Good afternoon to our U.S. investors, and good morning to our Australian investors. Welcome to the 2024 Annual General Meeting of Life360 Inc. My name is John Philip Coghlan, and I am the Chairman of Life360. On behalf of the board, it is my pleasure to address shareholders at Life360's fifth AGM since listing on the ASX in 2019. Today, we are very pleased to welcome those of you participating online through our virtual meeting platform provided by Lumi. This allows shareholders, proxies, and guests to attend the meeting virtually. All attendees can watch a live webcast of the meeting. In addition, shareholders and proxies have the ability to ask questions and submit votes. We've decided to hold a virtual meeting once again in 2024 to allow participation and engagement among our security holders, wherever they may be.
Should we have any technical issues, David Wiadrowski, who chairs the Audit and Risk Committee, will step in as acting Chairman. Online attendees can submit questions at any time. To ask a written question, select the Messaging tab at the top of the Lumi platform. Select the topic your question relates to from the dropdown list and then type your question in the box towards the top of the page. Press the arrow symbol to send. A copy of your submitted questions, along with any written responses from our meeting team, can be viewed by selecting My Messages. Please note that while you can submit questions from now on, I will not address them until the relevant time in the meeting. Please note that your question may be moderated, or if we receive multiple questions on one topic, amalgamated together.
Finally, due to time constraints, we may run out of time to answer all your questions. If this happens, we will answer them in due course via email. All questions will go through to Susan Stick, our General Counsel. Susan will read out the question, and I will either answer the question or pass it to the most appropriate person to answer. We reserve the right to rule out questions not relating to the AGM or which are out of order. To ask your question verbally, click on the Request to Speak button at the bottom of the broadcast window. The audio questions interface will then display. You will be prompted to confirm your name and enter the topic of your question. Submit your request and follow the instructions to allow access to your microphone and connect to the queue.
Shortly, I will declare voting open on all items of business. At that time, if you are eligible to vote at the meeting, a new voting tab will appear. Selecting this tab will bring up a list of resolutions and present you with voting options. To cast your vote, simply select one of the options. Your vote is automatically recorded, and there's no need to press the Submit or Enter button. You do, however, have the opportunity to change your vote up until the time I declare voting closed. I now declare voting open on all items of business. The voting tab will soon appear. Please submit your votes at any time. I will give you a warning before I move to close voting. It is now after 4:30 P.M. in San Mateo, California, on May 29th, and correspondingly after 9:30 A.M. in Sydney, Australia, on May 30th.
I have been advised by our Inspector of Election, Computershare Trust Company, N.A., that proxies have been received in respect to the total number of outstanding shares that constitute a quorum for the matters to be considered at this meeting. I therefore declare this AGM open and welcome each of you to the virtual platform. Before I proceed with the business of the meeting, I would like to introduce my fellow directors. In the United States are Chris Hulls, our CEO and co-founder, and an executive director. Alex Haro, a co-founder and non-executive director. Brit Morin, independent non-executive director. Mark Goines, independent non-executive director and chairman of the Remuneration and Nomination Committee. Randi Zuckerberg, independent non-executive director. CJ Prober, a non-executive director. In Australia are James Synge, independent non-executive director, and David Wiadrowski, independent non-executive director and chairman of the Audit and Risk Committee.
Also attending today are Russell Burke, our Chief Financial Officer, Susan Stick, our General Counsel, and our auditor, Joseph Prast from Deloitte. The agenda for the meeting today will be as follows: firstly, I will give a short address on Life360's performance for the 2023 fiscal year and an overview of the company's strategy. This will be followed by a presentation from our CEO, Chris Hulls. I will then outline the meeting procedures and continue to the formal items of business. Thank you to our shareholders for joining the annual general meeting today. Life360's mission is to keep people close to the ones they love. During 2023, we made significant progress towards achieving this mission, with meaningful enhancements to our members' experience, including continued benefits from the Tile acquisition.
We now show users what their family members are up to, whether they're driving, walking, or cycling, and we put pets and other valuables on the Life360 map.... We are very proud that we deliver the peace of mind that comes with our location sharing and safety features to more than 66 million monthly active users across the globe as of March 2024. 2023 was a pivotal year for the company as we leveraged our growth and scale to significantly reduce our net loss and achieve positive operating cash flow and adjusted EBITDA. Life360 met or exceeded all of the guidance metrics we provided to the market for 2023. Revenue growth of 33% to $304.5 million, benefited from continued strong momentum in our subscription business, with revenue increasing 44% year-on-year.
