Greenfern Annual Meeting resolutions passed

Greenfern Industries Limited (NZX:GFI) Annual Meeting resolutions passed

Greenfern Industries Limited is pleased to advise that all resolutions were passed at its Annual Meeting which was held today on 22 September 2022.
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The Resolutions were decided by poll. The final results of the voting by poll were:

Resolution 1 – Auditor fees and expenses
“That the directors of the Company be authorised to fix the fees and expenses of Crowe New Zealand Audit Partners as the Company’s auditor.”

The votes were:
For: 41,960,821 (87.57%)
Against: 5,953,992 (12.43%)
Abstain: 22,000

Resolution 2 – Election of Daniel Casey
“That Daniel Casey be elected as a director of the Company.”

The votes were:
For: 41,960,821 (87.57%)
Against: 5,953,992 (12.43%)
Abstain: 18,000

Resolution 3 – Election of Kirsten Taylor
“That Kirsten Taylor be elected as a director of the Company.”

The votes were:
For: 41,960,821 (87.56%)
Against: 5,953,992 (12.44%)
Abstain: 14,000

Resolution 4 –Election of Marvin Yee
“That Marvin Yee be elected as a director of the Company.”

The votes were:
For: 40,081,638 (87.03%)
Against: 5,971,575 (12.97%)
Abstain: 1,883,600

Resolution 5 – Payment of Director fees through issue of shares
“That the current maximum aggregate amount of remuneration payable by the Company to Directors of NZ$350,000 per annum may, at the Board’s discretion, in whole or in part, be through an issue of Equity Securities (as that term is defined in the Listing Rules) in the Company, provided that the issue is in compliance with Listing Rule 4.7.”
To consider and, if thought fit, to pass the following special resolutions:

The votes were:
For: 13,684,235 (69.57%)
Against: 5,984,792 (30.43%)
Abstain: 28,267,786

Resolution 6 – Extension of Cannvalate Agreement
“That, for the purposes of section 129 of the Companies Act and Listing Rules 4.2.1 and 5.2.1, the Company’s entry into, and performance of the transactions contemplated by, the Cannvalate Agreement, including the issue of ordinary shares to Cannvalate upon the achievement of stated milestones, the issue of work orders under the Cannvalate Agreement, and the Company’s entry into all associated and related agreements, transactions and matters and taking all other actions that are reasonably necessary to exercise its rights and perform its obligations under the Cannvalate Agreement (in each case, on the terms set out in the accompanying Explanatory Notes) be approved.”

The votes were:
For: 41,932,821 (87.53%)
Against: 5,975,992 (12.47%)
Abstain: 28,000

Resolution 7 – Issue of shares pursuant to Rights Issue
“That, for the purposes of section 129 of the Companies Act, the Shareholders approve the issue of up to NZ$5 million of new ordinary shares pursuant to the Rights Issue on the terms set out in the accompanying Explanatory Notes (which terms require an issue price not lower than the price equal to a 50% discount to the 30-day VWAP price prior to the Rights Issue being made and the consideration for and terms of the issue to be, in the Board’s opinion, fair and reasonable to the Company and to all existing Shareholders).”

The votes were:
For: 41,936,821 (87.52%)
Against: 5,977,992 (12.48%)
Abstain: 22,000


For further information contact:

Dan Casey
Managing Director
Mobile 0274202476
Email [email protected]

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