I'm very proud of the Board that represent you as Shareholders, and it's a real privilege for me to be able to lead such an accomplished Board. If I may introduce you to those Board members. Alison Terry, who is our Deputy Chair and Lead Independent Director. Felicity, who is our newest addition to the Board. Felicity Gooding joined us just over a year ago, Felicity?
Yeah, January 25.
January last year, that's right. And really introduced tremendous depth on our financial capability, and also that helped us a lot with the financing. I'm very proud to have you on our Board, Felicity. Clive Jones is the original Founder of the company in many respects. He pegged the tenements that 20 years ago have now gone into construction as the Etango Mine. Gavin Chamberlain is our Chief Executive Officer. Gavin's based in Cape Town, so we're very pleased to have him over here. Since the last AGM, I'm proud to say that Gavin has been promoted to Managing Director. Bruce McFadzean is a Non-Executive Director and brings very deep experience in mining and development.
I'd like to thank Bruce for being very sleeves rolled up and in the detail, following in great detail the various technical work that's being done and the progress of the project itself. In addition, Karen Logan is our Joint Company Secretary. Gemma Newton kindly joins us from our auditors, Ernst & Young. Wendy Turner in the back is representing Computershare and will be assisting us with the poll and the various forms of voting. We do have an apology from Steve Herlihy, our Chief Financial Officer and Joint Company Secretary. Steve regrets that he isn't able to be here today. In terms of formalities today, most of us would have been through at least one of these recently. You should have received, if you're a Shareholder, you should have received an admission and voting card.
If you haven't yet registered and you don't have your voting card, please speak to Wendy Turner at the back, or you can find her representatives from Computershare just on the entrance on the left there. We will attend to the items as set out in the notice of meeting. There is a change to the agenda. That is because, as you might have seen from our company platform, Danny Goeman regretfully needed to tender his resignation from the board owing to the increased demands of having a close family member with some serious health concerns. Regretfully, Danny's not here today on the board, and therefore we have withdrawn resolutions two and seven. The way it works is we will pose each of the resolutions. Shareholders both in present and online will have the opportunity to ask questions of each of those resolutions.
Once those questions have finished, we will put the resolution to a vote on a poll. If you do have a question, please raise your hand and help us by stating your name before asking the question. If you're online, there is a Q&A box at the bottom of the screen. If you can type your question into that, including your name, and Emma Culver, our Investor Relations and Communications Manager, will read that out to the meeting with any assistance required. Once we've concluded the formalities, Gavin Chamberlain, our Managing Director and Chief Executive Officer, will give you a presentation on what the team has achieved on behalf of shareholders over the last year. That will be available online.
For participants online, I'd encourage you to download that presentation from our website or the ASX, because we will stream the visuals of Gavin speaking rather than the presentation itself. I'm sure if you have that downloaded, you'll be able to follow along just fine. Following the presentations, we will open the floor for questions, both to people in the room and following that same procedure using the Q&A box at the bottom of the screen for those online. The minutes of the last meeting have been approved by the board and signed by myself. The minutes are tabled, and if anyone is particularly diligent, they're available for inspection. As I said, the voting will be conducted by a poll, and the polls will be conducted via Computershare at the end of the meeting.
I will say that where proxies have been given in favor of the Chair, I will be voting those proxies in favor of all resolutions. I think it's time now to move to the formal business of today's meeting. The first item of business is to receive and consider the financial report of the company for the year ended 30 June 2026, as you can see on the screen. First of all, can I ask if there's any questions? No questions in the room. Emma, are there any questions online? Okay, great. This matter does not require a vote, as I'm sure we all know, so that means that we can move on to the next resolution. Resolution one is adoption of a remuneration report. That is displayed on the screen. There we go. Thank you. That's displayed on the screen and, of course, in the notice of meeting.
I note that the vote on this matter is considered to be advisory only, and the Corporations Act provides for a two-strikes rule, that requires a board spill if the report receives two no votes of 25% or more over two consecutive years. No strike was recorded at last year's AGM. I would note that no member of Bannerman's key management personnel or their closely related parties is permitted to vote on this resolution. Can I ask if there is any questions on the remuneration report? Okay, thank you. None in the room. Emma? None online. In that case, since we are conducting polls at the end of each of the resolutions, we will now move to the next item of business, which is resolution three, noting that resolution two related to Mr. Danny Goeman and therefore has been withdrawn.
I feature in this resolution, so I am going to ask our Deputy Chair and Lead Independent Director, Alison Terry, if she would please chair this section of the meeting. I hand over to Alison.
