Pacific Lime and Cement Limited (PLA) AGM 2024 summary

Opening remarks and agenda

• Meeting held virtually in compliance with Treasury Laws Amendment Bill 2021, enabling live participation, Q&A, and online voting via Automic's platform.

• Shareholders instructed on how to submit questions and vote, with all resolutions to be decided by poll in line with ASX Corporate Governance Principles.

Corporate governance

• Shareholder raised concerns about virtual-only format and requested future hybrid AGMs and better access to AGM records; board agreed to consider these suggestions.

• Questions addressed regarding board composition, independence, and gender diversity; board acknowledged the need for greater diversity and will consider changes.

• Governance concerns raised about executive chair's performance rights and independence; board confirmed no external advice was sought and will consider appointing an independent chair.

• Issue raised about director independence when participating in executive incentive schemes; board agreed to consider the feedback.

Board and executive committee updates

• Discussion on the value of having Mr. Werror as a voting director due to his senior roles and reputation in Papua New Guinea.

• Board diversity discussed, with emphasis on nationality and gender; commitment to consider appointing a female independent director before the next AGM.