Good morning, everyone, and welcome to the Nuix 2023 Annual General Meeting. My name is Rob Mactier, and I'm Nuix's Chairman. I begin today by acknowledging the Gadigal people of the Eora Nation, the traditional custodians of the land on which we meet today, and pay my respects to their elders, past and present. I extend that respect to Aboriginal and Torres Strait Islander peoples here today. It is now 10:00 A.M., the appointed time for the holding of the meeting, and I am advised that the necessary quorum is present. I therefore declare the annual general meeting open. Before we proceed with the meeting, I have a couple of quick housekeeping points. I would appreciate if all mobile phones could be turned to silent, and recording devices and cameras must not be used during the meeting. In the event of an emergency, exits.
Please follow the emergency exit signs and the instructions of the venue staff. Today, I'm joined by my fellow directors and from your left to right, Alan Cameron, AO, our Deputy Chair, Jeff Bleich, Nuix's Group CEO, Jonathan Rubinsztein, Nuix's General Counsel and Company Secretary, Ilona Meyer, Jacqui Korhonen, Sir Iain Lobban, and Sara Watts. In addition, joining us in the audience today are several members of Nuix's leadership team, including Nuix's COO and CFO, Mr. Chad Barton, as well as Mr. Trent Duvall. Fancy guy in the tie, he's representing our auditor, KPMG. The prepared AGM commentary and presentation for the meeting have been released to the ASX. Nuix is committed to innovation, and accordingly, we are pleased to facilitate this hybrid meeting technology through the Link online platform.
This enables shareholders to participate in the meeting, irrespective of where they are in the world, and I warmly welcome those of you participating online. The agenda for today's meeting is as follows: firstly, I will present my formal address, and following that, Jonathan Rubinsztein, Nuix's Group CEO, will present his review of Nuix's activities for FY 2023 and some brief update commentary. We will then proceed with the formal business of the meeting. Following the conclusion of the meeting, I invite those shareholders here today to join me and my fellow directors for light refreshments. Welcome to Nuix's Annual General Meeting for 2023. I'm Robert Mactier, and it is my privilege to serve as the Non-Executive Chairman of Nuix.
On behalf of the board, management, and people of Nuix, we thank you for joining us today in person and online, and for your investment and interest in Nuix. For more than two decades, Nuix has been changing and adapting to a rapidly evolving landscape. From its beginnings in the early 2000s, Nuix has emerged as the global leader in making structured and unstructured datasets searchable. Today, Nuix is an Australian-headquartered technology company with a global footprint. Nuix had annualized contract value, ACV, in June 2023 of AUD 185.5 million, with approximately 85% being derived from jurisdictions outside of Australia. Over time, Nuix has built up an extraordinarily loyal and diversified customer base, with almost 40% of customers by ACV having a tenure of more than 10 years.
In short, Nuix sells its proven software to leading corporates, regulators, law enforcement agencies, legal and consulting firms around the world. Nuix is a genuine Australian global success story. Nuix has achieved this positioning through a long-standing commitment to technological innovation, a dedication to customer partnership, and ongoing investment in our talented team. Shortly, your CEO, Jonathan, will review the FY 2023 financial results, which showed significant momentum in ACV, statutory revenue, and EBITDA. Net dollar retention, or NDR, an important indicator of how much we are selling to existing customers, rose significantly while customer churn remained stable. The green shoots that we alluded to at last year's AGM have indeed shown further growth. But we know that we still have to deliver further and consistent growth. Jonathan will also provide an overview of some exciting progress around our product platform.
The continued research and development investment the company has made means that Nuix's unified platform, Nuix Neo, is now ready for release, providing a fundamental shift in the value offered to our customers. The rollout of specific use cases, which has now commenced with the data privacy solution, was made possible by the investment in research and development we made during FY 2023. In a year of many highlights, one that stands out for me was the series of Accelerate customer events in March and April. Held in Sydney, London, and Washington, D.C., these events gave Nuix an opportunity to reconnect with customers and other important industry participants post-pandemic. The Accelerate events were a great opportunity to showcase our development projects and capability and have generated significant interest and excitement in our technology. I'd like to take a moment now to give an update on some ongoing legal matters.
