WAM Microcap (WMI) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional owners and introduction of board members and auditor.

• Notice of meeting and chairman's address were circulated to shareholders, with instructions for participation and voting provided.

• Voting conducted by poll for all items, with both online and in-person participation enabled.

Financial performance review

• Portfolio increased by 8.8% in the first four months to October, outperforming the Small Ords by 1.4%.

• Profit reserve at end of October was AUD 0.438 per share after a fully-franked dividend payment.

• Investment team has outperformed the market every year since listing, for seven consecutive years.

Board and executive committee updates

• Geoff Wilson and Adrian Siew provided background on their experience and value to the board during their re-election resolutions.

• Board members and auditor were present to address shareholder questions.