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ASX LIMITED — AGM Information 2015
Sep 29, 2015
64439_rns_2015-09-29_def7e4ec-1180-4e15-b3d2-ce409aa92223.pdf
AGM Information
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30 September 2015
Australian Securities and Investments Commission Mr Oliver Harvey Senior Executive, Financial Market Infrastructure Level 5, 100 Market Street SYDNEY NSW 2000
ASX Market Announcements Office ASX Limited 20 Bridge Street SYDNEY NSW 2000
AGM PRESENTATION SLIDES
We attach a copy of the slides to be presented at ASX Limited’s Annual General Meeting today.
Amanda J. Harkness
Group General Counsel & Company Secretary
Further enquiries:
Media
Matthew Gibbs General Manager, Media and Communications Tel: +61 2 9227 0218 Mobile: 0411 121219 [email protected] http://www.asx.com.au/about/media-releases.htm
Analysts/Investor Relations
Stephen Hammon General Manager, Finance Tel: +61 2 9227 0260 Mobile: 0488 212755 [email protected] http://www.asx.com.au/about/investor-relations.htm
20 Bridge Street Sydney NSW 2000
ASX Limited ABN 98 008 624 691
www.asx.com.au Customer service 13 12 79
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ASX Limited 2015 Annual General Meeting
30 September 2015
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Opening Address
Rick Holliday-Smith Chairman
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Positive financial performance
| Income statement | FY15 $ million |
Variance to FY14 |
|---|---|---|
| Operating revenues | 700.7 | 6.4% |
| Underlying expenses | (160.1) | 4.2% |
| EBITDA | 540.6 | 7.1% |
| Underlying profit after tax | 403.2 | 5.2% |
| Statutory profit after tax | 397.8 | 3.8% |
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Revenues and expenses as per the Group segment reporting
3
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Regulatory settings supporting end-investors and growth
The last three years
3 YRS Regulations Rules support end-investors
Systemic risk Equity raising Location requirements Global standards adopted early
Global competitiveness Post-trade solutions in place US and European clearance AA- long-term S&P ratings
Equities clearing next 3–5 years
Market structure
Recommended maintain for five years
Future benefits
Technology
Implement fee reductions Replace CHESS Strengthen Code of Practice ‘Once in a generation’ opportunity to improve how Upgrade post-trade infrastructure equity market operates
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4
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Executive remuneration changes for FY16
STI Awards – applies to all Group Executives
-
50% cash 40% cash 50% deferred for two years 30% deferred for two years 30% deferred for four years
-
Deferral in cash
Deferral in equity
LTI Awards – applies to CEO and Deputy CEO
-
3 year performance period 4 year performance period
-
Fair value of ASX shares Face value of ASX shares
-
• 70% EPS, 30% TSR 50% EPS, 50% TSR Vesting ranges updated
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5
AGM Address
Elmer Funke Kupper Managing Director and CEO
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Positive revenue growth
| Operating revenues | FY15 $ million |
Variance to FY14 |
|---|---|---|
| Listings and Issuer Services | 176.6 | 13.9% |
| Cash Market | 125.2 | 6.7% |
| Derivatives and OTC Markets | 206.2 | 0.7% |
| Information Services | 73.7 | 7.0% |
| Technical Services | 57.3 | 8.3% |
| Austraclear | 45.3 | 10.4% |
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Operating revenues as per the Group segment reporting
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Stronger, more competitive exchange
Underlying profit after tax ($ million)
Equity (at end of period $ billion)
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403.2
383.2
356.6
346.2 348.2
FY11 FY12 FY13 FY14 FY15
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3.8
3.7
3.3
3.0 3.0
FY11 FY12 FY13 FY14 FY15
Capital raising2013 capital raising
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Dividends (cents per share)
Share price at end of period ($)
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187.4
183.2
177.9 178.1
170.2
FY11 FY12 FY13 FY14 FY15
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Underlying profit excludes significant items
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39.90
35.64
33.07
29.98 29.36
FY11 FY12 FY13 FY14 FY15
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8
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Key objectives
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Global leader in A$ and NZ$ financial markets
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World-class infrastructure, globally connected
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Regulatory settings supporting endinvestors and growth
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Increase options available to investors
Outstanding customer experience
Employer of choice
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Global leader in A$ and NZ$ financial markets Equities – Centre Point
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74.9
Dark Limit
Single Fill
61.1
Preference
Sweep
Block
37.0
19.8
Standard
4.7
FY11 FY12 FY13 FY14 FY15
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Equities Centre Point value traded ($billion)
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10