Thank you, Brandon. So resolution three, as set out in the notice of meeting and also as displayed, is to re-elect Brandon Munro as a Director of the company. The notice of meeting includes the details of Mr. Munro's background and experience, and I note that the board, excluding Mr. Munro, recommends that Shareholders vote in favor of the resolution. Are there any questions? None in the room. Emma? Nope. Thank you. I will now hand the chair back to Brandon.
Thank you, Alison. Resolution four, as set out in the notice of meeting and displayed, is to re-elect Alison Terry as a Director of the company. As with myself, the notice of meeting contains details of Alison's background and experience, and the board, excluding Alison, recommends that Shareholders vote in favor of this resolution. Are there any questions on the resolution? I do not think we are seeing any online. Thank you. That means that we can now move on to the next item of business. Resolution five relates to the ratification of the prior issue of placement shares. Resolution five is set out in the notice of meeting and displayed.
It concerns the ratification of the prior issue of 31 million shares pursuant to ASX Listing Rule 7.1, and that was under the institutional placement that we conducted, following the financing transaction becoming unconditional, and that raised $ 124 million gross, and that was in September 2026. Are there any questions on resolution five? Okay, thank you. Emma, nothing online? Okay, in that case, we can move on to the next item of business. Resolution six, as set out in the notice of meeting and displayed on the screen, that seeks approval for the issue of 73,090 shares in the company to CPU Share Plans Pty Ltd as the trustee of the Bannerman Energy Employee Share Trust.
This is an implementation step that ensures that the employee incentive plan that we have in place for our shareholders can be implemented and managed in a much more effective way, and in particular for our shareholders in Namibia, it enables them to access, understand, and ultimately sell Bannerman shares that issue after the issue of their EIP zero exercise price options. So it is a very helpful step that we have taken to ensure that the full value for shareholders of our employee incentive plan is understood and realized and becomes a competitive advantage in Namibia. Otherwise, they find themselves left dealing with a confusing process from Namibia to have to sell shares into the Australian market. There are a number of other administrative benefits that will help us very much as we grow as a company and employ more people. Are there any questions on this resolution?
Okay, not seeing any online, Emma, so I think we can therefore move on. Resolution seven related to Mr. Danny Goeman, so that has been withdrawn. We can now move to resolution eight. As you can see on the display and in your notice of meeting, it seeks approval for the issue of 279,958 zero exercise price options to Mr. Chamberlain or his nominee under the employee incentive plan. Are there any questions on this resolution? Okay, thank you. No questions in the room and no questions online. I am the subject of the next resolution, so I will again hand over to Alison Terry, our Deputy Chair and Lead Independent Director, to chair this aspect of the meeting.
Thank you, Brandon. So resolution nine, set out in the notice of meeting and as displayed on the screen, seeks approval for the issue of 173,828 zero exercise price options to Mr. Brandon Munro or his nominee under the employee incentive plan. Are there any questions on this resolution? Emma?
There is a question online, just asking if there were any material proxy protest votes against this item or any other items in today's meeting from Steven Main.
No material objections to my knowledge. There were no votes, material votes against. Okay. If there are no further questions, I will now hand the chair back to Brandon.
Thank you, Alison. Resolution 10, as in the notice of meeting and on display, it seeks approval for the increase in the annual Non-executive Director fee pool from $ 750,000 per annum to $1 million per annum. This was last revised all the way back in 2008, and as we found that we are now entering into a greater level of complexity in the business as we now enter into construction and consider the growth trajectory of the company going forward, we feel that that constraint from 2008 might become a little more limited as we seek to introduce new talent on the board in the coming years. Are there any questions on this resolution? None from the floor, none online. Thank you.
I now declare the polls on resolutions one, three to six, and eight to 10 now open, and I appoint Wendy Turner from Computershare to act as the returning officer, please, Wendy, to conduct the poll and to report to me as chair the results of the poll. I will just spend a moment outlining the poll process for everybody. People who are entitled to vote on this poll must all be shareholders, proxy holders, or corporate representatives of shareholders. To be eligible to vote, you would have been issued with an admission and voting card such as this when registered for the meeting.
If there's any person present who believes they are entitled to vote but they do not have an admission and voting card, please would you speak with Wendy, or to her colleagues outside the door after I've finished outlining the poll procedures, and we will ensure that you're included. Each of the resolutions one, three to six, and eight to 10 are being put to this poll. On a poll, each shareholder, whether voting in person, by proxy, or by representative, is entitled to one vote for every share held by that member. You should record your vote for each of the resolutions on the reverse of your admission and voting card by placing a cross in either the for or against box on the card, and there is an opportunity to abstain as well.
