Annual General Meeting
MLA holds an annual general meeting (AGM) for members of the company each year, within five months of the end of financial year.
The business of the AGM may include:
- receiving MLA's financial statements, directors' report and audit report for the year ended 30 June 2011
- considering the election of directors to the Board
- considering any resolutions proposed by members of MLA or the company
- questions or comments from members about management of the company
The MLA AGM can be attended by MLA members; any proxy, attorney or representative appointed by an MLA member; or other people permitted by MLA.
Each year, the AGM is held in a different location to share the opportunity for members to attend. Recent AGMs were held in Longreach (2011), Launceston (2010), Darwin (2009), Orange (2008) and Rockhampton (2007).
Read more about MLA's 2011 annual general meeting and producer forum
Answers to common questions about the AGM, Levies Notice and voting process
Securing full voting entitlements
All members are entitled to one vote at the AGM. Those members who submit their Levies Notice to MLA by the deadline will have their voting entitlement calculated in accordance with MLA's constitution.
All members are sent a "Levies Pack" in July, which includes a personalised financial year Levies Notice. The Levies Notice is the way members inform MLA about the amount of levies paid during the previous financial year. This information is used as the basis for determining full voting entitlements.
To ensure members receive the full voting entitlements each year, they must complete and return their personalised Levies Notice to MLA by the nominated deadline. Once completed, the Levies Notice needs to be returned to MLA using the reply paid envelope provided in the "Levies Pack" by the deadline.
Members who do not send their Levies Notice to MLA by the deadline will be allocated a single vote.
Voting by proxy
MLA members who can't attend the AGM can still vote by proxy or attorney. To vote by proxy, follow the instructions on the Voting entitlement and proxy form that is included in the AGM pack.
The formal AGM pack is posted to all members in October, this includes formal AGM papers and a proxy form. This proxy form indicated the resolutions to be voted on at the AGM and the number of votes the member has.
If you don't know anyone attending the meeting, you can nominate the chairman to vote as your proxy. The Voting entitlement and proxy form can also be lodged online.
Calculating member votes
As a general rule, producers receive one vote for every dollar paid in transaction levies to MLA up to $29,088. For producers paying more than this in transaction levies the rate per vote decreases on a sliding scale.
Example:
John Smith from Orange, NSW sold 100 steers and 500 prime lambs during 2010/11.
- Livestock sold = 100 steers @ $5.00 a head levy
Total levies paid = $500
Levies paid to MLA = $458
Voting entitlement = 458 votes
- Livestock sold = 500 prime lambs @ $70 a head 2 % levy a head
Total levies paid = $700
Levies paid to MLA = $591.50
Voting entitlement = 592 votes
If John were to take up his full voting entitlement he would secure 1050 votes at the AGM (based on a simplified calculation of voting entitlements).
External review of voting process
MLA engaged the independent auditor Ernst & Young to conduct certain procedures with respect to the internal controls around the levies handling and voting entitlement calculation processes for the 2006 and 2009 Annual General Meetings.
Ernst & Young assessed the internal controls around mailing, collection and recording of levies notices and the entitlement calculation, together with the internal audit procedures conducted by MLA and its member registry, Computershare. No exceptions were identified from the procedures conducted.
More information
Susan Mills
Phone: 1800 023 100
Email: membership@mla.com.au
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