫ PSD update ⚫ Project review ⚫ Emerging strategy 21
Slide 23: SFG Corporate Changes
SFG Corporate Changes Business / ⚫ Mick McMahon (CEO) and Ian Brannan (CFO) commenced in September 2021 management ⚫ Updated market on PSD costs and Financing process ⚫ Perth office closed and registered office moved to Darwin ⚫ SFG and Project Sea Dragon overhead costs reviewed and reduced as appro
Slide 24: Project Sea Dragon update
Project Sea Dragon update ⚫ Capital raise for PSD construction completed in June 2021 ⚫ Construction progressively mobilised through latter half of 2021 ⚫ PSD Cost update provided to the market in October 2021 ⚫ Updated on project financing on 1 Nov 2021 ⚫ Announced PSD Project Review 1 Nov 2021 ⚫ P
Slide 25: Project Sea Dragon – Legune status of work
Project Sea Dragon – Legune status of work ⚫ Main construction activity has been at Legune in the NT ⚫ 21x 1ha Nursery Ponds are under construction, with 8 of those ponds having embankments at full height prior to Wet Season suspension ⚫ Work on pre-cast pond inlet and outlet structures in Darwin pr
Slide 26: Project Sea Dragon Project review
Project Sea Dragon Project review PSD Review ⚫ With funding not being closed prior to end 2021 we have Workstreams taken the opportunity to review all aspects of PSD Prawn value Economic ⚫ Clear pressures from COVID and related restrictions and chain Modelling impacts (as reflected in the Constructi
Slide 27: Seafarms – Emerging Strategy
Seafarms – Emerging Strategy Increase ⚫ Clear opportunity to increase domestic production to meet existing customer requirements domestic ⚫ Rebalance QLD production to best meet demand for high quality, fresh product volumes ⚫ Meet domestic customer demand for Banana prawns as well as Tiger prawns ⚫
Slide 28: We invite general questions and thank you for your participation
We invite general questions and thank you for your participation today. 27
Slide 29: Thank You
Thank You New 550g Crystal Bay Tiger Prawns®, launched nationwide into the Woolworths freezer aisle 28
Slide 30: Annual General Meeting
Annual General Meeting 28 January 2022 SLIDE 1 – SFG AGM SLIDE (HOME SLIDE UNTIL AGM COMMENCES) Lumi Global - MOVE TO SLIDE 2 “Chairman’s Welcome” AS MICK STARTS SPEAKING Welcome Welcome to the Annual General Meeting of Seafarms Group Limited. My name is Mick McMahon, and I am Executive Chairman of
Slide 31: Annual General Meeting
Annual General Meeting 28 January 2022 later in the meeting to warn of the close in voting. Lumi Global - MOVE TO SLIDE 6 “Virtual Meeting Protocol – Voting” To vote, click the voting icon in the navigation bar of your screen to display the resolutions. Once you click on this icon, the resolutions w
Slide 32: Annual General Meeting
Annual General Meeting 28 January 2022 Following completion of the formal meeting I will provide a business update and answer any general questions. We will now turn to the formal business of the meeting. Lumi Global - MOVE TO SLIDE 8 “Formal Business” Formal Given a notice of meeting has been circu
Slide 33: Annual General Meeting
Annual General Meeting 28 January 2022 ITEM 2 The second item on the agenda is the adoption of the Remuneration Remuneration Report for the year ended 30 June 2021. The Remuneration Report Report is contained on pages 14 to 21 of the 2021 Annual Report and sets out the remuneration policies of the C
Slide 34: Annual General Meeting
Annual General Meeting 28 January 2022 ITEM 3 Item 3: Election of Mr Ian Brannan Election of We will now move to Item 3, the election of Mr Ian Brannan as a Director – Director. Ian Brannan Ian joined the Board in October 2021 and currently serves as CFO and Company Secretary and is an Executive Dir
Slide 35: Annual General Meeting
Annual General Meeting 28 January 2022 The Company Secretary will advise of any questions received in respect of this item of business. We ask for your patience as we provide shareholders with time to submit their questions. QUESTIONS] COMPANY SECRETARY: this item. Lumi Global - MOVE TO SLIDE 13 “Ra
Slide 36: Annual General Meeting
Annual General Meeting 28 January 2022 Under Share I will now move to consider Item 6 as set out on the screen. Purchase Plan The Board unanimously recommends Shareholder’s vote in favour of Shortfall this Resolution. Shares The Chair intends to vote undirected proxies in favour of Resolution. I mov
Slide 37: Annual General Meeting
Annual General Meeting 28 January 2022 We ask for your patience as we provide shareholders with time to submit their questions. QUESTIONS] COMPANY SECRETARY: please open the line. …There are no [further] questions on this item. I will now hand the role of Chair back to Mick McMahon. [Mick resumes ro
Slide 38: Annual General Meeting
Annual General Meeting 28 January 2022 ITEM 8 ITEM 8: Ratification of Securities to Ian Brannan Ratification We now move to Item 8. of Securities to Ian The Board, other than Mr Brannan, recommends Shareholder’s Brannan vote in favour of this ordinary resolution. Mr Brannan declines to make a recomm
Slide 39: Annual General Meeting
Annual General Meeting 28 January 2022 COMPANY SECRETARY: Lumi Global - MOVE TO SLIDE 18 (“Voting results”) Formal That brings us to the end of formal business of the meeting. I would like to meeting advise that the voting on all resolutions will close 2 minutes following the close end of this meeti