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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Elders Limited    ELD   AU000000ELD6

ELDERS LIMITED

(ELD)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 01/15
10.71 AUD   +1.42%
01/04ELDERS : Becoming a substantial holderOpens in a new Window
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2020ELDERS : Appendix 2AOpens in a new Window
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2020ELDERS : Change of Director's Interest NoticeOpens in a new Window
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Elders : Notice of Annual General Meeting/Proxy FormOpens in a new Window

11/15/2020 | 05:46pm EST

Monday 16 November 2020

Notice of 2020 Annual General Meeting

Attached is notice of Elders Limited's (ASX:ELD) Annual General Meeting of shareholders to be held virtually on Thursday, 17 December 2020 from 10:00am (ACDT).

Further Information: Peter Hastings Company Secretary 08 8425 4964

Authorised by:

Peter Hastings

Company Secretary

Elders Limited ABN 34 004 336 636. Registered Office: Level 10, 80 Grenfell Street, Adelaide SA Australia 5000

2020 Elders

Annual

General

Meeting

Notice is hereby given that the 66th Annual General Meeting of Shareholders of Elders Limited (Company) will be held virtually on Thursday,

17 December 2020 commencing at 10.00am (Australian Central Daylight Time).

Elders Limited ABN 34 004 336 636

Elders Limited ABN 34 004 336 636

Level 10, 80 Grenfell Street

Adelaide, SA, Australia 5000 GPO Box 551, Adelaide SA 5001 p | 08 8425 4000 f | 08 7131 0118 elders.com.au

16 November 2020

Dear Shareholder,

It is my pleasure to invite you to attend the 2020 Annual General Meeting (AGM) of Elders Limited (Elders), which will take place on 17 December 2020 at 10.00am (ACDT). This Notice of Meeting and Explanatory Notes detail the business that will be dealt with at that meeting.

This has been an extraordinary year by any measure. In the face of first bushfires and then the global COVID-19 pandemic, Elders' people have risen to the challenge, ensuring the essential services that Elders provides to Australia's farmers and associated communities were maintained. We are exceptionally proud of our people, who have shown great strength, agility and resilience to withstand the challenges of this time.

The ongoing coronavirus pandemic (and associated advice of government health authorities and public health concerns) means that your AGM will be held as a virtual (online) meeting this year. Information about participation in the meeting, how to submit questions and voting on resolutions is set out in this Notice and further detail can be found by visiting boardroomlimited.com.au/agm/elders. Full detail of the business to be conducted at the meeting is set out in this Notice.

We hope that this format will allow even greater shareholder participation than a physical meeting.

At last year's AGM, Elders received a "first strike" on the resolution to adopt the Remuneration Report. The Board has taken this shareholder feedback very seriously and has engaged with shareholders and proxy advisors to better understand what our shareholders require in relation to remuneration issues. As a result of the feedback and the comprehensive review conducted throughout FY20, Elders has made several changes to its remuneration structure. Information about the changes we have made and how we have sought to address shareholder concerns are detailed on page 93 of the FY20 Remuneration Report.

Consistent with the relief provided by Corporations (Coronavirus Economic Response) Determination (No. 3) 2020, hard copies of this Notice of Meeting are not being sent by mail this year. Details of how to cast your votes or appoint a proxy to vote or speak on your behalf are set out on pages 14 to 15 of this Notice and further information about how to participate in the meeting is available on the website noted above.

The Elders Board believes the resolutions proposed in the Notice and described in the Explanatory Notes (except item

  1. are in the best interests of Elders' shareholders and, subject to the abstentions stated in the Notice, unanimously recommends that you vote in favour of items 2 to 7 (inclusive). The Elders Board does not believe that item 8 is in the best interests of Elders' shareholders, and unanimously recommends that you vote against item 8. If you appoint me as your proxy but do not direct me how to vote, I intend to vote in favour of items 2 to 7 (inclusive), and against the conditional spill resolution in item 8, on your behalf.

Yours sincerely,

Ian Wilton

Chair

3

Elders

2020 Notice of Meeting

Notice of 2020

Annual General

Meeting

Agenda

1. Financial Statements and Reports

To receive and consider the Financial Statements and the Reports of the Directors and Auditor for the 12 month period ended 30 September 2020.

No vote is held in connection with this item.