Please print your name at the bottom of the voting card if you're a shareholder, or if you're attending as proxy representative or attorney, the name of the shareholder you are representing. If you hold multiple proxies, please complete the shareholder name from the proxy summary attached to the relevant voting card. So don't aggregate if we are holding multiple holdings. If the proxy is the chair of the meeting, as I am, I must vote on a poll, and I must vote as directed. As chair, if I am not directed, as I said earlier, I will vote in favor of all resolutions. If the proxy is not the chair of the meeting, the proxy need not vote on the poll, but if the proxy does so, the proxy must vote as directed by your shareholder.
If you're a proxy holder with open votes, you may vote as you wish. Please, once you've finished completing your voting card, please indicate, and Wendy will be very happy to put it in the ominous-looking pink box that she's brought along. Please bear in mind that you cannot be counted unless you've lodged your voting card. So that includes any proxy holder who only has directed votes. So please make sure that you represent any directions from your appointing shareholder. Please let us know if you need any assistance, and the meeting will now be held over whilst the voting is undertaken. Hold on, Wendy.
Yep.
Okay. Sorry. So I voted that one by proxy, I think.
There's two.
Thank you.
We'll have it on.
Okay. Thank you, Wendy. I can now declare the poll closed. Wendy Turner, our Returning Officer, will take the voting cards back to the Computershare office to compile and report back to me the results of the poll. Those results will then be formally announced on the ASX announcements platform. Ladies and gentlemen, and those online, that completes the formal business of our annual general meeting today. I declare the meeting closed at 10:19 Western Standard Time. We now have a presentation from our CEO and Managing Director, Gavin Chamberlain, and then there will be the opportunity for questions in the room and online following the presentation.
While Gavin's getting organized, I would like to just extend, certainly on behalf of myself and the board, but I feel that I can extend on behalf of all of our Shareholders, the thanks for the tremendous contribution that Gavin is making to the company. Gavin joined us a few years ago, initially as Chief Operating Officer, then after a year of proving himself to be an outstanding leader, as well as bringing tremendous capability in project development to the company, we were delighted to appoint him as Chief Executive Officer. I can certainly speak on behalf of the whole board in saying we couldn't be more delighted with the way that Gavin is leading and developing the company, the way that he has overseen the development team, the results that they are delivering with the early works construction being on time and on budget.
Gavin, I just want to extend a heartfelt thanks for how well I can sleep at night because of the great job that you are doing.
I do not sleep so well.
You present from there?
Yeah, no, I am going to stand up.
Okay.
My voice gave.
I have the pleasure in handing over then to Gavin Chamberlain, our CEO, to present this year's address to the meeting.
Welcome, ladies and gentlemen. It is always a pleasure to be back in Perth, which I do not get to very often. It is actually my first proper trip in Perth this year, so it is always pleasing to be here. I am going to talk about the year in review, but the excitement for us really actually took place past the end of the year. The most exciting thing that happened to us in the year was actually the announcement of our CNNC deal, and all the action and activity around that took place post the end of the year. But I am going to talk to that as well, because I just cannot stop myself. If we can move on. I am not trying to sell you shares, so you need to read everything yourself. If we can just pass through these ones quickly.
Right, the highlights for the year, and when I say for the year, I am talking about the current year, not the financial year, because as you will see, a lot of this took place post the end of June. Starting off, in February, we announced a strategic partnership with CNNC, a really phenomenal deal for us. We effectively were, at that point in time, would have been construction funded. On top of that as well, a really favorable 60% offtake deal with CNNC, which is linked directly to the uranium sales. Following that, we took an FID decision in October.
In between the announcement of the deal, we announced the CP closure, we announced that we finally completed the deal, and then in October, we took the FID decision, moving to full-blown construction, which obviously is a massive step forward for a company that has been in development for a while. We are now a full-blown construction company. When I say construction company, a company in construction. The other thing that we can be very pleased with is the way that the team on site has actually come together and really got a proper safety culture running. We achieved over 16 years without a single lost time injury. At the moment, just to put that into perspective, in those 16 years, the hours that we were spending on a yearly basis, and now we are actually spending them in a month.
