WAM Microcap (WMI) AGM 2024 summary

Opening remarks and agenda

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

• Hybrid format enabled both in-person and online participation, with voting and Q&A options for all attendees.

• Notice of meeting and chairman's address were circulated to shareholders in advance.

Financial performance review

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

• Profit reserve stood at AUD 0.438 per share after a fully-franked dividend payment of AUD 0.0525 per share.

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

Board and executive committee updates

• Geoff Wilson and Adrian Siew both spoke on their backgrounds and value to the board during their re-election resolutions.

• Board recommended approval of all resolutions and managed open proxies accordingly.