Kina Securities Ltd. · ASX:KSL
Kina Securities — Shareholder Meeting (May 2021)
39 slides from Kina Securities's shareholder meeting presentation, May 26, 2021
Slide 1: 2021 Annual General Meeting Slide Deck
26 May 2021 For personal use only ASX Markets Announcement Office PNGX Markets Exchange Centre Harbourside West Building 20 Bridge Street Unit 1B.02, Level 1, Stanley Esplanade Sydney NSW 2000 Down Town, Port Moresby 121 Australia Papua New Guinea BY ELECTRONIC LODGEMENT 2021 Annual General Meeting
Slide 2: Kina Securities Limited Annual General Meeting
Kina Securities Limited For personal use only Annual General Meeting 26 May 2021 1
Slide 3: Chairman's Welcome
Chairman’s Welcome For personal use only • My name is Isikeli Taureka and I am Chairman of the Board of Directors of Kina Securities Limited • Due to the ongoing impact of the COVID19 pandemic, the Board thought it prudent to take steps to discourage a physical public gathering and encourage partici
Slide 4: Opening of Meeting
Opening of Meeting For personal use only • As a quorum is present, I declare open this Annual General Meeting of the shareholders of Kina Securities Limited • With me in person today in Port Moresby is: Greg Pawson, our Managing Director & CEO; and Chetan Chopra, our CFO and Company Secretary Gr
Slide 5: Director Introductions
Director Introductions For personal use only Karen Smith-Pomeroy Jane Thomason Andrew Carriline Paul Hutchinson Ila Temu Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Karen Smith-Pomeroy, Chair of the Audit & Risk Committee and a m
Slide 6: Meeting Agenda
Meeting Agenda For personal use only The agenda for today’s Meeting is as follows: • Firstly, I will present my address. • Following that, Greg Pawson, our Managing Director & CEO, will present his review of Kina Group’s activities. • We will then proceed with the formal business of the Meeting and
Slide 7: Chairman's Address
Chairman’s Address For personal use only Isikeli (Keli) Taureka Non-Executive Chairman 6
Slide 8: MD & CEO's Presentation
MD & CEO’s Presentation For personal use only Greg Pawson Managing Director & CEO 7
Slide 9: Notice of Meeting
Notice of Meeting For personal use only Distributed on 23 April 2021 and taken as read 8
Slide 10: Meeting and Voting Procedures
Meeting and Voting Procedures For personal use only • Voting on each of the resolutions will be conducted by a poll • The results of the poll will be released on the ASX and PNGX Market Announcements Platforms after the Meeting • As Chairman of the Meeting, I will vote any: directed proxies I hold
Slide 11: Shareholder Questions
Shareholder Questions For personal use only • Please ensure that you registered through the webcast as a Shareholder and not as a Guest, as only shareholders, their attorneys, proxies and authorised company representatives are entitled to ask questions • If you wish to ask a question, please submit
Slide 12: General Business
General Business Adoption of 2020 AGM Minutes For personal use only To receive, consider and accept the minutes of the previous Annual General Meeting, dated 19 May 2020, as a correct record of the Meeting. 11
Slide 13: Ordinary Business
Ordinary Business Receipt and consideration of reports For personal use only To receive the Annual Report 2020, including Receipt the Financial Statements, Directors’ Report and the Independent Auditor’s Report for the Company and its subsidiaries for the financial year ended 31 December 2020. 12
Slide 14: Resolutions
Resolutions For personal use only • Resolution 1: Election of Director - Dr. Ila Temu • Resolution 2: Re-election of Director - Dr. Jane Thomason • Resolution 3: Appointment of Auditor • Resolution 4: Grant of Performance Rights to MD & CEO for FY2020 • Resolution 5: Grant of Performance Rights to M
Slide 15: Election of Director - Dr. Ila Temu
Resolution 1 Election of Director - Dr. Ila Temu For personal use only To consider and, if thought fit, pass the following as an ordinary resolution of the Company: “That Ila Temu, who retires in accordance with Article 70.5 of the Constitution and being eligible, hereby offers himself for election,
Slide 16: Shareholder Questions
Resolution 1 Shareholder Questions For personal use only The Company did not receive any questions from Shareholders ahead of today’s meeting in relation to Resolution 1. 15
Slide 17: Proxy Results
Resolution 1 Proxy Results For personal use only FOR 77,233,152 96.55% OPEN 2,709,631 3.39% AGAINST 50,921 0.06% ABSTAIN 1,064,167 16
Slide 18: Re-election of Director - Dr. Jane Thomason
Resolution 2 Re-election of Director - Dr. Jane Thomason For personal use only To consider and, if thought fit, pass the following as an ordinary resolution of the Company: “That Jane Thomason, who retires in accordance with Article 70.6 of the Constitution and being eligible, hereby offers herself
Slide 19: Shareholder Questions