The climbing, the increase in people on site is phenomenal, and the team has had the time over the last two years while we have been in early works to actually reach maturity and be ready to take this project into full-blown construction. Our strong social license in Namibia obviously maintains, and what I would like to do is introduce Danie van Aswegen, who will stand up quickly. Danie was recently announced as our CEO of Namibia, a well-experienced construction man who I have known for a number of years, and is really growing the culture in Namibia fantastically. Danie, welcome and congratulations again on your appointment as CEO of Namibia.
Thank you.
Over and above that, though, is we also announced the signing of the NamWater agreement, which had been long outstanding. That was part of the CPs for the deal. Then over and above that, our power has also continued, and the contracting side of that is also being put in place. We are very pleased to say that at the moment, we are still on track with our 353 capital estimate of ±10%, and we are currently on the critical path on track to deliver uranium by 2028. So, these are real big achievements for a company that is growing. I think another really interesting thing is, obviously, because we are in Namibia, the employment of Namibian people is really important for us. The fact that our entire site staff at the moment, 99% of the contractors on site at the moment are actually Namibian.
So, what we are getting is a world-class construction project built by Namibians, which is actually really, really good. So, how have we done it? I think a lot of you have heard me talk about being prepared and being patient. We have always been prepared for the next step, but we have always been patient and waited for the right time to make the move. I think that has really played out in the strategy for the company over the last couple of months. In fact, the last number of years, we can say the last 20 years. There has always been a plan, and we have always tried to be prepared. So, we stayed ahead by planning for the next step. There are a couple of examples of this. When we got our mining license, the day afterwards, we actually placed our first contracts on site.
Because we prepared, we had the contracts ready to run. The day after FID, we actually had 30 contracts awaiting to be placed, and you will see in the next quarter a significant step up in the number of commitments that we made for construction contracts. The other thing is we need to understand the jurisdiction. One of the most pleasing CPs we did on the deal was getting the Competition Commission approval in Namibia. We did that in under a month because we understood their requirements. We already were aligned with what they wanted. When they came back to us with their conditions, we were actually prepared even for more than what they requested. So, we really are aligned with what the Namibian government wants, but at the same time is whatever we are doing is being commercially driven in terms of decisions that we make in contracting.
Then building the culture, and this really has started with Danie and his team on site, where we say safety is not luck. Safety is something that you actually do, and safety is personal. That culture we are trying to roll out into a resilient culture that actually reflects across the entire company, not just safety. But we started with safety, and we will roll it out over the entire company. This here, obviously, CNNC, for those who do not know them, are the biggest nuclear power provider in China. Potentially at the moment, they account for over 50% of the power stations, nuclear power stations being built in China. So, a really good partner in terms of the future. What I have found, I have had experience with a number of Chinese companies before, one of the easiest companies to work with.
Our initial board meetings have been extremely positive and very, very supportive, which has been a major positive of this deal as well. That was us in China, when we signed the share subscription agreement back in February. This is the celebration of FID. Just to identify some of the players on that slide, that is the mining minister from Namibia and the mining commissioner in the non-mining clothes. That is our local Director, Twapewa . She is the Chair of the local board. Then obviously Danie, myself, and Frank. Frank is the CNNC representative on our board. You can just see by the smiles there that this is a very meaningful step for everybody involved in this deal. I talk about safety leadership and local capability.
One of the things that the company did is we said to the contractors working on the project, "What we would like you to do is to actually start driving safety." What happened is, once a week, we have a big get-together where the entire construction site comes together, and the contractors themselves present to us as to what they are going to do on safety. One of the real positives that came out of this is two local employees from one of the local contractors went to a local sound company and recorded a safety song. They then came to site on their own accord, at their own cost, and performed the safety song for the entire site. Since then, we have used that safety song on a number of stakeholder engagements.
It just shows that the safety culture is being driven from the bottom. When you come up with an idea and the people buy into it, and you start seeing it being driven from the bottom, you know they are onto a winning culture. I think Danie and his team have done a fantastic job in achieving that. I thought I would take you back to last year, because last year I just showed you a whole lot of photographs of the site. But what I want to show you what we have achieved in the year. On the left, sorry, carrying on a bit fast. On the left, you have got the original heap leach pads and the dams. That was the photograph I showed you last year on the left. That is the photograph on the right.