At the same time, GAAP operating expenses increased just 4% year-on-year and reduced 1% year-on-year when excluding variable sales commissions, reflecting a disciplined approach to cost. The strong revenue growth, combined with cost restraint, underpinned a greater than $60 million year-on-year improvement in each of net loss, EBITDA, and adjusted EBITDA to -$28.2 million, -$20.8 million, and $20.6 million, respectively. A similar $60 million improvement in operating cash flow delivered the first full year of positive cash flow of $7.5 million. Life360's balance sheet is strong, finishing the 2023 year with cash, restricted cash, and cash equivalents of $70.7 million. During 2023, Life360 progressed against the strategic objectives designed to cement our market-leading position in family safety and security.
Our strategy to grow our audience delivered a 26% year-on-year uplift in monthly active users to more than 61 million at December 2023. International growth was particularly strong, increasing 40% year-on-year, with a record number of international MAU additions. Our goal to drive membership resulted in a 21% year-on-year increase in global paying circles to 1.8 million. This outcome is particularly impressive in the context of U.S. price increases, which helped lift global ARPPC by 25% year-on-year and reflects the loyalty and engagement of our member base. Our strategy to expand internationally saw paying circles outside of the US increase 43% year-on-year, with a particularly strong performance from the predominantly English-speaking countries of Canada, the UK, and Australia.
We launched our U.S. model of triple-tier membership in the U.K. in October 2023, and in Australia and New Zealand in April 2024, with encouraging early results. Finally, our focus on maintaining financial discipline while continuing to invest for growth underpinned the 33% year-on-year increase in revenue and the achievement of positive adjusted EBITDA. Chris will outline in his address the initiatives underway in 2024 to deliver on our ambitious aspirations for the company. At Life360, our mission is to keep people close to the ones they love. Our environmental, social, and governance initiatives reflect our commitment to simplifying family safety and security. During the year, we dispatched almost 39,000 ambulances and protected more than 300 billion miles with Life360 Crash Detection. The user testimonials we receive on a daily basis show the real-world impact of our digital services.
I would like to express my gratitude to my fellow board members for their invaluable contributions to Life360 over the past year. Shareholders and employees are great beneficiaries of their wise counsel and dedication. I would also like to extend my appreciation to you, our shareholders, for your ongoing support of the company. Finally, on behalf of the board, I thank our talented colleagues for their hard work and commitment to excellence. In particular, I acknowledge Chris Hulls and his entire leadership team for creating a culture of innovation, creativity, and collaboration. Their vision for a fully integrated and differentiated family safety and location platform drives the many growth opportunities that lie ahead for our company. I'll now hand over to Chris Hulls, who will provide an update on the company's performance.
Thanks, John. Good morning to our shareholders, and thank you for joining us today. I am pleased to be able to provide you with a brief business update and illustrate how Life360 continues to deliver against our strategic objectives. We are already a beloved app for families to keep track of their kids' safety, and our goal is to become the number one brand that makes everyday life better for families at all life stages. John mentioned earlier that in 2023, we delivered 26% year-on-year growth in MAU.... We delivered accelerating momentum in the first quarter of 2024, with year-on-year growth of 31% and record net additions for a first quarter. Our current international triple-tier markets of focus, Canada, the UK, and Australia, all performed strongly in 2023 and continue to do so in the first quarter of 2024.
During 2023, global paying circles increased 21% year-over-year, a very good outcome in the context of the significant price increases we implemented in the U.S., global average revenue per paying circle was 25% higher year-over-year. Together, these drivers underpinned a 52% year-over-year increase in core Life360 subscription revenue, which delivered ahead of guidance. We've seen continued strong momentum in paying circles in the first quarter of 2024 across both U.S. and international markets, with 21% year-over-year growth and record net additions for a first quarter. These strong metrics are reflected in the continued strong growth of Life360's recurring revenue. Since our Australian IPO in May 2019, Life360's annualized monthly revenue has more than quadrupled to $274 million, and we've seen a further 19% year-over-year uplift in March 2024.
Before I outline our strategic initiatives for 2024, I'd like to provide a glimpse into our long-term aspirational goals. Given our user base and the role our product plays in our members' lives, we're being intentional about where we're headed for the future. We aim to be the number one brand to make everyday family life better for all life stages. As we grow our relevance to an ever broader range of families, we see opportunities to significantly increase our monthly active user base, deliver our first $1 billion in revenue through innovation in our business, and progress in our pathway to significant EBITDA margins. During FY 2024, we focused on four key initiatives. Growing our audience is about continuing to build on our very large existing base, more than 66 million monthly active users.
The growth momentum of this user base has primarily been fueled by organic word of mouth, and we are investing in products to encourage our members to tell other people about Life360. In addition, we are developing new features that give members more reasons to engage with the app, using our vast data resources to provide insights to make family life easier. We're also investing in marketing to cement Life360's position as a recognized brand leader for everyday family life. Finally, our international expansion remains core to our growth strategy. Scaling paid offerings includes a focus on growing both paid subscriptions and the number of Tile devices in use. We see these as two sides of a connected experience that helps us address the needs of members at all life stages. Examples include adult children who are worried about aging parents and pet parents concerned about their furry loved ones.
We are very excited about the ways in which Tile devices can expand our use cases and allow us to deliver more value to members. Work is underway on the first new Tile release since the acquisition. We continue to see a large international growth opportunity for subscriptions and Tile device sales. Our triple-tier offering launched in the UK in October 2023 and in Australia and New Zealand in April 2024. Creating new revenue streams involves building new growth opportunities that benefit from our enormous free user base of 66 million MAU. Earlier this year, we announced the creation of a new advertising revenue stream that we believe offers partners valuable reach to these free users. We have consistently spoken of the potential that our investment in the core user experience and the scaling of our MAU base would provide for the future.
We are encouraged by the success of early testing and see the opportunity to deliver an attractive platform to advertisers while continuing to provide a great user experience. Expanding profitability reflects our commitment to delivering profitable growth. In my report a year ago, I outlined how Life360 was a pivotal stage to leverage scale in the cost base and deliver a path to profitability. Our disciplined approach to cost in CY 2023 and continued strong revenue momentum combined to deliver our first full year of positive Adjusted EBITDA. This ongoing approach underpins our expectation of a trajectory to positive EBITDA in CY 2025 and ultimately strong EBITDA margins. Finally, turning to our earnings guidance. Life360 has maintained the FY 2024 earnings guidance included in the Q1 2024 results announcement, released on 10th of May 2024, 9th of May, US Pacific Time.
With that, I will hand back to John to conduct the formal part of the meeting.
Thank you, Chris. If shareholders have any questions on the updates which Chris and I have presented, please ask them now, and I will address them in turn at the end of the meeting. The notice of meeting was distributed on April 16, 2024, and I propose to take the notice of meeting as read. Before moving on to the various resolutions to be considered today, I will now briefly outline the meeting and voting procedures. As set out in the notice of meeting, voting on each of the resolutions will be conducted by a poll. The results of the poll will be released on the ASX and will be available on the company's website as soon as possible after the meeting. As chairman of the meeting, I will vote all directed proxies in accordance with the directions provided by shareholders.
I am also holding undirected proxies in my capacity as chairman of this meeting, and I intend to vote all such proxies in favor of all resolutions. As shareholders, if you've not already done so, you can cast your vote using the electronic voting card that you received when you registered via the online virtual platform. You are able to vote between the commencement of the meeting and the closure of voting, as announced during the meeting. If you are a CDI holder attending the online meeting, you will not be able to vote using the online voting system and must have submitted your CDI voting form ahead of the meeting in accordance with the procedures in the notice of meeting. We will display the number of proxy votes received for each resolution, as well as the terms of each proposed resolution ahead of voting on each resolution.
I will now move to the business of the meeting. The proxy materials accompanying the notice of meeting included detailed information, explanations, and rationale around each of the items of business. For this reason, when I come to introduce each resolution, I do not propose to summarize any of the information, explanations, or rationale for the resolutions which were included in the proxy materials. The first resolution of the meeting is the re-election of Brit Morin as a director of the company. Information relevant to Brit's proposed re-election is set out in the information that accompanied the notice of meeting. The board, with Brit Morin abstaining, unanimously recommends shareholders vote for this resolution. I now invite Brit to address the meeting in relation to her re-election.
Thanks, John. As a seasoned technology executive and long-standing board member, I would be honored to continue serving on the Life360 board of directors. My experience in leading and scaling technology companies provides a valuable perspective as Life360 continues to innovate and grow. Furthermore, my experiences running Brit + Co, a platform that engages tens of millions of women each month, plus Offline Ventures, an investment firm for early-stage technology startups, gives me a unique lens on the opportunities that Life360 still has lying before us. Life360's mission to bring families closer together through technology is more relevant than ever, and as a mother of three, I attest to using the product many times a day. I'm excited about the company's future and the potential to positively impact millions more families like mine worldwide through enhanced safety, connection, and peace of mind.
