Graincorp Limited Class A · ASX:GNC
Graincorp Limited Class A — Shareholder Meeting (February 2020)
31 slides from Graincorp Limited Class A's shareholder meeting presentation, Feb 19, 2020
Slide 1: Annual General Meeting – FY19
Annual General Meeting – FY19 19 February 2020
Slide 2: Disclaimer
Disclaimer This presentation includes both information that is historical in character and information that consists of forward looking statements. Forward looking statements are not based on historical facts but are based on current expectations of future results or events. The forward-looking stat
Slide 3: Agenda
Agenda 1. Chairman’s Address (Mr Graham Bradley AM) 2. CEO’s Presentation (Mr Mark Palmquist) 3. Business of the Annual General Meeting (Mr Graham Bradley AM) ▪ Resolutions ▪ Shareholder Questions ▪ Poll Voting 4. Meeting Closed (Mr Graham Bradley AM) 3
Slide 4: Chairman's Address
Chairman’s Address
Slide 5: CEO's Presentation
CEO’s Presentation
Slide 6: Commitment to safety and environment is fundamental
Commitment to safety and environment is fundamental RECORDABLE INJURY FREQUENCY RATE(1) Safety: 21.6 • GrainCorp achieved strong improvements in key safety metrics in FY19 13.9 12.2 • RIFR down 37% 11.3 11.5 • LTIFR down 46% 7.7 • Critical risk management, injury reduction and process safety managem
Slide 7: FY19 overview
FY19 overview • Grains: Substantial decline in eastern Australian grain production leading to $M FY19 FY18 grain deficits and lower receivals, exports and rail utilisation. Impacted by global trade tensions and disruptions to grain trade flows. Port supply chain reversed to Underlying EBITDA(1) 69 2
Slide 8: GrainCorp outlook
GrainCorp outlook Market fundamentals GrainCorp FY20 outlook • Large parts of east coast Australia (ECA), particularly northern NSW • Year-to-date(5) ECA grain receivals(6) of 3.7mmt. and southern QLD, affected by drought in 2019-20 cropping season. • Minimal grain exports expected in FY20. • FY20 E
Slide 9: Malt outlook
Malt outlook Market fundamentals Malt FY20 outlook • US craft beer sector: • High capacity utilisation of malt plants. - US craft beer market (by sales volume) grew 4% in • Continued solid demand for base and specialty malts, and other 2018(1). craft and distilling products / ingredients. - High gro
Slide 10: Portfolio Review / Proposed Demerger of United Malt
Portfolio Review / Proposed Demerger of United Malt The Board conducted a portfolio review during the year, announcing a separation of GrainCorp’s portfolio to unlock shareholder value: Sale of Australian Bulk Liquid Terminals • Announced March 2019. business to ANZ Terminals for a total • Completed
Slide 11: Business of the AGM: Procedural Instructions & Voting
Business of the AGM Procedural Instructions & Voting Mr Graham Bradley AM 11
Slide 12: Questions or comments from shareholders
12 QUESTIONS OR COMMENTS FROM SHAREHOLDERS • Shareholders holding a yellow or blue voting card • Questions relating to the Chairman’s report • Questions relating to the CEO’s report • Please raise your hand or stand up – a staff member will come to you with a microphone • Before asking your question
Slide 13: Business of the AGM
Business of the AGM For Consideration Item 1: Consideration of Financial Statements and Reports Ordinary Resolutions Item 2: Adoption of the Remuneration Report Item 3: Election of Directors 3.1 Re-election of Mr Simon Tregoning 3.2 Election of Ms Jane McAloon 3.3 Election of Ms Kathy Grigg 13
Slide 14: Voting Cards & Visitors
Voting Cards & Visitors GrainCorp Limited GrainCorp Limited Annual General Meeting Annual General Meeting 19 February 2020 19 February 2020 Non-Voting Shareholder Admission Card SHAREHOLDER/PROXYHOLDER ADMISSION/VOTING CARD Sample Only Sample Only As a non-voting Shareholder you are reminded that wh
Slide 15: Item 1: Consideration of the Financial Statements and Reports
Item 1: Consideration of the Financial Statements and Reports To receive and consider the Financial Statements and Report of the Directors and Auditor for the year ended 30 September 2019 15
Slide 16: Questions?