2. Remuneration Report

To consider and, if thought fit, to pass the following resolution:

"That the Remuneration Report, which forms part of the Directors' Report, for the 12 month period ended 30 September 2020 be adopted."

Note that the vote on this item is advisory only and does not bind the Company or the Directors of the Company; however, if 25% or more of the votes cast on this resolution are against it, the conditional spill resolution (item 8) will be put to the AGM.

3. Re-Election of Diana Eilert

To consider and, if thought fit, to pass the following resolution as an ordinary resolution:

"That Diana Eilert, being a director of the Company who retires pursuant to Rule 8.1.5(b) of the Constitution of the Company, and being eligible, is re-elected as a director of the Company."

4. Election of Matthew Quinn

To consider and, if thought fit, to pass the following resolution as an ordinary resolution:

"That Matthew Quinn, having been appointed by the Board since the last Annual General Meeting, who retires in accordance with Rule 8.1.5(a) of the Constitution of the Company, and being eligible, is elected as a director of the Company."

5. Managing Director's Long-Term Incentive

To consider and, if thought fit, to pass the following resolution as an ordinary resolution:

"That for the purposes of ASX Listing Rule 10.14, and for all other purposes, the grant of 101,000 performance rights to the Managing Director & Chief Executive Officer, Mr Mark Charles Allison, on the terms specified in the accompanying Explanatory Notes be approved."

6. Constitutional Amendment

To consider and, if thought fit, to pass the following resolution as a special resolution:

"That for the purposes of section 136(2) of the Corporations Act and for all other purposes, the Constitution of the Company be amended in the manner set out in the accompanying Explanatory Notes, with effect from the close of the meeting."

7. Reinstatement of Proportional Takeover Approval Rule

To consider, and if thought fit, to pass the following resolution as a special resolution:

"That the proportional takeover approval rule in the form of rule 6 of the Company's Constitution, as last approved by shareholders on 14 December 2017, be reinstated in the Constitution for a period of three years from the date of the meeting."

8. Spill Resolution (Conditional Item)

Condition for item 8: This resolution will only be put to the Meeting if at least 25% of the votes validly cast on item 2 are against that resolution.

If you do not want a spill meeting to take place, you should vote 'against' item 8. If you want a spill meeting to take place, you should vote 'for' item 8.

To consider and, if thought fit, pass the following resolution as an ordinary resolution.

'That, subject to and conditional on at least 25% of the votes cast on item 2 being cast against adoption of the Remuneration Report for the year ended 30 September 2020:

  1. an extraordinary general meeting of the Company (the 'spill meeting') be held within 90 days of the passing of this resolution;
  2. all of the Non-Executive Directors in office when the resolution to make the Directors' Report for the year ended 30 September 2020 was passed and who remain in office at the time of the spill meeting, cease to hold office immediately before the end of the spill meeting; and
  3. resolutions to appoint persons to offices that will be vacated immediately before the end of the spill meeting be put to the vote at the spill meeting'.

Please refer to the accompanying Explanatory Notes, which form part of this Notice of Meeting, for more information on the proposed resolutions.

By Order of the Board

Peter Hastings

Company Secretary

13 November 2020

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Elders Ltd. published this content on 16 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 November 2020 22:44:03 UTC


© Publicnow 2020
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Sales 2021 2 176 M 1 676 M 1 676 M
Net income 2021 123 M 94,4 M 94,4 M
Net Debt 2021 109 M 83,6 M 83,6 M
P/E ratio 2021 13,7x
Yield 2021 2,52%
Capitalization 1 675 M 1 292 M 1 290 M
EV / Sales 2021 0,82x
EV / Sales 2022 0,77x
Nbr of Employees 2 016
Free-Float 96,1%
Chart ELDERS LIMITED
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Elders Limited Technical Analysis Chart | ELD | AU000000ELD6 | MarketScreener
Technical analysis trends ELDERS LIMITED
Short TermMid-TermLong Term
TrendsBullishBearishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 12,84 AUD
Last Close Price 10,71 AUD
Spread / Highest target 35,9%
Spread / Average Target 19,9%
Spread / Lowest Target -19,9%
EPS Revisions
Managers and Directors
NameTitle
Mark Charles Allison Chief Executive Officer, Executive Director & MD
Ian Wilton Chairman
Richard I. Davey Chief Financial Officer
Robyn Clubb Non-Executive Director
Diana J. Eilert Non-Executive Director
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