Thank you, Brit. The resolution is set out on the slide. I will now address any questions regarding Brit's re-election as a director. Susan, do we have any questions? No questions. Thank you. I put to the meeting Proposal 1 A. The proxies received are on the screen. On your electronic voting card, through the voting icon, please now select "For" or "Withhold" next to Proposal 1 A. The next resolution of the meeting is the re-election of James Synge as a director of the company. Information relevant to James' proposed re-election is set out in the information that accompanied the notice of meeting. The board, with James Synge abstaining, unanimously recommends shareholders vote for this resolution. I now invite James to address the meeting in relation to his re-election.
Thanks, John. I remain as excited about the future prospects of Life360 as when I first met Chris and invested in Life360 over 15 years ago. I was one of the earliest outside investors in the company and played a large role in bringing Life360 to the ASX for its IPO. I believe my long history and deep understanding of the company and my broader experience of scaling businesses will be an asset to the board. I feel honored to have been a part of the journey to date, and were I to be re-elected, I look forward to serving all shareholders as we continue to grow our offering to members worldwide.
Thank you, James. The resolution is set out on the slide. I will now address any questions regarding James' re-election as a director. Susan, do we have any questions? No questions. Thank you. I put to the meeting Proposal 1 B. The proxies received are on the screen. On your electronic voting card, through the voting icon, please now select "For" or "Withhold" next to Proposal 1 B. The next resolution of the meeting is the re-election of David Wiadrowski as a director of the company. Information relevant to David's proposed re-election is set out on the information that accompanied the notice of meeting. The board, with David Wiadrowski abstaining, unanimously recommends shareholders vote for this resolution. I now invite David to address the meeting in relation to his re-election.
Thank you, John, and good morning to my fellow shareholders. I'm delighted to offer myself for re-election to the Life360 board of directors. I've now served on the board for five years and have developed a deep understanding of the Life360 business, its strategy, and its culture. During this time, I've chaired the Audit and Risk Committee and overseen the implementation and strengthening of controls and governance within the business. I'm a hands-on director, and so outside the formal board and committee meetings, spend time in the business with key executives, continue to increase my knowledge of the business, and to support them in their roles and the execution of the business strategy.
Prior to joining Life360, I was a senior assurance partner at a Big Four accounting firm for more than 25 years and bring significant experience and knowledge in financial reporting, technical accounting, and audit, along with risk management skills. I also focused on the technology, media, and telco industries in that time. I currently sit on three public company boards and one non-for-profit board. I believe I have the time and capacity to manage all these commitments, and this is reflected in my attendance record at all board and committee meetings across all of my boards. I look forward to your support today and working with the Life360 board into the future.
Thank you, David. The resolution is set out on the slide. I will now address any questions regarding David's re-election as a director. Susan, do we have any questions? There are no questions. Thank you. I put to the meeting Proposal 1C. The proxies received are on the screen. On your electronic voting card, through the voting icon, please now select "for" or "withhold" next to Proposal 1C. Proposal 2 relates to the grant of restricted stock units and performance restricted stock units to Chris Hulls under the company's amended and restated 2011 stock plan. The board, with Chris Hulls abstaining, unanimously recommends shareholders vote for this resolution. The resolution is set out on the slide. I will now address any questions regarding the grant of restricted stock units to Chris. Susan, do we have any questions? No questions. Thank you.
I put to the meeting Proposal 2. The proxies received are on the screen. On your electronic voting card, through the voting icon, please now select "for," "against," or "abstain" next to Proposal two. As the next resolution relates to the grant of restricted stock units to myself, I propose to hand the chair to David Wiadrowski for this item.
Thank you, John. Proposal 3 relates to the approval of the grant of restricted stock units to John Philip Coghlan under the amended and restated company's 2011 stock plan. The board, with John Philip Coghlan abstaining, unanimously recommends shareholders vote for this resolution. The resolution is set out on the slide. I will now address any questions regarding the grant of restricted stock units to John. Susan, do we have any questions?
No questions.
Thank you. I put to the meeting Proposal 3. The proxies received are on the screen. On your electronic voting card through the voting icon, please now select "for," "against," or "abstain" next to Resolution three. I'll now pass the chair back to John.
