A meeting of Growers in the 2007 Macgrove Project was held on Tuesday, 12 December 2017 to consider:
1. granting of a limited Power of Attorney to the Responsible Entity; and
2. amending the performance incentive fee threshold from a flat, pre-determined rate, to an amount based on returns to Growers after meeting the annual costs of operating and occupying their Macgrove.
The Responsible Entity received 40 proxies representing 225 Macgroves. 87.50% of the proxies were in favour of the proposed changes, and 12.50% directed the Chairman to cast their vote. There were no proxies submitted against the resolution. A total of nine proxies were received after the meeting deadline and were not counted toward the result.
Following final voting at the meeting, the results are:
– 100% in favour of the resolution
– 0% against the resolution
As such, the proposed changes have been approved and the necessary documentation will be amended and lodged with ASIC.
Notes:
