Good afternoon, ladies and gentlemen. My name is Peter O'Connell. I am the Chair of Superloop. Unfortunately, I've contracted COVID and am isolating today, so I'm unable to attend in person. The Board has unanimously appointed Vivian Stewart, Non-Executive Director, as Chair of this Annual General Meeting. I will now hand over to Viv.
Thank you, Peter. Good afternoon, ladies and gentlemen. Thank you for joining us at our Annual 2024 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 well past 2:00 P.M. Sydney time, the nominated time for this AGM. I've been advised by our Company Secretary that our quorum is present, and so I am pleased to declare our 2024 AGM open. As this is a hybrid meeting, shareholders can participate either via the online platform or physically at our venue today.
With me in Sydney, I have Paul Tyler, Managing Director and Chief Executive Officer, Drew Kelton, Non-Executive Director, Tony Clark, Non-Executive Director, Helen Livesey, Non-Executive Director, Gareth Turner, Non-Executive Director, and Tina Ooi, our Company Secretary. Also joining us today are members of the Management Team, including CFO Dean Tognella. Tendai Mkwananzi , representing our auditor Deloitte, joins us online, while Pooja Patel, our new incoming audit partner, is here in person. We also have Derek Pocock and maybe Adrian, also Adrienne de Bruyn from Baker McKenzie, our external solicitors. Tendai is available to take questions on the conduct of the audit and the preparation and conduct of the Independent External Auditor's Report. This afternoon, I'll make some introductory remarks regarding our Company's performance in the 2024 financial year and then comment on more recent achievements.
I'll then hand over to our Managing Director and Chief Executive Officer, Paul Tyler, who will provide a more detailed review of Superloop's activities during FY 2024, as well as some commentary on the outlook for the Company. Following Paul's presentation, we will conduct the formal business of the meeting. FY 2024 has been an outstanding year for Superloop, and I am pleased to report strong growth continues across all segments: consumer, business, and wholesale. Following the successful completion of our three-in-three turnaround strategy last year, where we tripled revenue over three years, FY 2024 marked the commencement of our double-down strategy, aiming to double the size of the business by the end of FY 2026. The Company is set to accelerate growth in both revenue and profitability by maintaining cost leadership, gaining a deeper and broader market penetration, and portfolio richness.
Additionally, growth is expected to be supported by a prudent consideration of acquisitions that offer long-term strategic value to the business. Superloop has already delivered in its first year of the new strategy, with year-on-year growth across key metrics. Revenue increased by 30% to AUD 420 million. Underlying EBITDA grew by 45% to AUD 54 million, and we achieved record organic growth in new customers, finishing the 2024 financial year with over 455,000 customers. The Company reduced its net loss by 66% compared to the prior period, achieved positive cash flow, and is on track to achieve positive EBITDA for FY 2026. A dedication to operating ethically in everything we do continues to be fundamental to the way we do business. Superloop has halved the gender pay gap over the last two years. Our FY 2024 results show a gender pay gap of 9.9%, well below the telecommunications industry average.
We continue to work towards reducing our carbon footprint and have identified Superloop's Scope 1, 2, and 3 emissions. This provides us with a baseline from which to drive emissions-reducing initiatives. Additionally, we are making a meaningful impact through our charity partnerships, working to positively influence the communities where we operate. Our commitment to robust internal governance practices remains steadfast. Since our last AGM, we have entered the S&P/ASX 300 index as a result of increasing investor demand for our Company's securities, leading to share price appreciation of over two and a half times during the period, the 3rd highest gain in the entire All Ordinaries Index. Our entry into the S&P/ASX 300 index is a major milestone and a true reflection of Superloop's success in delivering value to shareholders, while also highlighting the Company's future growth potential.
In February 2024, Superloop received an indicative and non-binding proposal from one of our competitors, Aussie Broadband Limited, to acquire all of the shares in Superloop. The Board of Superloop considered the offer and believed that the offer was opportunistic and fundamentally undervalued Superloop. In FY 2025, Superloop will continue to focus on driving strong organic growth, increasing its market share in the segments we operate in, and maintaining cost leadership, as well as delivering value to our customers and shareholders. I would now like to make a couple of comments on the resolutions which we are putting to shareholders today. Our first resolution is the adoption of the remuneration report. You may recall that following feedback from our shareholders and an extensive review of the remuneration framework by Ernst & Young, our approach to remuneration went through an extensive refresh ahead of the 2023 AGM.
We have continued to further strengthen and refresh our approach to remuneration reporting, and as such, we ask that you support this resolution. Resolution 2 today relates to the re-election of our Board member, Mr. Tony Clark. Mr. Clark has a wealth of digital media industry knowledge and experience, having co-founded Rising Sun Pictures and Cinenet Systems , and has been the recipient of a number of prestigious awards within the industry. We are fortunate to benefit from his strong entrepreneurial expertise and ask that you support his resolution. Resolutions 3 to 5 relate to the issue of shares to Origin Energy, as per the agreement between Superloop and Origin Energy announced on the 13th of March, 2024. The Origin Energy agreement represents a significant step change for Superloop, adding over 130,000 customers which have already been successfully migrated.
We remain confident that the number of customers will continue to grow and deliver increasing revenue for Superloop. We ask that you support these resolutions. Resolution 6 proposes to increase the Non-Executive Director fee pool, providing the Board with headroom and flexibility to allow for fluctuations in the size of the Board, to align with ASX 300 expectations, and to allow for fee adjustments to maintain market competitiveness. This year, we are seeking two resolutions, Resolutions 7 and 8, that relate to the approval of a grant of performance rights to our Managing Director and Chief Executive Officer, Paul Tyler. Resolution 7 is aligned with Paul's long-term incentive and Resolution 8 to the double-down incentive.
The Board believes that it is in shareholders' interest to provide the MD and CEO with an equity-based long-term incentive to ensure there is alignment between shareholder outcomes and his reward and retention, and we ask that you support these resolutions. I'd like to thank my Board colleagues for their continued contribution and commitment. On behalf of the Board, I would also like to thank the incredible team at Superloop for their contribution to such a successful financial year 2024. Finally, I would like to thank you, our shareholders, for your feedback and support. I'll now hand over to Paul Tyler, MD and CEO, for a review of FY 2024 and FY 2025 business update before moving on to the formal business.
Thanks, Viv, Peter, and the rest of the Board. So let me kick off the review of FY 2024. So I'd like to say at the outset how proud I am of the Group's achievements in financial year 2024 and the operational success we've had throughout the year, as well as the financial performance we've been able to deliver on the back of this for our shareholders. The strong Company performance is a testament to the strength of our operating model, our brand, and the entire Superloop team. Pleasingly, we've been able to deliver strong momentum in each of our operating segments, with many highlights across the Group. We signed the largest deal in the Company's history, the landmark six-year contract with Origin Energy. We have some issues with the blinds. Excuse that.
Six-year contract with Origin Energy involved the migration of over 130,000 Origin customers, which has now been completed successfully at the end of October on target with the plan that we launched some eight months previously. We continued our NBN market share gains, ending the year at approximately 4% market share and approaching 6% market share as of today across the Group, as we benefit from our multi-year strategy of supporting the challenger segment in its entirety of the broadband category. Our consumer segment experienced particularly strong growth, with revenue up 47% year on year and a record 80,000 new customers added, with particular success in our targeted high-speed plans. All segments contributed to revenue growth, with business revenue up 4.3% and wholesale revenue up 9.4%. The benefits of our operating model continue to be evident, with our OpEx as a percentage of revenue down 2.6 percentage points to 17.1%.
Finally, we finished FY 2024 ahead of plan on year one of our three-year double-down strategy. We set ourselves ambitious goals, and we're making great progress in meeting them, so from a financial position, it was another record year for Superloop, with some 30% year-on-year revenue growth to AUD 420 million, as I said, with all three of our market segments contributing, and we're particularly pleased to report that the vast majority of this revenue growth was generated organically, alongside our growth in customer numbers, which increased almost 24% to over 455,000 customers at the end of the period, and perhaps most pleasingly, our underlying EBITDA grew 45.2% to over AUD 54 million.
We also continue to see strong growth in free cash flow, an increase of 26% on FY 2023 to over AUD 29 million, providing a further solid proof point as to the cash generation capability of the Superloop platform. We're seeing positive momentum in operational performance across all three segments, as I mentioned, but of course, that's led by strong revenue growth, being up 30% to AUD 420 million. Our consumer segment delivered the greatest contribution to that revenue growth, up 47% on the back of record organic growth in subscriber numbers. The business segment up 4.3%, a solid result in a very challenging market. And the wholesale segment grew 9.4%, with a significant step up now underway in FY 2025, with the majority sorry, with the major contract wins of AGL and Origin, among others.
The operating leverage in the business is clear now, with the FY 2024 underlying EBITDA increase of 45.2%, exceeding the growth in revenue. Correspondingly, the underlying EBITDA margin increased by 1.3 percentage points to 12.9%. I remind you, our double-down ambition is to deliver underlying EBITDA margins of mid to high teens, and we're making good progress towards that goal. In FY 2024, we were the fastest-growing retail service provider in Australia, achieving record NBN adds of 78,000 across our owned brands, those being Superloop and Exetel. With the Origin migration now complete, today, as I said, we have approximately 6% market share across our owned and our enabled brands. We've talked before about the challenger megatrend, with challenger retail service provider brands growing market share at the expense of the older established brands.
This trend has been an important driver of our growth and the growth of all challengers and will continue to be so into the future. We are thrilled for the success of not just our consumer brands, but also for our wholesale customers, including AGL and Origin, among others. They are also experiencing great success in the market, and we're very proud that we're able to enable challenger brands through our wholesale solution set, and we see a significant future opportunity to further drive market share through both our own consumer brands and our partnerships with wholesale customers. We hope you've seen some of our efforts in driving brand awareness through digital, TV, radio, and print advertising. Our core brand values are being heard. Superloop is an RSP that is different to other internet providers, has competitive rates, and represents value for money.
Strong gains in brand awareness since the relaunch of Superloop in FY 2023 have been the foundation of our success in our target areas, including high-speed plans and in the fiber-to-the-premises market, with our market share continuing to grow in these segments. We continue to invest in brand and have an aspiration of reaching 25% prompted brand awareness by the end of FY 2025 to further support our ambitious growth plans. Our approach to ESG is also maturing as we grow. Our investment in ESG goes hand in hand with our social license to operate, and we've made some pleasing progress in our ESG efforts in FY 2024, including driving large reductions in the gender pay gap, progress in calculating and assessing our emissions, and a step up in our support of charities, including the DV Collective and other worthwhile causes.
We've invested significant time in formalising and enhancing these activities under our new ESG framework, and having clear ESG fundamentals are an important pillar of how we do business. So that's a recap of our FY 2024 progress, but if I move to FY 2025 and a trading update for the four months ending 31st of October, 2024. So with the first four months of FY 2025 now complete, we're off to a great start to the year across all three segments. To list a few of the highlights, overall, we've added some 182,000 customers, representing a 40% increase of our customer base since June this year. And as a Group, we now serve over 637,000 customers. The Origin migration was completed on schedule. That's not to be underestimated.
This was a significant project with over 130,000 customers migrated in a short timeframe and requiring exceptional collaboration between the Origin Energy and the Superloop teams. Another highlight announced today, actually, was the landmark win in the Smart Communities division with a contract with AVJennings for some 1,100 FTTP lots, contributing to a total of over 6,000 Smart Communities lots signed year to date. Financial year to date, sorry. We're gaining significant momentum in this key part of our business. We've also signed a wholesale NBN backhaul deal with Leaptel, further enabling the challenger segment. The contract is expected to add some AUD 4 million-AUD 5 million of revenue over the coming three years.
So if I focus in a little bit on the segments, in the consumer segment, over 19,000 net new customers were added year to date, or as of the end of October, demonstrating the continuation of our success in winning market share. Our consumer share of new orders for NBN was 7% overall, and we continue to perform particularly well in the strategically important high-speed segment of the market. Within the business segment, an additional 6,000 new Smart Communities lots have been secured, as mentioned, including FTTP deals with prominent national developers, including Resimax and AVJennings . The first Mirvac build-to-rent site went live with a further 10-15,000 lots now under construction. Notable wins in the period were achieved in large corporate, including Grant Thornton, IC Markets, Wagners, Ford, Citadel, among others. We have a strong pipeline of deals to support future success.
In the wholesale segment, as mentioned, Superloop won a significant contract with Leaptel for a national NBN backhaul service, expected to contribute around AUD 4-5 million over the next three years. The Origin migration has been successfully delivered on schedule by the end of October, sorry, 2024, which is a significant achievement. We re-signed the Macquarie Telecom contract to a new four-year deal, forecast to contribute some AUD 6.6 million over its term. Across the Group, we are now approximately 6% market share and stand to benefit from further gains as the challenges continue to grow. And as mentioned, across all three segments, Superloop acquired some 182,000 net new customers in the period. In the consumer segment, the increase of 19,000 new customers represents an increase of more than 6% on June 2024.
And of course, the huge growth in the wholesale segment includes the Origin Energy subscribers, which have now migrated. Okay. If we turn our attention to now look at the outlook for the full year, at the end of the first year of our three-year double-down strategy, with the ambition to more than double consumer subs revenue and underlying EBITDA, we are tracking ahead of plan and confident of reaching our ambitions by the end of FY 2026.
We've already reached our ambition to deliver a positive NPAT-A, following strong performance in all three segments in FY 2024, with strong growth in customer numbers, revenue, and EBITDA. In FY 2025, we have undergone a significant step change in earnings contribution from the wholesale segment through the Origin and AGL contracts, among others. The growth path from here is clear, and the team are completely aligned to deliver that growth in value for shareholders.
As we progress through the second year of our double-down strategy, we will continue to build on the strong foundations laid in FY 2024. There are three pillars driving growth for Superloop: a laser focus on maintaining our position as a cost leader, continued initiatives to drive organic growth, as well as disciplined M&A. Our positioning as a value player has shown in this past year, in particular, to be the right strategy and is underpinning our growth. And to support our cost structure further, we'll continue to invest in digitization and automation and focus on maintaining a low cost to acquire customers. We'll do more of the same to drive organic growth, investing in brand awareness, leveraging our increased customer base by focusing on more cross-sell opportunities, and investing to build out network capacity to support that growth.
M&A remains a focus, and while we see plenty of opportunities, we take a disciplined approach to what we will consider and pursue. As you saw with the Symbio opportunity last year, we're not afraid to bow out if the transaction moves beyond our value parameters, and any opportunity we pursue must have strong strategic alignment, allowing for tight integration with our existing business and create long-term value for our shareholders, so with that context, we affirm our FY 2025 guidance. That guidance is for underlying EBITDA to be in the range of $83-$88 million, which I remind you is an increase of some 53%-62% on FY 2024.
With greater than 50% year-over-year growth in EBITDA being an obviously very bullish outlook for the business, we think the achievement of the significant milestone of migrating the Origin customers to our network on schedule removes perhaps the largest risk to that FY 2025 forecast. And as such, we're happy to affirm our full-year guidance. We're maintaining our CapEx range guidance of AUD 28-AUD 30 million, which is inclusive of a significant growth in Smart Communities and network capacity for consumer, as well as capacity required for our newly acquired wholesale customers. So I'd like to thank all of you for your support, and with that, I'll hand back to Viv to conduct the formal business. Thanks, Paul. Before we move to the formal part of the meeting, there are a few housekeeping matters I need to address.
I'll now summarize the shareholder questions and voting procedures, which will apply to this meeting. I hope you don't mind if I move quickly through this section. As set out in the notice of meeting, there are eight resolutions to be considered today. The resolutions have been outlined and explained in the explanatory memorandum that was included in the notice of meeting. Each resolution we put to the meeting, with the exception of any that are not required to be dealt with in this way. Shareholders' questions, which are submitted online or over the phone, which are relevant to the resolution, will be read out by Tina Ooi, our Company Secretary, and addressed by myself and Paul Tyler. I'll then 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. Slide change there. Thank you. For shareholders joining us online, instructions on how to lodge a question online are set out on the screen. The online guide is also available at the bottom right of your screen. I encourage shareholders who have joined us today via the virtual meeting platform to submit their questions as soon as possible. Shareholders are also able to ask their questions orally through the questions and comments facility over the phone.
As stated in the notice of meeting, shareholders are required to call 1-800-990-363 to obtain their unique PIN before calling today. For further guidance on how to join in and ask a question over the phone, please refer to the last page of the online guide. The phone operator will introduce you and prompt you to speak at the appropriate time. All questions should be directed to myself as Chair of the meeting, and I will then invite other directors and/or relevant persons to respond as appropriate. We will address questions received from shareholders attending this AGM in person here in Sydney first, before moving on to shareholders' questions from the phone, and finally, 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 chairman of the meeting will be voted in favor of each resolution. Shareholders here in Sydney who hold a white voting card can mark their votes for each resolution as we consider them today. Representatives from our share registry, Link Market Services, will collect them from you at the end of formal business. Shareholders participating online may submit their votes at any time by clicking the Submit Vote button at the bottom of their online voting card. 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 has closed, our share registry provider 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 the 15th of October, 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.
The first item of business is to receive and consider the company's financial report, the director's report, and the auditor's report for the year ended 30 June 2024. There is no vote on this item of business. A copy of the statements and reports were published in our 2024 annual report and sent to those shareholders who requested hard copies. Shareholders have also had the opportunity to view statements and reports on our website. The purpose of this item of business is to provide an opportunity for shareholders to ask questions and make comments about the company's performance, operations, and management. For those who may wish to make a comment or ask a question regarding remuneration, please bear in mind that we have a separate item being our remuneration report, which will follow next. I will now invite questions and comments on the financial statements and reports.