Thank you, David. Proposal 4 relates to the approval of the grant of restricted stock units to Brit Morin under the company's amended and restated 2011 stock plan. The board, with Brit Morin abstaining, unanimously recommends shareholders vote for this resolution. The resolution is set out on the slide. I will now address any questions regarding the grant of restricted stock units to Brit. Susan; do we have any questions? No questions. Thank you. I put to the meeting Proposal 4. The proxies received are on the screen. On your electronic voting card, through the voting icon, please now select "for," "against," or "abstain" next to Proposal 4. Proposal five relates to the approval of the grant of restricted stock units to James Synge under the company's amended and restated 2011 stock plan. The board, with James Synge abstaining, unanimously recommends shareholders vote for this resolution.
The resolution is set out on the slide. I will now address any questions regarding the grant of restricted stock units to James. Susan, do we have any questions? No questions. Thank you. I put to the meeting Proposal 5. The proxies received are on the screen. On your electronic voting card, through the voting icon, please now select "for," "against," or "abstain" next to Proposal 5. Proposal 6 relates to the approval of the grant of restricted stock units to Mark Goines under the company's amended and restated 2011 stock plan. The board, with Mark Goines abstaining, unanimously recommends shareholders vote for this resolution. The resolution is set out on the slide. I will now address any questions regarding the grant of restricted stock units to Mark. Susan, do we have any questions? No questions. Thank you. I put to the meeting Proposal 6.
The proxies received are on the screen. On your electronic voting card, through the voting icon, please now select "for," "against," or "abstain" next to Proposal 6. Proposal 7 relates to the approval of the grant of restricted stock units to David Wiadrowski under the company's amended and restated 2011 stock plan. The board, with David Wiadrowski abstaining, unanimously recommends shareholders vote for this resolution. The resolution is set out on the slide. I will now address any questions regarding the grant of restricted stock units to David. Susan, do we have any questions? There are no questions. Thank you. I put to the meeting Proposal 7. The proxies received are on the screen. On your electronic voting card, through the voting icon, please now select "for," "against," or "abstain" next to Proposal 7.
Proposal 8 relates to the approval of the grant of restricted stock units to Randi Zuckerberg under the company's amended and restated 2011 stock plan. The board, with Randi Zuckerberg abstaining, unanimously recommends shareholders vote for this resolution. The resolution is set out on the slide. I will now address any questions regarding the grant of restricted stock units to Randi. Susan, do we have any questions? No questions. Thank you. I put to the meeting Proposal 8. The proxies received are on the screen. On your electronic voting card, through the voting icon, please now select for, against, or abstain next to Proposal 8. Proposal 9 relates to the approval of the grant of restricted stock units to Alex Haro under the company's amended and restated 2011 stock plan. The board, with Alex Haro abstaining, unanimously recommends shareholders vote for this resolution.
The resolution is set out on the slide. I will now address any questions regarding the grant of restricted stock units to Alex. Susan, do we have any questions? No questions. Thank you. I put to the meeting Proposal 9. The proxies received are on the screen. On your electronic voting card, through the voting icon, please now select for, against, or abstain next to Proposal 9. Proposal 10 relates to the approval of the grant of restricted stock units to CJ Prober under the company's amended and restated 2011 stock plan. The board, with CJ Prober abstaining, unanimously recommends shareholders vote for this resolution. The resolution is set out on the slide. I will now address any questions regarding the grant of restricted stock units to CJ. Susan, do we have any questions? No questions. Thank you. I put to the meeting Proposal 10.
The proxies received are on the screen. On your electronic voting card, through the voting icon, please now select for, against, or abstain next to Proposal 10. Proposal 11 relates to an advisory vote on executive compensation for the company's named executive officers. This vote is not intended to address any specific item of compensation, but rather the overall compensation of the company's named executive officers and the philosophy, policies, and practices described in the proxy statement. The board unanimously recommends shareholders vote for this resolution. I will now address any questions regarding the advisory vote on executive compensation. Susan, do we have any questions? No questions. Thank you. I put to the meeting Proposal 11. The proxies received are on the screen. On your electronic voting card, through the voting icon, please now select for, against, or abstain next to Proposal 11.
Proposal 12, conduct of an advisory vote on the frequency of solicitation of advisory stockholder approval of executive compensation. It relates to this, advisory vote, for the company's named executive officers. The board believes that an annual advisory vote on the compensation of the company's named executive officers will allow our stockholders to provide, timely and direct input on the company's executive compensation, philosophy, policies, and practices, as disclosed in the proxy statement each year. The board unanimously recommends shareholders vote one year for this resolution. The resolution is set out on the slide. I will now address any questions regarding the advisory vote on the frequency of solicitation of the advisory stockholder approval of executive compensation. Susan, do we have any questions? No questions. Thank you. I put to the meeting Proposal 12. The proxies received are on the screen.