In September 2022, Nuix notified shareholders that ASIC had commenced civil proceedings in the Federal Court against Nuix and its then directors during the period from January to April 2021. ASIC alleges that aspects of the company's market disclosure in that period contravened provisions of the Corporations Act and ASIC Act, and that the relevant directors breached their duties in respect of that disclosure. I want to highlight again today in this forum, that Nuix denies the allegations made against it and the allegations made against the director respondents. We have fully cooperated with ASIC during the course of its investigation, and the case is scheduled to be heard next month. At this point, there is nothing further I can add on this particular matter.
And similarly, there is no further update in relation to the class actions that were commenced in November 2021 and consolidated in August last year. Separately, in August of this year, Nuix achieved resolution of the proceedings brought by a former CEO, Mr. Eddie Sheehy. The original judgment for the matter was delivered in February, with Nuix successfully defending the proceedings. In March, Mr. Sheehy lodged a notice of appeal in respect to certain aspects of that decision, and in August, the proceedings were resolved with Mr. Sheehy on the basis that his appeal be dismissed, Mr. Sheehy's share options in Nuix be canceled, and that Mr. Sheehy would make a contribution towards Nuix's legal costs associated with the proceedings. This matter is now closed.
In line with Nuix's vision of being a force for good by finding truth in the digital world, it is important that Nuix continues to evolve as an organization that grows in a responsible and a sustainable way. This responsibility, which we take very seriously, extends to areas including our environmental footprint, our governance and risk management, our information security obligations, and the well-being of our very talented people. You can find more details of these initiatives in our annual report. As part of Nuix's transition to the next chapter of its board and management team, Dan Phillips, a Macquarie Group nominee, and welcome, Dan, stepped down from the Nuix board in August 2022, further facilitating the build-out of an independent board. In January of this year, we welcomed Alan Cameron and Sara Watts to the board.
Both Alan and Sara are up for election today, and I will have more to say about them shortly when their individual resolutions are addressed. Their appointments are important steps in continuing to strengthen the diversity of skills and experience across the Nuix board. At last year's annual general meeting, Jeff Bleich announced that he would rotate out of the Chairman role while continuing to serve on the board as deputy chairman and a Non-Executive Director. I thank Jeff for his unstinting devotion to the leadership of the Nuix board during the period since IPO, and also for his continuing and valued contribution as deputy chair. Jeff's credentials, perspective and on-ground presence in our largest market, the USA, are of great benefit to Nuix. In February 2023, I was elected chairman of the Nuix board by my fellow directors.
When I joined the board in October 2021, I'm on record as saying that I had a belief that underneath all the noise, Nuix was indeed an exciting, world-leading technology company with an amazing customer set and a very talented band of Nuix team members that would deliver value for our shareholders. My conviction in the potential of Nuix is undiminished, and as I've had a chance to settle into the chair role, it's been a privilege to become more involved with a range of Nuix's stakeholder groups, including investors and our talented people. And I look forward to playing an active role as Nuix continues on its current trajectory to deliver continuing growth for all our stakeholders. And lastly, I would like to acknowledge the contribution of Sue Thomas, who has retired by rotation and is not standing for re-election today.
Sue joined Nuix as a Non-Executive Director in November 2020. We are appreciative of Sue's service to Nuix, particularly as past chair of the Audit and Risk Committee, a member of the Remuneration and Nomination Committee, and a member of the Independent Board Subcommittee. She devoted countless hours to these duties and brought a wealth of valuable experience to the board, and we wish Sue well in her future endeavors. The ability to deliver for our customers is underpinned by our highly talented team. During the year, every employee was invited to put forward ideas on how to refresh Nuix's values and culture, culminating in the development of our new values called Our Truth. This focus on cultural growth is ongoing and already has significant momentum within the company.
On behalf of the board, I wanted to extend my thanks to our senior leadership team and all the Nuix team members for their hard work and resilience this year. The hard work of the Nuix team has been reflected in the momentum in our financial results and the product development progress. To our people, I say thank you for your focus on delivery and your commitment to the great Australian technology story that is Nuix. I also extend my thanks to our loyal customer base and shareholders for your continued support, as well as my fellow board members. Our commitment to Nuix's strategic vision and the success of our company is unwavering, and we look forward to continuing the momentum and delivering results for our stakeholders.
In closing, there is a huge sense of personal motivation and pride that I feel, and that your entire board feels, in the incredible work that our people and our technology make for an amazing array of very satisfied global customers. That word, global, is important. This is an Australian company listed on our stock exchange and making its mark around the world. Let's celebrate that. I'd now like to invite Jonathan to address the meeting.
Thank you, Rob, and good morning, everyone. Today, I'm going to provide a recap of our transformation strategy, some comments on the cultural transformation underway, and how we delivered against our objectives during FY 2023, and a brief update on how we're tracking to our FY 2024 objectives. FY 2023 was a year of change and growth. Important advancements were made on the Three Horizon strategy that we previously articulated for the business, and I'm pleased to say this resulted in momentum in key financial metrics. In fact, I'm thrilled with the results that we have delivered this year. We've started transforming our culture, we've released Nuix Neo, and our results show the value of the changes that we've invested in for our customers, such as account management processes and progressive simplification and modernization of our commercial offers.
What's more, as Rob mentioned, the closeout of the ex-CEO court case in Nuix's favor rounds out our FY 2023 position. The momentum that we achieved in key financial metrics during FY 2023 was no accident. It resulted from the progress we are making on our transformation agenda following our strategy refresh. These transformation activities, designed around a greater focus on customer centricity, have been instrumental in driving growth. As a quick reminder, Horizon One was the near-term focus, providing momentum to restart growth and to provide a solid foundation for our medium and long-term growth strategies. By the end of financial year, we had achieved our near-term goals in relation to a broad range of Horizon One initiatives. We made a strategic decision to focus heavily on our existing customer base over the course of the year, resulting in significant improvements in financial metrics like ACV and NDR.
We are a software company, and driving transformation relies on, above all, our people. I mentioned cultural change, and I also wanted to take this moment to provide an update on our progress. At the beginning of FY 2023, we revisited the idea of what kind of organization we wanted Nuix to be. This is a major focus of mine, and we've taken enormous strides towards this, this year, which we will continue into FY 2024. I'm thrilled that we now have Jacqui Levings on board as Head of People and Culture to drive this cultural change forward. I continue to acknowledge the amazing people we have in this business. We have a huge depth of talent, and I'm really pleased to say, a great leadership team, which is now in place.
Recent dialogue across the business culminated in the development of our corporate values, which collectively became our truth. These values have helped to define and shape us over the course of the year and have become an important part of the Nuix identity. These values are now embedded into all our people practices. Feedback and dialogue across our business is critical in strengthening our corporate culture. As part of driving change in FY 2023, we looked at ways to improve two-way communication, resulting in new communication channels, engagement surveys, and staff forums. The ongoing feedback we receive through these initiatives is incredibly valuable in helping to mold our organization, and I'm excited about the initiatives proposed by People and Culture team for FY 2024 and beyond. The strategic and cultural changes I've mentioned drove momentum in our core financial metrics over FY 2023.
Annualized contract value, ACV, at 30 June 2023 was $185.5 million, up 14.5% on the same time a year earlier, and up 10.8% in constant currency. ACV growth was underpinned by stronger net upsell to existing customers, along with the lift in ACV from new customers. All three operating regions, namely North America, EMEA, and Asia Pacific, recorded double-digit ACV growth. Statutory revenue rose to $182.5 million, up 19.8% on the prior year, or 15.8% in constant currency. It is worth noting that this strong uplift in revenue occurred despite the moderation of multi-year deals from 40% in the prior year to 30% this year.