Questions may also be asked to the auditors about the conduct of the audit, the content of the audit report, accounting policies adopted by the company, and the independence of the auditor in carrying out the audit. Questions that have been submitted regarding other items of business will be held over until we come to those items, and the general business of the company will be addressed after the meeting is closed. I'll now take questions from shareholders that are here in Sydney today. Are there any questions from the floor? I see no hands. Thank you. Are there any questions from shareholders joining online or on the phone for this item of business? There are no questions on the phone line at this time. Tina, anything online?
There are no questions. If there are no further questions, we will now move to the formal resolutions.
As a reminder, you can place your vote with respect to the resolutions put to the meeting and at any time using your physical or virtual voting card. Resolution 1. We will now proceed to Resolution 1, Adoption of the Remuneration Report. Resolution 1 is to consider the adoption of the company's remuneration report for the financial year 30 June 2024. The remuneration report is set out in the director's report in Superloop's 2024 annual report. Please note that the vote on this resolution is advisory only and does not bind the company or its directors. Voting exclusions apply to this resolution as set out in the notice of meeting. The directors abstain from making a recommendation in respect of this resolution and we now welcome questions with respect to the remuneration report. Are there any questions from the floor? Thank you.
Are there any questions from shareholders joining online or on the phone for this item of business?
There are no questions on the phone line at this time.
There are no questions.
Thank you. 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 will now proceed to Resolution 2, Re-election of Mr. Tony Clark as a non-executive director of Superloop. Mr. Clark retires in accordance with Rule 19.3B of the Constitution and ASX's listing Rule 14.4, and being eligible stands for re-election as a director. Details of Resolution 2 are set out in the notice of meeting, which we have taken as read. The directors, with Mr.
Clark abstaining, recommend this resolution be approved by shareholders and are now welcoming questions with respect to this item of business. Are there any questions from the floor? Are there any questions from shareholders joining online or on the phone for this item of business?
There are no questions on the phone line at this time.
There are no questions.
Thank you. 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 screen. Please mark your votes for this resolution now. Tony appears quite popular. Resolution 3. We will now proceed to Resolution 3, Ratification of Previous Agreement to Issue and Issue of Superloop Shares.
Resolution 3 seeks approval that for the purposes of ASX's listing Rule 7.4 and for all other purposes, shareholders ratify the previous agreement to issue and the issue of 8,156,489 Superloop shares to Origin Energy, as described in the notice of meeting, which we have taken as read. The directors unanimously recommend this resolution be approved by shareholders and we now welcome questions with respect to this item of business. Are there any questions from the floor? Thank you. Are there any questions from shareholders joining online or on the phone for this item of business?
There are no questions on the phone line at this time.
There are no questions.
As there are no further questions, I now formally move the motion that Resolution 3 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 will now proceed Resolution 4, approval of Issue of 1,691,201 Superloop Shares to Origin Resolution 4 seeks approval that for the purposes of ASX's listing Rule 7.1 and for all other purposes, shareholders approve the issue of 1,691,201 Superloop shares to Origin Energy as described in the notice of the meeting, which we have taken as read. The directors unanimously recommend this resolution be approved by shareholders and we now welcome questions with respect to this item of business. Are there any questions from the floor? Thank you. Are there any questions from shareholders joining online or on the phone for this item of business?
There are no questions on the phone line at this time.
There are no questions.
As there are no further questions, I now formally move the motion Resolution 4 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 will now proceed to Resolution 5, Approval of Issue of Superloop Shares. Resolution 5 seeks approval that for the purposes of ASX's Listing Rule 7.1 and for all other purposes, shareholders approve the issue of Superloop shares to Origin Energy with the number of Superloop shares equal to AUD 5 million divided by the 30-day VWAP as at the date Origin Energy achieves 200,000 of its broadband services customers on Superloop's broadband platform, as described in the notice of the meeting, which we have taken as read.
The directors unanimously recommend this resolution be approved by shareholders and are now welcome questions with respect to this item of business. Are there any questions from the floor? I can see there are no questions from the floor. Are there any questions from shareholders joining online or on the phone for this item of business?
There are no questions on the phone line at this time.
Thank you.
There is one question from Mark Eaglesham.
Shall I read it out?
