With the results of director elections to be announced earlier than usual, on 23 September, we expect the 2024 Annual Meeting proceedings to be somewhat shorter than in previous years.

However, this year shareholders will be asked to pass a special resolution relating to proposed changes to the Ravensdown Constitution.

The proposed changes relate to electronic voting and participation by shareholders at the Annual Meeting; Ravensdown’s lien over shareholders’ shares; and some other minor tidy-ups.

With the changes to electronic voting and participation, we’re aiming to make it easier for shareholders to actively participate in the Annual Meeting if they join online or by other electronic means.

Currently under the Constitution, shareholders may only participate in Annual Meetings and vote by being ‘present in person’ (which requires the shareholder to be physically present at the relevant meeting) or ‘by proxy’. The proposed change will allow shareholders to attend online and vote without appointing a proxy.

The proposed changes relating to Ravensdown’s lien over shareholder shares will strengthen Ravensdown’s ability to recover what is owed by shareholders and their group members who have defaulted on their payment obligations.

Shareholders will be formally invited to the meeting and given more details of the proposed changes to the Constitution via the Notice of Annual Meeting in the coming weeks.

For those shareholders who would like to attend the Annual Meeting in person, we’ll also offer a tour of the Christchurch Works manufacturing site.