Ladies and gentlemen, my name is Gareth Turner, and I am standing in for our Chair, Peter O'Connell, who unfortunately is unwell and has lost his voice. On behalf of Superloop, I'd like to welcome shareholders who have made time to join this extraordinary general meeting. I'd like to acknowledge the traditional custodians of the land on which we meet today, the Gadigal people of the Eora Nation. We pay our respects to their elders, past, present, and emerging. I'm looking forward to engaging with you during the course of today's meeting. It is now 2:00 P.M., Sydney time, the nominated time for this extraordinary general meeting. I've been advised by our company secretary that a quorum is present, and so I am pleased to declare this general meeting open. I'd like to introduce the members of Superloop's board of directors.
Joining me here in Sydney is Paul Tyler, Managing Director and Chief Executive Officer. Joining us via phone are the rest of our non-executive directors, being Drew Kelton, Vivian Stewart, Tony Clark, and Helen Livesey. Also joining us today are members of the management team, including our CFO, Dean Tognella, and Tina Ooi, our Company Secretary. The primary purpose of today's meeting is to ratify the previous issue of shares and options to Origin Energy, which was conducted within the company's placement capacity. The shares and options form part of the six-year contract with Origin Energy that was announced on 13 March 2024. As shareholders will recall, this contract appoints Superloop as the exclusive provider of wholesale internet services to Origin Energy's substantial and growing broadband subscriber base, and will make an important contribution to Superloop's earnings in FY 2025 and later years.
Before we move to the formal parts of the meeting, there are a few housekeeping matters I need to address. As set out in the Notice of Meeting, there are two resolutions to be considered today. The resolutions have been outlined and explained in the Explanatory Memorandum that was issued, sorry, that was included in the Notice of Meeting . Shareholders' questions which are submitted online or over the phone, which are relevant to these resolutions, will be addressed at the appropriate time. These questions will be directed to myself as acting chair of the meeting, and I will invite other directors and/or relevant persons to respond as appropriate. I will advise the number of proxy votes received on each resolution before moving to the next item of business.
Any questions that come through relating to the general business of the company will be noted and addressed after the formal proceedings have been dealt with and the meeting is closed. Ladies and gentlemen, may I remind you that only shareholders, their appointed proxies, or corporate representatives of shareholders are entitled to make comments, ask questions, or vote. And are encouraged to submit their questions as soon as possible if they have one. If you need any guidance, the online guide is available at the bottom right of your screen. Shareholders may also ask their questions orally after obtaining a unique PIN by calling 1800- 990- 363 prior to the meeting. If you have your unique PIN and would like to ask a question through the phone facilities, please refer to the last page of the online guide for next steps.
We will address shareholders' questions from the phone and then questions received through the virtual meeting platform. The proxy votes received are reflected in our presentation slides today and will be displayed on screen at the appropriate time. All resolutions we put to the meeting today will be determined by a poll. As disclosed in the Notice of Meeting , all undirected proxies given to the chair of the meeting will be voted in favor of each resolution. If you need further assistance, please refer to the instructions that are on screen and in the online guide available on the virtual meeting platform. All of the resolutions are to be considered as ordinary resolutions, and as such, must be approved by a simple majority of votes cast by shareholders entitled to vote and voting on that resolution. Shareholders can submit their votes online until five minutes after the voting closes.
Once the voting is closed, our share registry will tabulate the results, which will be released to the ASX as soon as possible today. The Notice of Meeting and Explanatory Memorandum has been released to the ASX and was published on our website on 13 May 2024. It sets out the details of each resolution being considered at today's meeting. If there are no objections, I will take the Notice of Meeting as read. We will now proceed to Resolution 1: Ratification of previous grants of Superloop options.
Resolution 1 seeks approval that for the purposes of ASX Listing Rule 7.4, and for all other purposes, shareholders ratify the previous grant of 55,672,002 Superloop options to Origin Energy, each option with an exercise price equal to the prevailing VWAP of Superloop shares on the ASX on the trading day before exercise. Details of Resolution 1 are set out in the Notice of Meeting , which we have taken as read. The directors unanimously recommend this resolution be approved by shareholders and I now welcome questions with respect to this item of business. Are there any questions from shareholders joining online or on the phone for this item of business?
Chair, there are no phone questions for this item of business.
Thank you, operator.
Chair, there are no questions on the online platform.
... Thank you, Tina. As there are no further questions, I now formally move the motion that Resolution 1 be put to the meeting in the form set out in the Notice of Meeting . Proxy votes received in relation to this resolution are being shown on screen. Please mark your votes for this resolution now. We now proceed to Resolution 2: Ratification of the previous issue of Superloop shares. Resolution 2 seeks approval that, for the purposes of ASX Listing Rule 7.4, and for all other purposes, shareholders ratify the previous issue of 9,847,690 Superloop shares to Origin Energy. Details of Resolution 2 are set out in the Notice of Meeting , which we have taken as read.
The directors unanimously recommend this resolution be approved by shareholders, and I now welcome questions with respect to this item of business. Are there any questions from shareholders joining online or on the phone for this item of business?
Chair, there are no phone questions for this item of business.
Thank you, operator.
No further questions in the online platform.
Thank you, Tina. As there are no further questions, I now formally move the motion that Resolution 2 be put to the meeting in the form set out in the Notice of Meeting . Proxy votes received in relation to this resolution are being shown on the screen. Please mark your votes for this resolution now. We have now come to the end of the formal items of business. Please ensure that you have cast your votes for each resolution put to the meeting today by clicking the "Submit Vote" button at the bottom of your electronic voting card. You will have up until five minutes after the meeting closes to finalize your votes. The results of the polls will be announced to the ASX as soon as practicable after the meeting. This brings the formal proceedings to an end, and I now declare the meeting closed.
I would now like to take the time to address any general questions put to the board or Superloop's management team. Are there any questions from shareholders joining online or on the phone for this item of business?
Chair, there are no phone questions for this item of business.
Thank you, operator.
Chair, there are no questions from the online platform.
Thank you, Tina. As there are no further questions, on behalf of the board, I would like to thank you for your attendance and participation today. Thank you for your interest, and we look forward to your ongoing support. As advised earlier, the results of the voting will be released to the ASX and published on our website once the votes have been counted. Please have a great afternoon. Thank you.