16 Item 1: Consideration of the Financial Statements and Reports Questions? 16
Slide 17: Item 2: Adoption of the Remuneration Report
Item 2: Adoption of the Remuneration Report To consider and, if thought appropriate, pass the following ordinary resolution: “That the Remuneration Report (which forms part of the Directors’ Report) of GrainCorp Limited for the financial year ended 30 September 2019 set out on pages 35 to 48 of the
Slide 18: Questions?
18 Item 2: Adoption of the Remuneration Report Questions? 18
Slide 19: Proxy and direct votes
Proxy and direct votes Item 2: Adoption of the Remuneration Report PROXY & DIRECT FOR OPEN AGAINST TOTAL VOTES Item 2 158,802,693 356,251 2,640,549 161,799,493 70.7% of issued % vote 98.2% 0.2% 1.6% capital The Chairman of the Meeting will be voting open proxies in favour of the resolution 19
Slide 20: Item 3: Re-election and election of Directors
Item 3: Re-election and election of Directors MR SIMON TREGONING MS JANE MCALOON MS KATHY GRIGG NON-EXECUTIVE DIRECTOR NON-EXECUTIVE DIRECTOR NON-EXECUTIVE DIRECTOR 20
Slide 21: Nominations Discussion
Nominations Discussion 21
Slide 22: Item 3.1: Re-election of Mr Simon Tregoning
Item 3.1: Re-election of Mr Simon Tregoning 3.1 To consider and, if thought appropriate, pass the following ordinary resolution: “That for the purposes of ASX Listing Rule 14.4, article 11.3(a) of the Constitution and for all other purposes, Mr Simon Tregoning, retiring by rotation, being eligible a
Slide 23: Proxy and direct votes
Proxy and direct votes Item 3.1: Re-election of Mr Simon Tregoning PROXY & DIRECT FOR OPEN AGAINST TOTAL VOTES Item 3.1 158,641,162 358,187 2,121,632 161,120,981 70.4% of issued % vote 98.5% 0.2% 1.3% capital The Chairman of the Meeting will be voting open proxies in favour of the resolution 23
Slide 24: Item 3.2: Election of Ms Jane McAloon
Item 3.2: Election of Ms Jane McAloon 3.2 To consider and, if thought appropriate, pass the following ordinary resolution: “That for the purposes of ASX Listing Rule 14.4, article 11.3(c) of the Constitution and for all other purposes, Ms Jane McAloon, appointed on 11 December 2019, to fill a casual
Slide 25: Proxy and direct votes
Proxy and direct votes Item 3.2: Election of Ms Jane McAloon PROXY & DIRECT FOR OPEN AGAINST TOTAL VOTES Item 3.2 159,333,330 352,387 2,013,689 161,699,406 70.7% of issued % vote 98.5% 0.2% 1.3% capital The Chairman of the Meeting will be voting open proxies in favour of the resolution 25
Slide 26: Item 3.3: Election of Ms Kathy Grigg
Item 3.3: Election of Ms Kathy Grigg 3.3 To consider and, if thought appropriate, pass the following ordinary resolution: “That for the purposes of ASX Listing Rule 14.4, article 11.3(c) of the Constitution and for all other purposes, Ms Kathy Grigg, appointed on 11 December 2019, to fill a casual v
Slide 27: Proxy and direct votes
Proxy and direct votes Item 3.3: Election of Ms Kathy Grigg PROXY & DIRECT FOR OPEN AGAINST TOTAL VOTES Item 3.3 159,356,978 352,387 1,991,074 161,700,439 70.7% of issued % vote 98.6% 0.2% 1.2% capital The Chairman of the Meeting will be voting open proxies in favour of the resolution 27
Slide 28: Poll Voting
Poll Voting GrainCorp Limited Annual General Meeting 19 February 2020 SHAREHOLDER/PROXYHOLDER ADMISSION/VOTING CARD Sample Only POLL VOTING In a poll, please mark a box below to indicate your voting intention. Resolutions For Against Abstain Adoption of the Remuneration Report Re-election of Mr Simo
Slide 29: GrainCorp Limited Post-Demerger
GrainCorp Limited Post-Demerger 29
Slide 30: Meeting closed
Meeting closed
Slide 31: Annual General Meeting – FY19
Annual General Meeting – FY19 19 February 2020