The biggest significant change on the right is obviously the heap leach pad is completed, the dams are completed, but you can see on the right-hand side there is a little white strip. That is the wet plant footprint. That is where the wet plant will physically be built. That gives you an idea of what we have achieved in a year. The primary crusher, last year when we were here, you saw big excavation, and in fact, we took the photograph when we were pouring the foundations for the primary crusher. That is where we are today. The primary crusher is now being completed. The concrete pour is completed. We are backfilling behind it. More importantly, you can also see the row of foundations coming out of the hole, which is where the conveyor will actually come out of the primary crusher. Significant progress in a year.
The coarse ore stockpile, it was a little excavation in the far-off distance. Now, we completed it. We've got the wing walls in, and we're currently building the structure that will actually hold the conveyor where the rock comes out and falls onto the stockpile. That structure has been completed in under a year. The fine ore silo, you would have seen the little foundation in the photographs last year. That's where we are now. We've got one pour to go, and we will be completed. By the way, this is all heavy work, so I hope you understand. The dry circuit, that was the sort of general layout of the dry circuit. You can see we started on the stockpile tunnel. We started scratching around on the tertiary building, and that's what it looks like today. In the far distance, you've got the silo almost completed.
You've got the tertiary crusher concrete work almost completed, and you've got the stockpile already completed. Gives you an idea of the progress we've made in one year. At the moment, we focus on the delivery of Etango. That's where we're going. People and safety first continue to be our main priority and will remain our main priority while, not just through construction, but also into production. Construction itself, the fact that the wet and dry plant concrete work is moving ahead means the next step will be the structural steel. Those contracts have been placed, and we would expect structural steel to start coming to site early next year. Infrastructure, the progress on the permanent water power, at least permanent water pipeline, is significant.
We've completed phase 1A, including the bridge over the river, and we're now into 1B, which is effectively the remaining 30 km of pipeline that take it from top of wind to the mine. Then production readiness. This is really the other focus area for the team in the movie at the moment. It's all very well that we can construct, but in two years' time, we need to be in production. The whole production readiness is getting extreme focus from this team, which is steadily growing on site in terms of bringing new people in that are focused on the production aspect of the project while the construction team continues with construction.
The long-term value, I think we've positioned ourselves to continue to deliver value to you as Shareholders, and we really look forward to continuing to do what we say we do, and hopefully continue to deliver the value to yourselves as Shareholders. Thank you very much for your time.
Thank you, Gavin. I now open the floor for questions. First of all, do we have anyone who wants to start the bidding from the floor? Emma, do we have questions online? We do? Would anyone like to start? In that case, why don't we throw it to what's online, Emma?
We have a question from Steven Main online. "For those who weren't able to attend last year's AGM in person, what caused the two nearly 30% votes against Felicity Gooding and Bruce McFadzean? Were there recommendations against from proxy advisors, and what reasons did they give? What have we done over the past 12 months to address the concerns reflected in those two unusual director protest votes?
Yeah, thank you to Steven Main, who is a shareholder. Well, it certainly was unusual, and it was unusual for us. The circumstances were that proxy advisors, or some of the proxy advisors, identified aspects of our disclosure relating to audit fees that they weren't happy with. We attempted to engage, and it's a very difficult exercise once those recommendations have already gone to their institutional shareholders. All of the matters that concerned them, we dealt with, but the horse had already bolted, so to speak, last year. It was a good exercise in the end because it gave us the opportunity to engage with the remainder of the shareholder base, and for those institutional investors who had the discretion not to follow rigidly the recommendations from their proxy advisors, they voted overwhelmingly in favor of Felicity and Bruce.
The reason why Felicity and Bruce were singled out was simply because they were members of the board facing a re-election resolution who happened to be on the audit committee. Because the proxy advisors took exception to that disclosure, the consequence was that they had to direct voting against anyone on the audit committee. With two directors up for re-election, that obviously had a big impact on our meeting. In terms of what we've done to address it, we're now much wiser about that disclosure. We have engaged more proactively and earlier with proxy advisors, and you can certainly see that in the overwhelming + 98% or + 99% proxy votes that have come through on all resolutions this year. It's been a good learning experience for us.
We're a company that not very long ago was a sub-AUD 100 million company. The experience of having an institutional register and dealing with some of the unexpected outcomes that come with that, including proxy advisors, it's not something that we needed to worry about only a few years ago. That is one of the consequences of growing as quickly as we have in the last few years. What we've also done is proactively put the audit out to tender. Ernst & Young have been our auditors for many years. Following the best practices, both governance and audit practices, we put that out to tender. Very pleased to say that we were highly convinced that continuing with Ernst & Young was the best outcome. Thank you, Gemma, and your colleagues for the excellent work that you're doing for us.
