Morphic Ethical Equities Fund Ltd. · ASX:MEC
Morphic Ethical Equities Fund — Shareholder Meeting (October 2023)
34 slides from Morphic Ethical Equities Fund's shareholder meeting presentation, Oct 18, 2023
Slide 1: Morphic Ethical Equities Fund Limited Annual General Meeting
For personal use only Morphic Ethical equities fund limited 18 October 2023 Annual General Meeting 1 Global Responsible Investors
Slide 2: Chair's Address
For personal use only CHAIR’S address 2 Global Responsible Investors
Slide 3: AGM Agenda
AGM Agenda For personal use only • Consideration of Financial Statements and Reports • Resolution 1: Remuneration Report • Resolution 2: Re-election of Mark Forstmann as a Director • Resolution 3: Amendment to the Constitution • Resolution 4: Approval to increase on-market buy back capacity • Portfo
Slide 4: Financial Statements
Financial Statements For personal use only To receive and consider the Financial Report, Directors’ Report and Auditor’s Report for the Company for the financial year ended 30 June 2023. There is no requirement for shareholders to approve these reports. 4 Global Responsible Investors
Slide 5: Company Results
Company Results Company Performance Dividend – cents per share per calendar year For personal use only Amount 9 months to 12 months to 30 June 2022** 30 June 2023 Total Dividend CY23 10¢ per share Pre-Tax Operating -$ 16.2m +$ 10.7m Profit/Loss March 2023 1.5¢ per share Post-Tax Operating Profit/Los
Slide 6: AGM – Proxies & Voting
For personal use only AGM – PROXIES & VOTING 6 Global Responsible Investors
Slide 7: Resolution – Remuneration Report
RESOLUTION 1 –Remuneration Report For personal use only “That the Remuneration Report of the Company (which forms part of the Directors' Report) for the financial year ended 30 June 2023 be adopted.” 7 Global Responsible Investors
Slide 8: Resolution 1 - Proxy Voting Results
RESOLUTION 1- Proxy Voting Results Number % For personal use only FOR 5,125,787 69.12 AGAINST 192,695 2.60 OPEN – Nominated Chair1 1,861,646 25.10 – Other Nomination 236,003 3.18 1. To be voted in favour of the resolution 8 Global Responsible Investors
Slide 9: Resolution – Re-election of Director
RESOLUTION 2 – Re-election of Director For personal use only “That Mr Mark Forstmann, who retires by rotation in accordance with rule 6.7 of the Company’s Constitution and, being eligible, offers himself for re-election, be re-elected as a director of the Company.” 9 Global Responsible Investors
Slide 10: Resolution - Proxy Voting Results
RESOLUTION 2 - Proxy Voting Results Number % For personal use only FOR 6,453,693 74.44 AGAINST 117,535 1.36 OPEN – Nominated Chair1 1,861,646 21.48 – Other Nomination 236,003 2.72 1. To be voted in favour of the resolution 10 Global Responsible Investors
Slide 11: Resolution – Amendment to the Constitution
RESOLUTION 3 – Amendment to the Constitution For personal use only “That in accordance with section 136(2) of the Corporations Act and for all other purposes, the Constitution be amended with immediate effect, by making the amendments specified in the Explanatory Memorandum which accompanied the Not
Slide 12: Resolution - Proxy Voting Results
RESOLUTION 3 - Proxy Voting Results For personal use only Number % FOR 6,386,806 74.11 AGAINST 130,119 1.51 OPEN – Nominated Chair1 1,864,920 21.64 – Other Nomination 236,003 2.74 1. To be voted in favour of the resolution 12 Global Responsible Investors
Slide 13: Resolution – Approval to increase on-market buy back capacity
RESOLUTION 4 – Approval to increase on-market buy back capacity For personal use only “That for the purposes of section 257C of the Corporations Act and for all other purposes, approval is given to the Company to buy back up to 10,174,837 Shares on the terms described in the Explanatory Memorandum w
Slide 14: Resolution - Proxy Voting Results
RESOLUTION 4 - Proxy Voting Results Number % For personal use only FOR 6,362,557 75.13 AGAINST 7,274 0.09 OPEN – Nominated Chair1 1,861,646 21.99 – Other Nomination 236,003 2.79 1. To be voted in favour of the resolution 14 Global Responsible Investors
Slide 15: Voting closed
For personal use only Voting closed 15 Global Responsible Investors
Slide 16: Questions
For personal use only questions 16 Global Responsible Investors
