Annual General Meeting

AGM Event Details

Date: Wednesday 27th November 2024

Time: 5:00pm

Location: Level 1, Pullman Sydney Airport Hotel, 191 O’Riordan Street, Mascot, New South Wales

2024 Notice of AGM

We encourage all eligible Members to participate in this year’s Qudos Mutual Limited (trading as Qudos Bank) Annual General Meeting (AGM).

Your vote shapes our future

As a member, you are not just a customer; you are a vital part of our community. Your vote and active participation helps shape the future of our bank. We count on your engagement and support to make informed decisions in the best interest of all our Members. Find out how to vote.

Customers will have received the email from Qudos Bank Returning Officer [email protected]. Customer can cast their vote directly by using the unique link or by entering their member number and postcode at http://www.investorvote.com.au/qudos and following the instructions.

Alternatively customer can lodge a completed Voting Form by:

  • email to the Returning Officer at: sydreturningofficer@ computershare.com.au
  • post to the Returning Officer at Reply Paid 2062 Melbourne VIC 8060; or
  • post or delivery to the registered office at Level 8, 191 O’Riordan Street, Mascot NSW 2020. Your vote must be submitted online by 5pm on Monday, 25 November 2024.

How to Participate

This year the AGM will be held as a hybrid meeting, allowing Members the flexibility to attend in person or virtually.

In Person

Attend the AGM in person at
Level 1, Pullman Sydney Airport Hotel,
191 O’Riordan Street Mascot, NSW 2020
(Burraga & Gweagal Rooms)

Online

Register for the live webcast via the Lumi platform, our event partner at https://meetings.lumiconnect.com/300-244-340-182

For more, please see our online meeting guide

Resolutions

We are presenting resolutions on three important topics for your consideration and vote at this year’s AGM. Directors unanimously (other than those declaring personal interest) support the proposed resolutions and recommend that Members vote FOR the resolutions. The Chair intends to vote all undirected proxies in favour of the resolutions, as follows:

  1. Board Limit

Resolution 4 relates to limiting the number of Directors serving on the Board to five (5). Reducing the number of directors will enable the company to limit its expenses and promote more effective decision-making.

  1. Directors

Resolution 5 relates to Director elections.

Elected Director, Sally-Ann Williams stands for re-election as an Elected Director. Sally-Ann’s candidate profile is set out on page 6 of the Explanatory Statement.

Elected Director, Barry Jackson stands for election as an Elected Director. Barry Jackson’s candidate profile is set out on Page 6 of the Explanatory Statement.

  1. Return of Capital & Share Capital Reduction

Resolution 6 relates to a proposed Return of Capital and Share Capital Reduction. The Board has proposed to return $10 to those Members who paid for their Member Shares on becoming a customer of Qudos Bank. This relates to those customers who joined Qudos Bank (or Qantas Staff Credit Union, as it was known then) prior to 01 April 2010. After this date, Members were not called to pay for their Member Shares.

If the return of capital and capital reduction is approved by Members, it is proposed that on or around 13 December 2024 a credit of $10 will be repaid to those applicable Members.

Under the Bank’s Constitution, all members are required to subscribe for five redeemable

preference shares of $2 each (each a Member Shares) when they became a Qudos Bank customer and while this was the case prior to 01 April 2010, after this date, the Bank ceased calling for payment of Member Shares.

In effect all QB members hold shares, however the difference between those that hold paid shares and those that don’t is pretty much based their date of joining. Pre-April 2010 customers who paid $10 for their shares are considered as members who hold paid shares, while those that joined post April 2020 were not asked to pay for their shares and therefore hold unpaid shares.

As at 30 June 2024, there were 56,065 members who held fully paid shares and 44,184 members who held unpaid shares.

More information about this resolution is set out in page 7 of the Explanatory Statement.

Submitting questions for the AGM

Members can submit questions for the AGM in two ways:

Prior to the meeting

Submit your questions prior to the AGM by emailing them to [email protected]

During the meeting

Submit your questions in during the meeting in the Lumi platform by selecting the ‘Messaging’ tab at the top or by pressing the "Request to Speak" button at the bottom of the Broadcast window.

AGM Resources

Notice of AGM
Resolutions
How to Vote
Voting/Proxy Form
Online Meeting Guide

How can we help?