Net dollar retention, or NDR, rose significantly during the year to 109.2%. NDR is an important metric because it provides an indicator of how much we're selling and working with our existing customer base. Importantly, this NDR outcome was achieved while churn remained stable at 5.3% for the full year. In short, our customers remained loyal and committed to the Nuix offering. During the year, we maintained our commitment to research and development, with total investment up slightly on the prior year to AUD 60 million. This level of investment during the year facilitated the development and launch of our new Nuix Neo platform and related solutions in recent months. EBITDA rose by 189.2% to AUD 34.9 million on both revenue growth and general cost containment.
In terms of free cash flow, we articulated an aim to be underlying cash flow neutral for the year. That is, cash flow neutral, excluding costs associated with the Topos acquisition and non-operational legal costs. Given the particular strength we saw come through in the second half, we were able to exceed this target with a positive underlying free cash flow of AUD 9.1 million, compared to a negative AUD 2.5 million in the prior year. Future growth not only comes through better business practices, but will be underpinned by our key Horizon Two and Three plans, specifically the build-out of our unified platform, that is Nuix Neo, and the incorporation of high-value, repeatable use cases. At the full year results, I spent some time outlining the transformational potential of Nuix Neo for our customers.
Nuix Neo is an AI-enriched single platform that helps our customers identify, process, and understand complex data faster, easier, and smarter. Nuix Neo resets our commercial relationships by putting our world-leading data processing capability at the heart of an integrated solution SaaS-based platform. Using a browser-based collaborative interface, Nuix Neo represents a step change in user experience, incorporating end-to-end automation, investigative analytics, and AI-enabled workflows. The consumption-based subscription model better links our platform to customer value and allows for scalability with deployment on-premise or in a customer cloud. Nuix Neo now becomes a foundation for specific use case solutions, the third horizon objective, where we previously articulated. The first Nuix Neo use case solution, Data Privacy, was launched in July 2023 to early adopters. This will be followed later this financial year with investigations and legal processing solutions, all underpinned by Nuix Neo, the AI-enriched capabilities.
The Nuix Neo platform and associated use case solutions, like data privacy, will underpin growth into the medium term as we roll out the offering, adding significant value for existing customers and opening up new customer opportunities. During FY 2024, we have been clear that we'll be partnering with a select number of early adopters while we test, get feedback, and fully optimize our customer offering. We are deliberately taking our time with this step, with what I like to call a white glove service for this early adopter group. In this way, we can make sure that we use the feedback to further tune Nuix Neo to customer use cases and deployment scenarios, realizing its full potential for our customers. It's important to highlight that our offering for our broader customer base outside the early adopter group continues to evolve.
As current customers renew, we are discussing a Nuix Neo pathway with them that helps extend the value that they get from their current Nuix software as an initial step in their migration to a Nuix Neo solution. This initial phase might include added innovation capabilities such as Nuix Rampiva automation and specific connectors, as well as our advantage offering for customer support and services. In this way, our customers are on an iterative and innovative path towards a full Nuix Neo transition, benefiting from early increased productivity and updated commercial packages. This added capability and functionality for our existing customer base also helps to drive value creation for our customers in FY 2024, underpinning momentum in our financial metrics for this year.
At the full year result in August, we articulated some strategic targets for the current financial year, namely, targeting around 10% ACV and statutory revenue growth in constant currency, successful rollout of Nuix Neo and associated solutions to early adopters, broadening sales focus to further drive new business and revenue growth to exceed operating cost growth, and finally, underlying cash flow positive for the full year. We've had a positive start to FY 2024 and are pleased with our progress to date. We continue to execute on our strategy, and I can confirm today that we are on track to deliver on all of these strategic targets for the full year. I'm very proud of what the Nuix team achieved during the year. A significant transformation is underway at Nuix in terms of our customer offering and our business approach.
