On Wednesday 25 November, Bank Australia held its Annual General Meeting.
In the lead up to the meeting customers were asked to vote on a number of important matters, and we’re pleased to report the results.
In the Director election Melissa Bastian was re-elected; and, Anne-Marie Corboy elected to the Board.
Proposed changes to the Constitution were agreed with 83.5% of votes in favour of the resolution. As a result the subscription price for a share in Bank Australia is now nil ($0). Customers who have paid $5 for their share will have this reimbursed into their primary account by the end of the first quarter in 2016. The bank’s demutualisation protection clause has also been reconfirmed for the next three years.
The annual Director remuneration was also approved with 75.2% of votes in favour of the resolution.