Me Today (MEE) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with confirmation of quorum and introduction of board members and advisors.

• Over 65% of shares represented by proxies, with directors intending to vote all discretionary proxies in favor of the resolution.

• Agenda included business update, Q&A, and voting on auditor remuneration.

• Chairman and CEO addresses included in the agenda, along with resolutions, voting, questions, and other business.

Board and executive committee updates

• Board and management committed to growing both King Honey and Me Today brands.

• Board comprises experienced members with backgrounds in health, wellness, finance, and marketing.

• Several directors are not considered independent due to substantial shareholdings.

• Board members have experience in both public and private sectors, with notable industry achievements.

• Further updates on growth strategy and capital structure to be provided in the new year.

Financial performance review

• Group sales for the six months ended December 2023 were NZD 2.8 million; expected to exceed NZD 4 million for the period to December 2024, a 42% increase.

• EBITDA trading losses for the year to December 2024 expected to be less than NZD 2.2 million from the previous year.

• Ongoing cost-cutting measures are reducing operating EBITDA losses, with further reductions expected in FY25 and beyond.