Our people have risen to the challenge, delivering very significant projects, while at the same time driving a material change in our financial results. The results that were delivered during FY 2023, along with the significant business practice and R&D initiatives, are a wonderful testament to the dedication of Team Nuix. I thank the Nuix team for your enormous contribution over the year, and look forward to continuing on the journey together. I also take this opportunity to thank the Nuix's board, our customers, partners, and shareholders. We value our relationships with you and look forward to growing and evolving our partnership. Thank you.
Okay, we now come to the formal part of the meeting. The notice of meeting, dated 15 September 2023, has been circulated to shareholders, and I will take the notice as being read. Before moving to the various items and resolutions to be considered today, I will now briefly outline the procedures for the meeting. In accordance with the company's constitution, and as set out in the notice of meeting, we have determined that voting on each of the resolutions will be conducted by a poll. We adopted these procedures to ensure that the views of as many shareholders as possible are represented at the meeting, and I now declare the poll open. The results of the polls will be declared today and released to the ASX later today. Only shareholders, proxy holders, or appointed representatives are entitled to speak or vote at this meeting.
Only shareholders who are entitled to vote at this meeting may cast a direct vote on a resolution. As chair of the meeting and as detailed in the notice of meeting, I will vote, where authorized, all undirected proxies in favor of each resolution. For those attending the meeting in person, you can cast your vote by filling out a paper voting card. If you have any questions, please see a Link Market Services team member at the registration desk. For those shareholders participating in the meeting via the online platform, you can cast your direct vote using the electronic voting card that you received when you validated your registration. If you have any questions about casting your vote online, please refer to the online platform guide or call the number set out in the guide or on the screen in front of you.
Aaron Calder of Link Market Services is the Returning Officer for this meeting. During the meeting, we will display on the presentation slides the number of direct and proxy votes received prior to the meeting on each resolution, and the final results will be released to the ASX as soon as they are available. If we experience any technical issues today, a short recess or an adjournment may be required, depending on the number of shareholders being affected. If this occurs, I will advise you accordingly. If you are attending the meeting in person, you would have been given an attendance card when you registered on arrival. If you have a yellow voting card, you are a voting shareholder, proxy holder, or corporate representative and have chosen to vote using a paper voting card, you're also entitled to speak at this meeting.
If you have a blue card, you are a non-voting shareholder, and while you're entitled to ask questions and make comments, you are not entitled to vote. If you have a red card, you are a visitor and are not entitled to speak or vote at the meeting. If anyone with a yellow or blue card wishes to speak, please raise your hand at the appropriate time and a microphone will be brought to you to ask your question. Please show your card when receiving the microphone, and please state your name before asking your question. For those who are participating via our online platform, you will be able to submit questions by registering as a shareholder or proxy holder and selecting the Ask a Question tab.
I will consider the questions submitted online after I've taken questions from the floor, and we may aggregate questions if we receive multiple questions on the same topic. Out of fairness to everyone present, I ask that you limit your questions to one at a time and also restrict your questions and comments to the resolution being considered. I reserve the right as Chair to rule questions not pertaining to the AGM to be out of order. Item 1 relates to the financial statements and reports. The 2023 annual report contains the financial report, directors' report, and the independent auditor's report. A copy of the annual report is available on the Nuix investor website and was also sent to those shareholders who requested it. The financial statements have been audited and approved by the directors. I will take the reports as received and read.
At this time, I'd like to invite shareholders to ask questions or make comments about the management of the company or any other general matters, and ask the auditor questions relevant to the conduct of the audit and the preparation and content of the auditor's report. Please keep questions about specific resolutions until the time we consider the resolution. Prior to today's meeting, we received a small number of questions and comments relating to Nuix's share price performance and the responsibilities and performance of the board. I'll respond to those questions now. While we have acknowledged in the past a disappointing share price performance since the IPO, it is worth noting that over the course of FY 2023, the Nuix share price rose about 12%, and this calendar year, the share price has risen well over 100%.