The question is, the AGM explanatory memorandum noted the number of Origin services was expected to reach 200,000 by mid-February 2025. Do you expect an acceleration in connection growth from the existing number of approximately 158,000 to reach 200,000 by mid-February?
I'll hand to Paul to answer this question.
Sure. Thank you for the question.
The contract we have with Origin requires us to issue shares that they may achieve by hitting a growth milestone within a short period of time, several days. Of course, we need shareholder approval to issue those shares. We have a policy of not commenting on Origin's or any customers, wholesale customers, retail forecasts or their actuals. We will only report on our aggregated customer numbers. So the 200,000 point here is not a forecast, but we have taken the opportunity of the AGM to seek shareholder approval for that next growth milestone should Origin hit it. Shareholder approval only lasts for three months, and so the February date is the expiry of that three-month period, and if they hit that milestone within the three months, we grant the shares, and if they don't, we will come for an AGM to seek that approval after that date.
It's not a forecast.
Thanks, Paul. Are there any other questions, Tina?
There are no other questions. As there are no further questions, I now formally move the motion that Resolution 5 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 will now proceed to Resolution 6, Approval of Increase to Non-Executive Director Fee Pool. Resolution 6, Approval that for the purposes of ASX's listing Rule 10.17, Rule 19.5A of Superloop's Constitution and for all other purposes, the maximum aggregate amount of directors' fees that may be paid to Superloop's non-executive directors per annum as remuneration for their services be increased by AUD 300,000 from AUD 900,000 per annum to AUD 1.2 million per annum.
Details of Resolution 6 are contained in the notice of meeting, which we have taken as read. The directors abstain from making a recommendation in respect of this resolution and we now welcome questions with respect to the fee pool. Are there any questions from the floor? Thank you. Are there any questions from shareholders joining online or on the phone for this item of business?
There are no questions on the phone line at this time.
There are no questions.
As there are no further questions, I now formally move the motion that Resolution 6 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 7, Approval of Grant of Performance Rights to Mr.
Paul Tyler, Managing Director and Chief Executive Officer. Resolution 7 seeks approval that for the purposes of ASX's listing Rule 10.14 and for all other purposes, shareholders approve the grant of 551,984 performance rights and the issue of up to 551,984 Superloop shares on vesting and exercise of those performance rights should the board opt to satisfy the award by way of a new issue of Superloop shares. In respect of the long-term incentive for the financial year ending 30 June 2025 to Mr. Paul Tyler under the executive performance rights plan as described in the notice of meeting. Details of Resolution 7 are contained in the notice of meeting, which we have taken as read. The directors, with Paul Tyler abstaining, recommend this resolution be approved by shareholders and we now welcome questions with respect to this item of business. Are there any questions from the floor? Thank you.
Are there any questions from shareholders joining online or on the phone for this item of business?
There are no questions on the phone line at this time.
There are no questions.
As there are no further questions, I now formally move the motion that Resolution 7 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 8, Approval of Grant of Performance Rights to Mr. Paul Tyler, Managing Director and Chief Executive Officer.
Resolution 8 seeks approval that for the purposes of ASX's Listing Rule 10.14 and for all other purposes, shareholders approve the grant of 551,984 performance rights and the issue of up to 551,984 Superloop shares on vesting and exercise of those performance rights should the board opt to satisfy the award by way of a new issue of Superloop shares in respect of the double-down growth incentive for the financial year ending 30 June 2025 to Mr. Paul Tyler under the executive performance rights plan as described in the notice of meeting. Details of Resolution 8 are contained in the notice of meeting, which we have taken as read. The directors, with Paul Tyler abstaining, recommend this resolution be approved by shareholders and now welcome questions with respect to this item of business. Are there any questions from the floor? Thank you.
Are there any questions from shareholders joining online or on the phone for this item of business?
There are no questions on the phone line at this time.
There are no questions.
As there are no further questions, I now formally move the motion that Resolution 8 be put to the meeting in the form set out in the notice of meeting. Proxy votes in relation to this resolution are being shown on screen. Please mark your votes for this resolution now. We've 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. Shareholders who are joining us online, please be reminded to click on 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.
For shareholders in attendance here at Sydney, your card will be collected by representatives of Link Market Services shortly. Please put your voting card into the ballot boxes as they come around to you. The result 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'd 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 the floor? Thank you. Are there any questions from shareholders joining online or on the phone for this item of business?
There are no questions on the phone line at this time.
There are no questions.
Thank you.
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. This brings us to the end of Superloop's 2024 Annual General Meeting. Have a good afternoon and evening.