Slide 17: Thank you
For personal use only Thank you 17 Global Responsible Investors
Slide 18: For personal use only
For personal use only Investor Update 18 Global Responsible Investors
Slide 19: Morphic / Ellerston Global Mid Small Cap Team
Morphic / Ellerston Global Mid Small Cap Team Ashok Jacob – Chairman use only Dedicated Global Team Bill Pridham Fredy Hoh Deija Li Gaurav Pathak* Teng Lin Portfolio Manager Dep. Portfolio Manager Snr. Investment Analyst Snr. Investment Analyst Investment Analyst (25) (17) (7) (18) (9) For personal
Slide 20: Global Mid Small Caps in Context
Global Mid Small Caps in Context For personal use only Our investments are roughly the same ‘size’ as the Australian equivalents, which are regarded as ‘large’ and ‘safe’. Source: Factset, MSCI World and ASX200 index. For illustrative purposes only, not to scale. 20 Global Responsible Investors Sour
Slide 21: Our Philosophy: Connecting to Tomorrow's Returns, Today
Our Philosophy: Connecting to Tomorrow's Returns, Today For personal use only What are our guideposts How we differentiate Concentrated Between 20 – 40 global stocks Mid/Small Cap Bias Sub US$15 billion Absolute Benchmark Independent Contrarian Risk/Reward Asymmetry Where the crowd isn’t The trade-o
Slide 22: Investment Screening Summary
Investment Screening Summary For personal use only Source: Ellerston Capital, 1 Revenue is defined as total consolidated revenue for the company, as per the most recent values disclosed to the market. 2 Investment companies are not involved in the production of tobacco, manufacture of nicotine alter
Slide 23: What We Are Looking For?
What We are Looking For? For personal use only Stock attributes we look for Stock attributes we avoid Secular and/or Structural Growth – drives sales Companies that do harm High or growing market share in large addressable Concept stocks markets High customer retention and recurring revenue Question
Slide 24: Global Thematics
Global Thematics For personal use only Source: Ellerston Capital. 24 Global Responsible Investors
Slide 25: Thematic Exposure
Thematic Exposure For personal use only Source: Ellerston Capital as at 30 September 2023. 25 Global Responsible Investors
Slide 26: Portfolio Holdings
Portfolio Holdings For personal use only 26 Global Responsible Investors
Slide 27: Portfolio Holdings
Portfolio Holdings For personal use only 27 Global Responsible Investors
Slide 28: Companies doing good
Companies doing good Leading global contract manufacturer driven by key megatrends of electrification and digital health. Owns world’s largest solar tracking For personal use only business called Nextracker which has c30% global share. Largest folding carton manufacturer in the world which designs a
Slide 29: Companies doing good
Companies doing good Largest independent provider of out of hospital infusion services in the US. It provides extraordinary care that changes lives through a For personal use only comprehensive approach to care along every step of the infusion therapy process. Top global testing, inspection and cert
Slide 30: Morphic Ethical Equities Fund Performance
Morphic Ethical Equities Fund Performance MEC Share Price vs NTA1 AUD, weekly, October 2019 – September 2023 Dividend - cents per share per calendar year For personal use only 1.7 12.0 1.5 10.0 D 10.0 1.3 D D D 8.0 D 6.0 D 5.5 1.1 6.0 D D 4.0 0.9 2.5 2.0 2.0 Share Price Pre-tax NTA 2.0 0.7 0.0 2018
Slide 31: ESG In Focus
ESG In Focus For personal use only Sustainable Home Fast Fashion is Renovation about to Slow Down Plastic pandemic Supply Chain Circular Economy Sustainability part II Circular Economy 31 Global Responsible Investors
Slide 32: Questions
For personal use only Questions 32 Global Responsible Investors
Slide 33: Thank you
For personal use only THANK YOU 33 Global Responsible Investors
Slide 34: Morphic Asset Management contact details
Morphic Asset Management Level 11, 179 Elizabeth St For further enquiries: Sydney 2000 For personal use only Investor Relations Team New South Wales Phone:+612 9021 7701 Australia Email: info@ellerstoncapital.com Disclaimer: Unless specifically indicated, this presentation is for information purpose
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