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AGM #9
Minutes of Annual General Meeting No. 9
Held on 26th August 2011 at 10 a.m., at Caboolture Golf Club.
Board Members Present Roy Mollenhagen (Chairman), Chris Morris(Secretary), Mike Burgess, Kevin Colbran and Teena Tolhoek.56 members attended.
Apologies from Board Members: Joseph Law, Robert Walsh (overseas)
Apologies from Members: Bill Yates, Joyce Yates, John Anderson, Jeremy Lee, Nancy Lee, Rhonda Davies, Les Somer, Clayton Somer, Frances Howell, Lesley O’Hern, Owen Steinhardt, Lyn Steinhardt, Don Rackemann, Sue Rackemann, Matthew Rackemann, Penny Rackemann, Emily Rackemann, Warrick Rackemann, Robert Walsh, Joseph Law, Sharon King, Maisie Abel, Ailsa Kreher, Ron Kreher, Margaret Halfacre, Louise Kreemer, Rod Sengstock, Ernest Gavey, Gordon Drew, Wendy Drew, Col Waldock, Throy Jenings, Patricia Jenings, Terri Wright, Leonie Dennison, Shereen Chappel, Sylvia Parsons, Corey Fowler, Brian Crealy, Patricia Higgins, Don Meers, Lola Woolich, Joanie Bailey, Judy Fischle, Brian Fischle.
Proxy Votes The Chairman advised the meeting that there had been 8 valid Proxy Votes received, to be used if required.
Previous Minutes The Chairman asked the membership if any person had not read the Previous Minutes. There was no response. He asked if any person had any questions or comments on the previous minutes. Alan Wildman asked leave to comment that he had missed the previous AGM though illness and wanted to say he was pleased to see the Directors and Manager finally being paid a fair fee. There were no other comments or questions.The Chairman asked for a motion to Adopt the Previous Minutes. Moved: Kath Wessling. Seconded: Eddie Abrahams. On a show of hands, none against. Carried.
Chairman’s Report The Chairman asked the members if everyone had read the Chairman’s Report. No person responded in the negative. The Chairman then asked the members for any questions about the report. Alan Wildman asked for clarification concerning the refund of cancelled members capital if there were insufficient funds available. The Secretary responded that if the Board felt it necessary the refund liabilities could be converted to Debentures at interest.The Chairman asked for a Motion to Accept the Chairmans Report.Moved: Alan Wildman. Seconded: Peter Clements. On a show of hands, none against. Carried.
Directors’ Report The Chairman asked the members if everyone had read the Directors’ Report. There being no negative response, he asked if there were any comments or questions on the report. Alan Wildman asked if members who were not on email could receive progress reports by ordinary mail. The Secretary advised that this was too time-consuming and costly, but if there was anything special it could certainly be done. Stan O’Connor asked about the number of Board Meetings held each year. The Chairman advised that the Board met as necessary, as the funds were not available previously to meet without good reason. There being no further questions, the Chairman asked for a Motion to Accept the Directors’ Report. Moved:Marie Barrett. Seconded:Ted van Ginneken. On a show of hands, none against. Carried.
Financials 2010 The Chairman asked the members if everyone had read the Financials 2010. No response in the negative. He asked for any questions or comments on the Financials. Alan Wildman asked for an explanation of the write-off for Impairment Charge. The Secretary said if members wished to ask questions about the financials they should request the presence of the Auditor but he would attempt to answer the question with the qualification that he is not an accountant. He said the investments were unable to be valued at real value, in the case of Foltainer because there were no orders in the book yet, and in the other cases because we could not get the financials for them. So in order to complete our financials, they are written down as Zero value. There were no other questions. The Chairman then asked for a motion to adopt the Financials. Moved: John Locke. Seconded: Chris Dawson. On a show of hands, none against. Carried.
Retention of Auditor. The Chairman set out our satisfaction with our auditor, and asked for a motion that the Auditor be retained. Moved: Alan Wildman. Seconded: Marie Barrett. On a show of hands, none against. Carried.
Election of Directors The Chairman conducted the Election of Directors. He said he had received only two nominations for the position, that of Robert Walsh and Chris Morris, the two Directors who were standing down. Since no other members stood for election, he declared the two nominees elected without contest. The members applauded the two Directors on their re-election.
General Business The Chairman asked if any members had any new business they wanted to discuss. Alan Wildman asked what the notice was about Smart Media Technologies. The Secretary explained what is was and how it produced income, recommending it to all members who have a computer. Following that the Chairman asked the Secretary to address the members regarding new developments with Foltainer.The Secretary said he had a notice from Robert Walsh and read it to the meeting. Mr Walsh had decided to sell the New Patents owned by Foltainer International Pty Ltd to a Malaysian company as the only way forward for the project, and the only way to ensure our members receive their due rewards. He was influenced by his age and health, and the difficulties of fund-raising in Australia with the restrictions on the company. He thanked the shareholders for their support and congratulated them on what he considered an excellent result. The Secretary said he had flown to Kuala Lumpur last week to satisfy himself that the deal was genuinely to our advantage, and met the people involved, and he was delighted to say he was fully satisfied that this was not only a necessity but a great opportunity.Graham Timmins rose to say that he wished to Move that the meeting thank Robert Walsh for his work on our behalf. Moved: Graham Timmins. Seconded: Fay Meers. Carried unanimously to sustained applause.
The Meeting concluded at 10.35am.
AGM #8
Minutes of Annual General Meeting No. 8
Held on 25th February 2011 at 10 a.m., at Caboolture Golf Club.