On your electronic voting card, through the voting icon, please now select 1 year, 2 years, 3 years, or abstain next to Proposal 12. Proposal 13 relates to the ratification of the selection of Deloitte & Touche LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2024. The board unanimously recommends shareholders vote for this resolution. The resolution is in the slide. I will now address any questions regarding the ratification of the selection of Deloitte & Touche LLP. Susan, do we have any questions? No questions. Thank you. I put to the meeting Proposal 13. The proxies received are on the screen. On your electronic voting card, through the voting icon, please now select for, against, or abstain next to Proposal 13.
Proposal 14 relates to the approval of an amendment to the company's certificate of incorporation to increase the number of authorized shares of common stock from 100 million shares to 500 million shares. The board unanimously recommends shareholders vote for this resolution. The resolution is set out on the slide. I will now address any questions regarding the amendment to the company's certificate of incorporation to increase the number of authorized shares. Susan, do we have any questions? No questions. Thank you. I put to the meeting Proposal 14. The proxies received are on the screen. On your electronic voting card, through the voting icon, please now select For, Against, or Abstain next to Proposal 14. Proposal 15 relates to the approval of an amendment to the company's certificate of incorporation to create a class of preferred stock. The board unanimously recommends shareholders vote for this resolution.
The resolution is set out on the slide. I will now address any questions regarding the amendment to the company's certificate of incorporation to create a class of preferred stock. Susan, do we have any questions? No questions. Thank you. I put to the meeting Proposal 15. The proxies received are on the screen. On your electronic voting card, through the voting icon, please now select For, Against, or Abstain next to Proposal 15. Proposal 16 relates to the approval of an amendment to the company's certificate of incorporation to permit the Chairperson of the Board, the Board, or the Chief Executive Officer of the company to call a special meeting of our stockholders with the effect of removing the ability of certain stockholders to call a special meeting. The Board unanimously recommends shareholders vote for this resolution. The resolution is set out on the slide.
I will now address any questions regarding the amendment to the company's certificate of incorporation to amend the authority to call a special meeting of stockholders. Susan, do we have any questions? No questions. Thank you. I put to the meeting Proposal 16. The proxies received are on the screen. On your electronic voting card, through the voting icon, please now select For, Against, or Abstain next to Proposal 16. Proposal 17 relates to the approval of an amendment to the company's certificate of incorporation to eliminate or limit the liability of company's officers to the extent permitted under Delaware law. The board unanimously recommends shareholders vote for this resolution. The resolution is set out on the slide. I will now address any questions regarding the amendment to the company's certificate of incorporation to reflect Delaware law provisions regarding exculpation of officers. Susan, do we have any questions? No questions.
Thank you. I put to the meeting Proposal 17. The proxies received are on the screen. On your electronic voting card, through the voting icon, please now select For, Against, or Abstain next to Proposal 17. Proposal 18 relates to the approval of an amendment to the company's certificate of incorporation to add a new provision that the sole and exclusive forum for the resolution of any complainant asserting a cause of action under the U.S. Securities Act of 1933, as amended, shall be the federal district courts of the United States of America. The board unanimously recommends shareholders vote for this resolution. The resolution is set out on the slide. I will now address any questions regarding the amendment to the company's certificate of incorporation to provide for an exclusive federal forum. Susan, do we have any questions? No questions. I put to the meeting Proposal 18.
The proxies received are on the screen. On your electronic voting card, through the voting icon, please now select For, Against, or Abstain next to Proposal 18. Ladies and gentlemen, that concludes our discussion on the items of business. I will shortly close the voting system. Please ensure that you have cast your vote on all resolutions. I will now pause to allow you time to finalize those votes. Voting is now closed. Thank you. As mentioned earlier, the results of this meeting will be announced to the ASX as soon as the votes have been counted and verified. We will report our final voting results on a current report on Form 8-K to be filed with the SEC within 4 business days. That completes the formal business of the meeting.
I will now answer any questions received on the 2023 annual report and any general questions that we have received. Susan, do we have any questions? There are no questions. Thank you. I believe that we've answered all questions received, but before I close the meeting, Susan, are there any final questions the shareholders have? There are none. If there are any further queries, I encourage you to send them to our investor relations email address, which is available on the company's website. That concludes the business of the meeting, and I now declare this annual meeting closed. Thank you for your time, your questions, and your continued engagement and support.