Results of AGM held on 5 December

[richard@imutual]

Many thanks to those of you who tuned in to our AGM webcast last night, and in particular those who 'tweeted' their questions

We'll upload the video coverage to our Youtube channel in due course, but in the meantime here are the results of the voting:

- To receive and adopt the report of the directors and the financial statements - for the year ended 30/6/11
For: 72209
Against: 0
Abstained: 1034

- To re-elect Richard Lawrence Yendall as a director of the company.
For: 73243
Against: 0
Abstained: 0

- To re-elect Susan Catherine Yendall as a director of the company.
For: 71984
Against: 108
Abstained: 1151

- To re-appoint Cooper Adams Ltd as auditors
For: 60464
Against: 0
Abstained: 12779

- To authorise the directors to agree the auditors' remuneration.
For: 67836
Against: 748
Abstained: 4659

50 members took part in the vote. The voting numbers relate to number of shares held by those members as at the qualifying date of 11 November

On behalf of Sue and myself, thank you for our re-election as Directors. We're looking forward to the challenge of growing imutual's membership over the coming year - with your help, of course!

[Mince_Pie]

Wow - 50 members voted.... My 378 shares won't have made much a difference either way

Pretty unanimous for you Richard.

[cccashbacklover]

[quote="Mince_Pie"]Wow - 50 members voted.... My 378 shares won't have made much a difference either way

quote]

My thoughts exactly M.P

My 10847 wouldnt have made any difference either -

[BeautifulSunshine]

I attended. The webcast sometimes froze on me don't know if others had same problem Also how do you vote? I intended to vote but got confused how to do it.

[rbp22]

do we the shareholders get to see a copy of the report and accounts that were received and adopted at the agm?

[richard@imutual]

Yes, see here

[afcbtim]

ENjoyed the experience

If and I stress if someone wanted to stand as a director at future AGMs either as a replacement for an existing director or an additional direct, is there a mechanism in place?

My thought is that as we are a remotely located bunch of owners, it will be difficult to gain or judge support. Would we be able to discuss through say the shareholders forum?

This is a purely hypothetical quaetion to see how it would work - I dont see any need to get rid of anyone (though someone must have done looking at the vote!

At some stage though, it woould be nice to have a'user' representative on the board - unpaid of course!

[richard@imutual]

If and I stress if someone wanted to stand as a director at future AGMs either as a replacement for an existing director or an additional direct, is there a mechanism in place?

The straight answer is "Yes"; Section 3.11 of the Company's articles state:

3.11 No person other than a Director retiring at the meeting shall, unless recommended by the Directors for election, be eligible for appointment or reappointment as a Director at any general meeting unless not less than seven nor more than 42 days (inclusive of the date on which the notice is given) before the date appointed for the meeting there shall have been lodged at or sent to the Office notice in writing signed by some member (other than the person to be proposed) duly qualified to attend and vote at the meeting for which such notice is given of his intention to propose such person for election stating the particulars which would, if he were so appointed or reappointed, be required to be included in the Company’s Register of Directors, together with notice in writing signed by the person to be proposed of his willingness to be appointed or reappointed

In due course, we may well need to recruit an additional director to help with the strategic development of the company; perhaps someone with significant corporate experience and contacts. But I think that's a bit different from what you have in mind i.e. a "member director"

It would be good to do something like that, to reinforce our 'mutual' model, provided that it has a clear benefit for members. Bearing in mind that we're already quite open and answer questions about the company on these forums. Open to suggestions on how this might work...

[Mel]

I wonder who the unkind member was that voted against Sue being a director? (And why?)

[BeautifulSunshine]

I wonder who the unkind member was that voted against Sue being a director? (And why?)

or could have been a prankster.