As outlined by myself and Jonathan, this improved share price performance has been driven by a combination of factors, including execution on strategy, improved financial metrics, and the resolution in our favor of the former CEO litigation. I've outlined the board evolution and renewal that has taken place over the last financial year, including the addition of talented directors like Sara Watts and Alan Cameron. It is our view that the collective skill set of the renewed board will complement our renewed senior leadership team in continuing to restore value for your shareholders. And your board is very committed to this objective. Are there any other general questions? Great. Are there any online questions?
There are no online questions.
If there are no further questions, we'll move to the next item, which is item two and resolution one, the company's remuneration report.
The remuneration report is contained within the 2023 annual report, which is available on the Nuix investor website. Noting my earlier comments, I will take the remuneration report as read. Further details about this resolution are also contained in the explanatory statement that accompanied the notice of meeting. This vote is advisory only and is not binding on the directors or the company. Noting that each of the directors has a personal interest in their own remuneration from the company, the board unanimously recommends that shareholders vote in favor of adopting the remuneration report. Do we have any questions? Any online questions?
There are no online questions.
As there are no further questions, proxy votes for this resolution are shown on the screen. If you've not already submitted your vote for the resolution, please submit your vote now. Note that the proxies are overwhelmingly in favor.
We'll now move to item three, which concerns the election of directors, and resolution two relates to the election of Sara Watts as a director. Sara's background and experience is detailed in the notice of meeting, but it is my pleasure to be endorsing Sara for election to the board today. Sara brings to Nuix genuine value, not only through her extensive Non-Executive Director, governance, and audit roles, but importantly, her very successful executive finance background, including notably with IBM. Sara has taken over the role of Chair of the Audit Committee and has brought great practical perspective to that role, as well as her respected contribution to the wider board. Before asking for any questions on Sara's election, I'd like to ask Sara if she'd like to talk to shareholders.
Thank you, Rob. Good morning, everybody. I've actually been a company director since 2008, when I combined company directorships with my executive roles, and I've been a full-time company director for about the last five years, building a portfolio over that time. When I was approached by the Nuix board to gauge my interest, I thought two things, and to be honest, the first thing was, "Yikes!" And then the second thing I thought was, "Actually, what an opportunity." So why Nuix and why now? Fundamentally, our business model, the product, and the strategy are all sound. It's an Australian company making a real and measurable difference in the world, and it's a company that Australians should be proud of. We contribute to making the world a better, safer, and more accountable place. Additionally, if not now, then when?
All my career, I've been attracted to roles where the key requirement is to improve the current status quo and where I can contribute while I'm learning. Nuix is one of those opportunities, and I look forward to contributing to the success of your company. Thank you.
We carry that by acclamation. Thank you, Sara. And the directors, with Sara abstaining, unanimously recommend that shareholders vote in favor, favor of the resolution. Do we have any questions? Any online questions?
There are no online questions.
As there are no further questions, proxy votes are now shown on the screen and unsurprisingly, overwhelmingly in favor of Sara. Congratulations. Which brings me to resolution three, the election of Alan Cameron, AO. Alan's background is, and experience is detailed in the notice of meeting, and I'm delighted that Alan is before you for election today. He brings to the board a wealth of experience and diversity of thought, not only through his very storied legal career, but also through his various Non-Executive Director roles, and importantly, for our business, a distinguished career in the regulatory sphere, including as a past chairman of ASIC.
His insights and perspective through these roles are invaluable to Nuix. Before I take questions, I would like to ask Alan if he would like to address shareholders.
Thank you, Rob, and good morning, everyone. Well, perhaps I am best known as a former regulator. I have indeed spent many years as a company director. I've served on listed and unlisted public companies, large and small companies, and companies with complex structures. The most prominent recent example is Property Exchange Australia Limited, known as PEXA, of which I was chair from its formation for 11 years, stepping down as its float approached because I thought I had served too long to be seen as truly independent. I believe I have been making already and can continue to make a contribution to Nuix. And then why Nuix? Well, I've been aware of Nuix for many years.
