Accordant Group (AGL) Scheme meeting 2026 summary

Opening remarks and agenda

• Meeting opened with board, CEO, and quorum present, emphasizing high shareholder support and providing instructions for online participation, voting, and Q&A.

• Purpose was to allow shareholders to ask questions and clarify the capital raise process.

Financial performance review

• Trading conditions have been challenging, but FY26 is estimated to show improved trading and year-on-year earnings growth in 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 business unit 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, CEO, Chairman, majority shareholder, and senior management have committed to participating in the rights offer, demonstrating confidence in the business.

• The board evaluated multiple alternatives for capital raising and concluded this was the best option for shareholders.