Resolution 2 Shareholder Questions For personal use only The Company did not receive any questions from Shareholders ahead of today’s meeting in relation to Resolution 2. 18
Slide 20: Proxy Results
Resolution 2 Proxy Results For personal use only FOR 77,161,952 96.45% OPEN 2,704,631 3.38% AGAINST 132,121 0.17% ABSTAIN 1,059,167 19
Slide 21: Appointment of Auditor
Resolution 3 Appointment of Auditor For personal use only To consider and, if thought fit, pass the following as an ordinary resolution of the Company: “That, in accordance with Section 190 of the Papua New Guinea Companies Act 1997 (Companies Act) and for all other purposes, Deloitte Touche Tohmats
Slide 22: Shareholder Questions
Resolution 3 Shareholder Questions For personal use only The Company did not receive any questions from Shareholders ahead of today’s meeting in relation to Resolution 3. 21
Slide 23: Proxy Results
Resolution 3 Proxy Results For personal use only FOR 77,070,548 96.57% OPEN 2,709,631 3.40% AGAINST 24,025 0.03% ABSTAIN 1,253,667 22
Slide 24: Grant of Performance Rights to MD & CEO
Resolution 4 Resolution 5 Grant of Performance Rights to MD & Grant of Performance Rights to MD & CEO for FY2020 CEO for FY2021 For personal use only To consider and, if thought fit, pass the following as To consider and, if thought fit, pass the following as an ordinary resolution of the Company: a
Slide 25: Shareholder Questions
Resolution 4 and Resolution 5 Shareholder Questions For personal use only The Company did not receive any questions from Shareholders ahead of today’s meeting in relation to Resolutions 4 and 5. 24
Slide 26: Proxy Results
Resolution 4 Proxy Results For personal use only FOR 75,319,952 94.94% OPEN 2,758,081 3.48% AGAINST 1,255,368 1.58% ABSTAIN 1,094,667 25
Slide 27: Proxy Results
Resolution 5 Proxy Results For personal use only FOR 75,433,415 95.07% OPEN 2,728,131 3.44% AGAINST 1,181,330 1.49% ABSTAIN 1,084,667 26
Slide 28: Issue of Performance Rights under Kina Performance Rights Plan
Resolution 6 Issue of Performance Rights under Kina Performance For personal use only Rights Plan To consider and, if thought fit, pass the following as an ordinary resolution of the Company: “That for the purpose of ASX Listing Rule 10.14 and all other purposes, the issue of 1,587,359 Unquoted Perf
Slide 29: Shareholder Questions
Resolution 6 Shareholder Questions For personal use only The Company did not receive any questions from Shareholders ahead of today’s meeting in relation to Resolution 6. 28
Slide 30: Proxy Results
Resolution 6 Proxy Results For personal use only FOR 75,589,353 95.08% OPEN 2,728,131 3.43% AGAINST 1,180,399 1.49% ABSTAIN 1,084,667 29
Slide 31: Remuneration Report
Resolution 7 Remuneration Report For personal use only To consider and, if thought fit, pass the following as a non-binding ordinary resolution of the Company: “That the Company’s Remuneration Report for the financial year ended 31 December 2020, as set out in the Directors’ Report, is adopted.” 30
Slide 32: Shareholder Questions
Resolution 7 Shareholder Questions For personal use only The Company did not receive any questions from Shareholders ahead of today’s meeting in relation to Resolution 7. 31
Slide 33: Proxy Results
Resolution 7 Proxy Results For personal use only FOR 75,183,613 95.79% OPEN 2,729,631 3.48% AGAINST 573,936 0.73% ABSTAIN 1,238,667 32
Slide 34: General Questions
General Questions For personal use only That completes the formal business of the Meeting. I will now address any general questions that we have received. 33
Slide 35: Shareholder General Questions
Shareholder General Questions For personal use only Q1: From MICHAEL HENRY CLARK Question: When Nambawan Super Ltd sold its substantial shareholding in KSL in December 2019, did the Chairman consider that this sale had any political dimensions? If so, does the Chairman view further internationalizat
Slide 36: Shareholder General Questions
Shareholder General Questions For personal use only Q2: From SORENSEN CARSELDINE PTY LTD Question: Will Kina include block chain technology in their Business as Usual and investing in Crypto currencies? Answer: The Kina Board and Management adopted a 5-year Strategic Plan in 2020. The Plan is underp
Slide 37: Shareholder General Questions
Shareholder General Questions For personal use only Q3: From MICHAEL HENRY CLARK Question: Could the Chairman give a rough estimate of what percentage of the KSL total loan portfolio is lent to the PNG resources sector? Answer: Kina published its Appendix 4E in February 2021 including the 2020 Full
Slide 38: Meeting Close
Meeting Close For personal use only • As there are no further questions, then that concludes the business of the meeting. • Please ensure that your online votes have now been submitted. Voting will close in ten minutes. The results of this meeting will be announced to the ASX and PNGX as soon as pos
Slide 39: Kina Securities Limited Annual General Meeting
Kina Securities Limited For personal use only Annual General Meeting 26 May 2021 38