Accordant Group (AGL) Scheme meeting 2026 summary

Opening remarks and agenda

• Meeting opened with thanks to shareholders, confirmation of quorum, introduction of board and CEO, and instructions for online participation, emphasizing opportunity for shareholder questions and high pre-meeting support for resolutions.

Financial performance review

• Trading conditions have been challenging, but FY26 is estimated to show improved trading and year-on-year earnings growth in both blue-collar and executive recruitment segments.

• Group EBITDA (pre IFRS-16) is projected to return to positive in FY26, with further improvement expected in FY27 and FY28.

• Revenue growth forecasts of 20% per annum for the next two years are based on detailed analysis, though risks remain due to economic uncertainty.

• Net debt is estimated to fall from $30.5m at 31 March 2026 to $19.7m by end of FY28, assuming a successful capital raise.

Board and executive committee updates

• Board and management, including the CEO and Chairman, have committed to participating in the rights offer, with personal investments and support.

• The board evaluated multiple alternatives and concluded the current proposal is in the best interest of shareholders.