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Date: Wednesday 27th November 2024
Time: 5:00pm
Location: Level 1, Pullman Sydney Airport Hotel, 191 O’Riordan Street, Mascot, New South Wales (Hybrid Meeting)
We encourage all eligible Members to participate in this year’s Qudos Mutual Limited (trading as Qudos Bank) Annual General Meeting (AGM).
As a member, you are not just a customer; you are a vital part of our community. Your vote and active participation helps shape the future of our bank. We count on your engagement and support to make informed decisions in the best interest of all our Members. Find out how to vote.
Customers will have received the email from Qudos Bank Returning Officer communications@mailservice.computershare.com.au. Customers can cast their vote directly by using the unique link or by entering their member number and postcode at http://www.investorvote.com.au/qudos and following the instructions.
Alternatively customers can lodge a completed Voting Form by:
Your vote must be submitted online by 5pm on Monday, 25 November 2024.
This year the AGM will be held as a hybrid meeting, allowing Members the flexibility to attend in person or virtually.
In Person
Attend the AGM in person at
Level 1, Pullman Sydney Airport Hotel,
191 O’Riordan Street Mascot, NSW 2020
(Burraga & Gweagal Rooms)
Online
Register for the live webcast via the Lumi platform, our event partner at https://meetings.lumiconnect.com/300-244-340-182
For more, please see our online meeting guide
We are presenting resolutions on three important topics for your consideration and vote at this year’s AGM. Directors unanimously (other than those declaring personal interest) support the proposed resolutions and recommend that Members vote FOR the resolutions. The Chair intends to vote all undirected proxies in favour of the resolutions, as follows:
Resolution 4 relates to limiting the number of Directors serving on the Board to five (5). Reducing the number of directors will enable the company to limit its expenses and promote more effective decision-making.
Resolution 5 relates to Director elections.
Elected Director, Sally-Ann Williams stands for re-election as an Elected Director. Sally-Ann’s candidate profile is set out on page 6 of the Explanatory Statement.
Elected Director, Barry Jackson stands for election as an Elected Director. Barry Jackson’s candidate profile is set out on Page 6 of the Explanatory Statement.
Resolution 6 relates to a proposed Return of Capital and Share Capital Reduction. The Board has proposed to return $10 to those Members who paid for their Member Shares on becoming a customer of Qudos Bank. This relates to those customers who joined Qudos Bank (or Qantas Staff Credit Union, as it was known then) prior to 01 April 2010. After this date, Members were not called to pay for their Member Shares.
If the return of capital and capital reduction is approved by Members, it is proposed that on or around 13 December 2024 a credit of $10 will be repaid to those applicable Members.
Under the Bank’s Constitution, all members are required to subscribe for five redeemable preference shares of $2 each (each a Member Shares) when they became a Qudos Bank customer and while this was the case prior to 01 April 2010, after this date, the Bank ceased calling for payment of Member Shares.
In effect all Qudos Bank members hold shares, however the difference between those that hold paid shares and those that don’t is based on their date of joining. Pre-April 2010 customers who paid $10 for their shares are considered as members who hold paid shares, while those that joined post April 2010 were not asked to pay for their shares and therefore hold unpaid shares.
As at 30 June 2024, there were 56,065 members who held fully paid shares and 44,184 members who held unpaid shares.
More information about this resolution is set out in page 7 of the Explanatory Statement.
Members can submit questions for the AGM in two ways:
Prior to the meeting
Submit your questions prior to the AGM by emailing them to sydreturningofficer@computershare.com.au
During the meeting
Submit your questions during the meeting in the Lumi platform by selecting the ‘Messaging’ tab at the top or by pressing the "Request to Speak" button at the bottom of the Broadcast window.
We acknowledge the Traditional Owners of the lands on which we operate and pay our respects to Elders past and present, and to emerging community leaders. We also acknowledge the important role Aboriginal and Torres Strait Islander peoples continue to play within the communities in which Qudos Bank operates and where our team members reside.
