I would now like to hand the conference over to Mr. Joe Rooney, Chairman. Please go ahead.
Thank you. Good morning, ladies and gentlemen. My name is Joe Rooney, and I'm very happy to welcome you as Chair to the 2022 annual general meeting of Oneview Healthcare PLC. In accordance with the company's constitution, I have been appointed by the directors to act as Chairman in respect of this AGM. Let me begin by introducing my fellow board members. With me in the boardroom is James Fitter, Chief Executive Officer and Executive Director, and Helena D'Arcy, Company Secretary. Joining us by telephone are Nashina Asaria, Independent Non-Executive Director, Dr. Lyle Berkowitz, Independent Non-Executive Director, and Michael Kaminski, Independent Non-Executive Director.
As laid out in the notice of the meeting, we have asked people not in a position to attend the physical AGM to instead avail of the established and existing proxy voting services in order for your vote to count and to take the opportunity to submit in advance any questions you would like addressed at this AGM, and to avail of the teleconferencing facility to listen to the business of the meeting. The time is now just after 7:00 A.M. in Dublin. Under Article 54 of the company's constitution, the quorum for this meeting is one person. As I have been appointed corporate representative of CHESS Depositary Nominees Limited, the company's sole statutory shareholder, I can confirm that the quorum has been validly constituted. The business is properly before the meeting, and the meeting may proceed to business.
Voting will then take place by our statutory shareholder through me as Chair of this meeting. In accordance with the wishes of our CUFS holders, as set out in duly completed, returned, and verified voting instruction forms in the manner outlined in the notice of meeting. The purpose of today's meeting is to consider the resolution set out in the notice of AGM sent to shareholders on the 18th of October 2022. First, I hand you over to James Fitter, who would like to spend a few minutes reviewing the progress made since the last AGM and give a business update. Following that update, I will move to shareholder questions and the formal business of the meeting. James.
Thanks, Joe. As all of you know, 2022 has been a very challenging year for the hospital sector as health systems continue to work their way through the multitude of challenges presented by the pandemic. Healthcare customers have a near-term cost and retention challenge, which has put pressure on short-term spending. However, we are confident as we emerge from this challenge, our value will continue to be seen as a technology which is fundamental to improving nurse efficiency, cost, and patient satisfaction. This was best evidenced by the 2,400 bed expansion program at BJC HealthCare announced in May of this year. This deal is emblematic of the way in which new hybrid models of care are creating fresh demand for Oneview's product. We expect that as operating budgets normalize, we will see conversion of our record sales pipeline of opportunities in both our key markets.
The company continues to enjoy significant demand for our cloud product from both existing and prospective customers with BJC, Kingman Regional Medical Center, Oklahoma University Health, all currently deploying the cloud product in North America. We're proud to maintain our 100% customer retention record in North America, and in recent weeks have begun fresh conversations around material expansion plans with existing customers who are actively seeking budget to expand their Oneview footprint in 2023. Due to the uncertain macroeconomic outlook and unexpected delays in sales conversion earlier in the year, we began a round of cost reduction initiatives in October that will lead to between 16% and 20% reduction in operating expenses for 2023.
We are today reaffirming our previously issued revenue guidance for the year of EUR 9 million-EUR 9.5 million, and remain optimistic that we will see further pipeline conversion in the coming months. Thanks, Joe.
Before we continue to the formal business of the meeting, I would like to draw your attention to a typographical error in the explanatory memorandum to our notice of meeting. Specifically, the note in respect of the background to resolutions six to eight. There, the aggregate number of securities which may be issued in reliance on exception thirteen without subsequently being refreshed in respect of the RSU plan contains a minor error and should be read as 50 million. Shareholders were invited to submit questions prior to the commencement of this meeting by post to the company secretary, together with evidence of their shareholding. As of 7:00 A.M. Dublin time on 15th of November, the final date for receipt of questions, no questions have been received. I will now pause to take any questions from shareholders present with us today on the resolutions before the meeting.
I would remind all shareholders that the purpose of today's meeting is specifically to consider the business of the resolutions contained in the notice, and therefore, questions are limited to these matters. If there are any detailed supplementary questions, please direct them in writing to the Company Secretary at the company's registered office as per the investor relations section of the company's website, or by email to cosec@oneviewhealthcare.com. Please address your question to me, and if I cannot answer it, I will direct it as appropriate to one of my colleagues. Are there any questions from shareholders on the resolutions before the meeting today at this time?
Chair, there are no telephone questions.
If there are no questions, I will now move to the formal business of the meeting. I will take the notice of meeting issued to members on the 18th of October 2022, including the details of each of the resolutions as read. There are 17 resolutions to be considered at this AGM, full details of which are set out in the notice of the meeting. These resolutions shall be voted upon by those shareholders present today in person or by proxy. In accordance with Article 61 of the company's constitution, as Chairman, I hereby demand voting by poll. Of the 17 resolutions being voted upon today, 15 are ordinary resolutions, which, in order to be passed, must be approved by a majority of 50% plus one vote of those voting. These ordinary resolutions are identified in the notice of meeting.
The other two resolutions are special resolutions which, in order to be passed, must be approved by a majority of not less than three-quarters of those voting. These special resolutions are identified in the notice of meeting. Every ordinary shareholder or CUFS holder present as a nominated proxy of CDN shall have one vote for every ordinary share or CUFS of which he or she is the holder. I now demand that each of the resolutions listed in the notice of the meeting is put to the meeting by way of a poll. As Chairman of the meeting, I have been appointed as proxy in respect of 276,580,925 shares, representing 52% of the issued capital. No other proxies have been appointed, and there are no other shareholders entitled to vote.
The proxy vote instructions delivered have been verified by the Registrar's Computershare by reference to the register of members, the CUFS register, and a list of authenticated voting instruction forms received by the Company. I now cast the votes in respect of these 276,580,925 shares in accordance with the proxy vote instructions. No further votes are to be cast, and I declare the poll closed. I confirm that all of the resolutions before the meeting have been passed by in excess of 98% of the votes cast. The full result of the poll, including the total of the votes cast for and against the resolutions and the abstentions, will be published immediately through the ASX and on the Company website tomorrow.
That concludes the business of the meeting, and I would like to thank you all for your attendance today.