Board Members Present:Roy Mollenhagen (Chairman), Chris Morris(Secretary), Joseph Law, Mike Burgess, Kevin Colbran and Teena Tolhoek.
Apologies from Board Members:Robert Walsh (overseas)
83 members attended.
Apologies from Members:Damian Pagan, Michelle Goulding, Charmaine Goulding, Kenneth Bowler, Eileen Latimer, Don Meers, Peter Galuzzo, Brian Fischle, Lola Woolich, Sandra McDonald, Christine Edmonds, Pat & Graham Urquhart, Delphine Trace, Alan Wildman, Nerlaine Eastwick, Robert & Kay Bradford, Gordon & Wendy Drew, Val Milton-Thompson, Judy & Peter McNally, Rod Sengstock, Elaine and Graham Ford, Debbie Vote, Leonie Dennison, Lyn Barber, Jean Pledger, Kerry Talbot, Geoff Davis, Ben Davis, Noel Davis, Tammy Davis, Cindy Davis, Margaret Halfacre, Debbie Fowler, Paul Taylor, Raymond Steele, Ian Curry, Sue Rackemann, Matthew Rackemann, Emily Rackemann, Warrick Rackemann, Penny Rackemann.
Proxy Votes The Chairman advised the meeting that there had been 21 valid Proxy Votes received, to be used if required.
Previous MinutesThe Chairman asked the membership if any person had not read the Previous Minutes. There was no response. He asked if any person had any questions or comments on the previous minutes. No response. He asked for a motion to Adopt the Previous Minutes. Moved: Jim Thompson. Seconded: Graham Woodley. On a show of hands, none against. Carried.
Chairman’s Report The Chairman asked the members if anyone required him to read his report to the meeting. No person responded, so the Chairman asked the members if they had read the report, and there was general agreement that they had. The Chairman then asked the members for any questions about the report. Louise Kreemer asked for an explanation of the paragraph about Save Australia Campaign Pty Ltd. The Chairman asked the Secretary to explain our connection to that. He explained that we had investments in that company, and as its previous management had left it without funds, the Coop decided to ensure the company’s solvency so as to protect its interest in it, and had loaned it $500 to date. No further questions were asked. The Chairman asked for a motion to adopt the Chairman’s Report.Moved: Graham Woodley. Seconded: Col Waldock. On a show of hands, none against. Carried.
Directors’ Report 2008 The Chairman asked the members if anyone required the Directors’ Report 2008 to be read to the meeting. There being no such request, he asked if there were any comments or questions on the report. There were none. He then asked for a motion to adopt the report. Moved: Peter Clements. Seconded: Florence Dennis. On a show of hands, none against. Carried.
Directors’ Report 2009. The Chairman asked the members if anyone required the Directors’ Report 2009 to be read to the meeting. There being no such request, he asked if there were any comments or questions on the report. There were none. He then asked for a motion to adopt the report. Moved: Graham Woodley. Seconded: Elaine Thompson. On a show of hands, none against. Carried.
Financials 2008 The Chairman asked the members if everyone had read the Financials 2008. No response. He asked for any questions or comments on the Financials for 2008. No response. He then asked for a motion to adopt the Financials for 2008. Moved: Kathleen Wessling. Seconded: Hilary Berger. On a show of hands, none against. Carried.
Financials 2009 The Chairman asked the members if everyone had read the Financials 2009. No response. He asked for any questions or comments on the Financials for 2009. No response. He then asked for a motion to adopt the Financials for 2009. Moved: Marie Barrett. Seconded: Ted van Ginneken. On a show of hands, none against. Carried.
Remuneration of Directors.The Chairman asked the Secretary to address the meeting regarding Directors Fees. The Secretary said he did not receive Directors’ fees and was therefore the proper person to address the issue. He explained the past pay structure of the Directors, and their service to the Cooperative, and what the extraneous duties of the Directors had become, and asked the members present to Resolve that their fees be set at $350 per meeting attended. Moved: Stanley O’Connor. Seconded: Eddie Abrahams. On a show of hands, none against.Carried.
Retention of Auditor. The Chairman set out our satisfaction with our auditor, and asked for a motion that the Auditor be retained. Moved: Peter Clements. Seconded: Graham Woodley. On a show of hands, none against. Carried.
Election of Directors The Secretary conducted the Election of Directors as the Chairman was one of the Directors involved. He said he had received only two nominations for the position, that of Kevin Colbran and Roy Mollenhagen, the two Directors who were standing down. Since no other members stood for election, he declared the two nominees elected without contest. The members applauded the two Directors on their re-election.
General BusinessThe Chairman said as a matter of informing the members, he advised that the Board had decided to re-appoint Chris Morris as Manager, at a higher rate of remuneration than previously, to reflect the work he was doing and the increasing responsibility of that work. He said he had been underpaid for several years, but we could now manage a higher pay and the Board thought it appropriate to do so.Ray Bird said he thought that should wait until we were more financial, and Elaine Thompson agreed. Sharon King said she wanted to point out that it was only due to the Secretary’s work and that of the Board and past Boards that the Coop existed at all. Ted van Ginneken said he thought the members should be thanking the Board and those others who had kept it going. No other members had comment on the issue. The Chairman said he was advising the members of a Board decision, which had already been made. In response to a question from Graham Timmins about future investments, the Chairman said the only project being considered at present was the Credit Union, which was still a long way off in any case. He said the Board wanted to pay back our members before any further investments. The members applaudedThere being no further questions or comments, the meeting concluded at 11am.
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