Minutes of Annual General Meeting of Sabina Corporation Limited A.C.N. 010 723 181 held at Whitehills, Level 18, 300 Adelaide Street, Brisbane, Qld 4000, at 11.00 a.m. Friday 30th October 2009.
PRESENT
Mr. P B Chen
-
Chairman
Mr. J L Chard
-
Non- Executive Director / Secretary
Mr. R D Tilby
-
Non- Executive Director
Mr. R X Yu
-
Non- Executive Director
ATTENDEES
Refer attendance register
CHAIRMAN
Mr. Chen chaired the meeting in accordance with Rule 10.4 (a) of the Constitution.
QUORUM
The Secretary advised that a quorum of shareholders was present in compliance with Rule 10.2 of the Constitution and the Chairman declared the meeting open.
PREVIOUS MINUTES
The Chairman tabled a copy of the Minutes of the last Annual General Meeting held on Friday 28th October 2008.
NOTICE
The Notice to Shareholders in accordance with Rule 9.2 (a) of the Constitution convening the annual general meeting was taken as read.
PROXIES
The Chairman tabled the proxies received representing a total of 70,000 shares.
SHARE REGISTER
The share register prepared by Computershare was tabled for inspection for purposes of determining voting entitlements of persons who are registered as holding shares at 7.00 p.m. (Brisbane Time) on Wednesday 28th October 2009.
CURRENT ACTIVITIES
The Chairman briefly outlined the current activities including the Company’s investment in the various property unit trusts in Tasmania and responded to shareholders’ questions / comments.
BUSINESS
The Chairman then moved to deal with the items of business and put the following Resolutions for voting by the shareholders by a show of hands.
(1)
By Ordinary Resolution Financial Statements & Reports Re Annual Report for Year Ended 30th June 2009.
Voting by show of hands:
Carried
Proxy Votes for Resolution:
70,000
Proxy Votes against Resolution:
-
Proxy Votes to Abstain:
-
Vote at Proxy's Discretion:
-
RESOLVED THAT the Financial Statements of the Company for the Year Ended 30th June 2009, and the Reports by the Directors and the Auditor, circulated to shareholders be adopted.
(2)
By Ordinary Resolution Appointment of Auditor Re Gary Paul Smith FCPA
Voting by show of hands:
Carried
Proxy Votes for Resolution:
70,000
Proxy Votes against Resolution:
-
Proxy Votes to Abstain:
-
Vote at Proxy's Discretion:
-
RESOLVED THAT that Gary Paul Smith FCPA Registered Company Auditor (No. 222045) in accordance with the Company’s Constitution, be appointed Auditor for the financial year ending 30th June 2010, on terms of remuneration to be determined by the Board.
(3)
By Ordinary Resolution Appointment of Non-Executive Director Re Mr. Roger Xianwei YU
Voting by show of hands:
Carried
Proxy Votes for Resolution:
70,000
Proxy Votes against Resolution:
-
Proxy Votes to Abstain:
-
Vote at Proxy's Discretion:
-
RESOLVED THAT Mr. Roger Xianwei Yu, who retires by rotation in accordance with Rule 16.1 of the Company’s Constitution, and been eligible, offers himself for re-election as a non-executive director.
(4)
By Ordinary Resolution Subsection 250R (2) of the Corporations Act Re Remuneration Report
Voting by show of hands:
Carried
Proxy Votes for Resolution:
70,000
Proxy Votes against Resolution:
-
Proxy Votes to Abstain:
-
Vote at Proxy's Discretion:
-
RESOLVED THAT in accordance with Subsection 250R (2) of the Corporations Act, the Remuneration Report (with Nil Employees) be adopted as tabled by the Secretary.
(5)
By Ordinary Resolution Issue of Fully Paid shares Re Directors’ Fees
Voting by show of hands:
Carried
Proxy Votes for Resolution:
70,000
Proxy Votes against Resolution:
-
Proxy Votes to Abstain:
-
Vote at Proxy's Discretion:
-
RESOLVED THAT in accordance with ASX Listing Rule 10.11 and Rule 3.1 of the Company’s Constitution, the directors listed below be issued with the following fully-paid ordinary shares at 25 cents per share in full settlement of the directors’ fees accrued as at 30th June 2009:
Mr. P B Chen
16,000 shares
@ $0.25 =
$4,000
Mr. J L Chard
6,000 shares
@ $0.25 =
$1,500
Mr. R D Tilby
8,000 shares
@ $0.25 =
$2,000
Mr. R X Yu
8,000 shares
@ $0.25 =
$2,000
Total
38,000 shares
$9,500
INTEREST
The Chairman confirmed that directors who have an interest in any of the Resolutions have abstained from voting as required under Section 232A.
PROXY VOTES
The proxy votes exercisable in respect to the above five Resolutions have been detailed in accordance with Section 251AA of the Corporations Act 2001 – see attached Appendix “A”.
VOTE OF THANKS
Mr. John Chard asked that a record be made in the Minutes to reflect the appreciation by the directors and shareholders of the continuing extraordinary dedication and endurance given by the Chairman & CEO during the 2009 financial year.
CLOSE OF MEETING
The Chairman thanked everyone for attending and declared the meeting closed at 11.55 a.m.
Signed as a true and correct record.
P B Chen Chairman
Date: 02/11/09
APPENDIX "A"
SABINACORPORATION LIMITED A.B.N. 67 010 723 181
SECTION 251AA OF THE CORPORATIONS ACT 2001 TOTAL NUMBERS OF PROXY VOTES EXERCISABLE ANNUAL GENERAL MEETING 11.00 A.M. FRIDAY 30th OCTOBER 2009
RESOLUTIONS
No1
No2
No3
No4
No5
Reports
Auditor
Director
Remuneration
Shares
RESULTS Carried/Defeated
Carried
Carried
Carried
Carried
Carried
METHOD by hand/ by poll
by hand
by hand
by hand
by hand
by hand
Total Numbers of Proxy Votes exercisable by Proxies validly appointed
Vote for Resolution
70,000
70,000
70,000
70,000
70,000
Vote against Resolution
-
-
-
-
-
Vote to Abstain
-
-
-
-
-
Vote at Proxy’s Discretion
-
-
-
-
-
Total votes cast on a poll in favour of the Resolution
N/A
N/A
N/A
N/A
N/A
Total votes cast on a poll against the Resolution
N/A
N/A
N/A
N/A
N/A
Total votes cast on a poll to Abstain on the Resolution
N/A
N/A
N/A
N/A
N/A
Total votes exercisable by Proxies which were not cast