PEXA and Nuix both had Macquarie as a major shareholder in the last decade, and we had directors, including Dan Phillips, whom I'm delighted to see here today, in common for much of that time. The invitation to consider a role here was well-timed in terms of my availability, having just stepped down from my law reform role, and I even held, and still do hold, shares in the company. So I think Nuix is basically a good company doing good things. So I'm honored and delighted to stand before you today as a candidate for election to the board of this genuine Australian global success story, as Rob correctly said.
As you can tell, Alan holds us to some precision in what we say. Thank you, Alan. The directors with Alan Cameron abstaining, unanimously recommend that shareholders vote in favor of this resolution. Are there any questions? Any online questions?
There are no online questions.
As there are no further questions, the proxy votes for this resolution are shown on the screen, and again, unsurprisingly, overwhelmingly in favor. Congratulations, Alan. Item four and resolution four concern the approval of the issue of equity securities under the Nuix Employee Incentive Plan. The directors, with Jonathan Rubinsztein abstaining, unanimously recommend that shareholders vote in favor of this resolution. Do we have any questions? Any online questions, Brett?
There are no online questions.
As there are no further questions, the proxy votes for this resolution are shown on the screen and pleasingly are overwhelmingly in favor again.
If you've not already submitted your votes, please vote now. Item 5 and resolution 5 concern the approval of the issue of performance rights under the Nuix Retention and Incentive Equity Plan. The directors, with Jonathan Rubinsztein abstaining, unanimously recommend that shareholders vote in favor of this resolution. Do we have any questions on the resolution? Online?
There are no online questions.
As there are no further questions, proxy votes for this resolution are shown on screen, and again, very pleasingly, are overwhelmingly in favor. If you've not already submitted your votes for this resolution, please submit your votes now. Item six relates to the approval of the grant of performance rights to the CEO and Executive Director. Resolution six concerns the approval of FY 2023 STI performance rights to the CEO and Executive Director under the Nuix Incentive Plan.
The directors, with Jonathan Rubinsztein abstaining, unanimously recommend that shareholders vote in favor of this resolution. Do we have any questions? Any online questions?
No online questions.
As there are no further questions, the proxy votes for this resolution are now shown on screen, and again, pleasingly, overwhelmingly in favor of the resolution. If you haven't already submitted your votes, please do so now. Brings us to resolution seven, concerns the approval of FY24 LTI performance rights to the CEO and Executive Director under the Nuix Incentive Plan. The directors, with Jonathan Rubinsztein abstaining, unanimously recommend that shareholders vote in favor of this resolution. Are there any questions? Online?
No online questions.
As there are no further questions, proxy votes are now shown on screen, and again, very pleasingly, overwhelmingly in favor. If you haven't already submitted your votes for that resolution, please do so now.
That brings us to the final resolution for today, which is resolution 8, which concerns the approval of 1.28 million performance rights to the CEO and Executive Director under the Nuix Retention and Incentive Plan. The directors, with Jonathan Rubinsztein abstaining, unanimously recommend that shareholders vote in favor of the resolution. I'm sure if Jonathan was allowed to vote, he would vote in favor. Do we have any questions? Online?
There are no online questions.
And as there are no further questions, the proxy votes for that resolution are now shown on screen, and again, very pleasingly, overwhelmingly in favor. If you haven't already submitted your votes for that, please do so very quickly. We're about to close the poll. And thank you for your attendance and participation today. The poll will close in five minutes, so any stragglers.
For those of you who are here today, I'd invite you to join myself, my fellow directors, and the senior management team of Nuix for refreshments outside the room. To the shareholders and visitors participating online, I thank you also for joining us, and I now declare the meeting closed. Thank you.