I think we can move on to the next question here.
The next question also from Steven Main. "Thank you firstly for offering the ability for Shareholders to ask live questions online this year.
Much better for Shareholders who don't live in Perth.
Will you continue to do this in the future for AGMs, and will a copy of today's AGM and webcast be made available for those Shareholders who weren't able to tune in live?
Yes, we will continue to do that. This, by the way, for everyone in the room, the format online is pretty much identical to the quarterly webinars that we run after the release of every quarterly report. If you aren't familiar with it, we put out a notice on the ASX saying that on X date, we will be releasing the quarterly report, then a few hours later, basically as Gavin wakes up early in Cape Town, he then takes a webinar with a strong cup of coffee. We follow exactly the same format with the presentation, then Emma Culver reading out the questions that have been asked. We find it's a format that really works. It enables Shareholders who are more remote to participate.
Because we're very familiar with the system and we've become quite experienced now in both us and our participating Shareholders in how it all works, we find that that's the best way of allowing remote Shareholders to participate in the interesting event that you're all here today with. In terms of a recording for the AGM webinar, no, we don't intend to make that available.
The final question online from Steven Main, "Why don't we move towards independent chair governance model?
I think that's just a function of the company's more recent past and recent history. As everyone would have gathered, I'm the Executive Chair of the company. I sit somewhere between a full-time Executive Chair and a Non-Executive Chair. Contractually, my commitment is a 0.6 full-time equivalent to the company. I don't have any other professional obligations and no other directorships. What I think I can say on behalf of the board is what we've found is it works very well for myself and for the company. Typically, what happens is that my involvement, whilst it targets over time a 0.6 full-time equivalent load, the reality is it really pinches and swells. It's enabled me to work with the team, the management team, as necessary on a seven-day basis when it's been required.
For example, negotiating the financing joint venture with CNNC and matters relating to closure and so on. That flexibility, I think, certainly from my perspective, I'm happy with the arrangement, and I think from the company's perspective, that flexibility is an advantage. The reason that I'm Executive Chair rather than seeking an independent Non-Executive Chair, it relates, I think, more to do with feedback from investors who, following the transition where I handed over the CEO role to Gavin Chamberlain, investors sought that I continued to play a greater role in the company, particularly with the investor relations and other aspects of the role that are much more in my wheelhouse.
From a shareholder point of view, it very much enables us as a company to have the best of both worlds, where Gavin can be based in Africa, where there are daily flights to the project, where his network is in the same country that our EPC and contractors have an entire floor of engineers that Gavin can breathe down their necks when he needs to and keep them in check. It means that we've got far superior oversight of the most important activity going on in the company, which is the construction of Etango, with Gavin in situ in Africa, and I can remain close to our key capital markets on the ASX and close to our Australian stakeholders and board. It is something that we continue to review.
Like any company that follows best practice governance, we do a board review regularly, and we're in the process of doing one right now. There is a section in that board review that goes directly to the question that's been asked, should we be reconsidering the structure of the Executive Chair? I'll be very open to the results of what the feeling is on that. The one final thing that I would say is, feedback that's directed to me myself is entirely in line with encouragement to continue with this current structure. Yes, we recognize that it isn't the very best principles when it comes to corporate governance, but we feel that the company is undertaking a significantly challenged growth phase at the moment, and the board certainly feels that it's the best outcome for Shareholders at the moment.
Would any directors like to add anything to that?
Yeah, just briefly, Brandon, just to say, obviously, my role as lead independent director supports the structure with Brandon in the role as executive chair. We are also a board of majority independent directors, and all of our committees are chaired by our independent directors. So, from a governance perspective, we have a number of measures in place.
If you want to put it really simply, my kids know Alison as my boss. Are there any more questions online? Okay. Are there any questions from the floor? You have obviously done a great job, Gavin, because no one has got anything else to ask. Well, please stick around. There will be tea and bickies that Joan Kurica, our amazing office manager, has arranged for everybody.
So, if you have got some time to stick around and have an informal chat, please do so. I now declare, whilst the meeting is closed, I think we can now close off the informal aspects. Thank you to everyone who joined online. We really value Shareholders who put in the time and the engagement. If you are not already connected with us directly, please email shareholders@bmnenergy.com, and Emma Culver will get back to you and ensure that you are on our shareholder-only email distribution lists.
For anyone in the room who is a Shareholder who is not already receiving the excellent information that we distribute via our Sharing with Holders email database, please make sure that Emma has got your details as well. Thank you.