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Global leader in A$ and NZ$ financial markets Derivatives – OTC Clearing
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140
137 136
118
102
71
43
20
17
15
5
2
Jul-14Jul Aug-14Aug Sep-14Sep Oct-14Oct Nov-14Nov Dec-14Dec Jan-15Jan Feb-15Feb Mar-15Mar Apr-15Apr May-15May Jun-15Jun
2014 2015
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Derivatives OTC notional value cleared ($billion)
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Increase options available to investors Growing the listings franchise
General Technology
New Zealand
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Funds
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ASX Australian Liquidity Centre
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World-class financial infrastructure
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Trading platforms
Futures Cash market trading trading
Market integrity and risk platforms
Clearing and settlement platforms
Market Risk monitoring management
Equity options clearing
Cash clearing & settlement (CHESS)[1]
Phase I (Feb 15 – Dec 16)
Phase II
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- Decision expected in FY16 when there is clarity on cash equities clearing market structure
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Outstanding customer experience Customer Support Centre opened April 2015
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15
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Key objectives
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Global leader Increase options in A$ and NZ$ available to financial markets investors
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World-class Outstanding infrastructure, customer globally connected experience
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Regulatory settings supporting endinvestors and growth
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Employer of choice
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Performance of global indices over 15 months To 25 September 2015; Index
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220
210
200
190
180
China
170 40% (Shanghai
Composite)
160
United
150
Flat States
China
140 (S&P500)
130 Australia
10% (S&P/
120 ASX 200)
110
United
100
States
90 Australia
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
2014 2015
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Jul 2014 = 100
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Post balance date activity 1 July to 25 September 2015
Total capital raised 100% $26.1 billion
Cash market trading (ASX on-market) 24.5% $4.2 billion Daily average value Futures trading 7.0% 497,561 Daily average volume
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Number of IPOs
31% 34
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Equity options trading 13.1% 425,507 Daily average volume
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Comparisons are to FY15 corresponding period
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Formal Business
Rick Holliday-Smith Chairman
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Agenda Item 1 ASX Financial Report
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Agenda Item 2 Securities Exchanges Guarantee Corporation Financial Report
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Agenda Item 3 Election of Directors
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Agenda Item 3(a) Re-election of Mr Rick Holliday-Smith - Proxy and Direct Votes (Combined)
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For Against Open
99,993,168 1,843,805 1,532,138
96.74% 1.48% 1.78%
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Agenda Item 3(b) Re-election of Mr Peter Marriott - Proxy and Direct Votes (Combined)
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For Against Open
100,967,760 417,720 1,844,305
97.81% 0.40% 1.79%
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Agenda Item 3(c) Re-election of Mrs Heather Ridout - Proxy and Direct Votes (Combined)
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For Against Open
100,946,919 461,500 1,843,834
97.77% 0.45% 1.78%
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Agenda Item 3(d) Election of Ms Yasmin Allen - Proxy and Direct Votes (Combined)
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For Against Open
101,034,732 292,986 1,842,290
97.93% 0.28% 1.79%
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Agenda Item 4 Remuneration Report
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Item 4 – Remuneration Report
STI Awards – applies to all Group Executives
- 50% cash 40% cash 50% deferred for two years 30% deferred for two years
30% deferred for four years
- Deferral in cash
Deferral in equity
LTI Awards – applies to CEO and Deputy CEO
-
3 year performance period 4 year performance period
-
Fair value of ASX shares Face value of ASX shares
-
• 70% EPS, 30% TSR 50% EPS, 50% TSR Vesting ranges updated
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Item 4 – Remuneration Report Proxy and Direct Votes (Combined)
For Against Open 99,106,602 2,088,704 1,770,180 96.25% 2.03% 1.72%
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Agenda Item 5 Grant of Performance Rights
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Item 5 – Grant of Performance Rights Proxy and Direct Votes (Combined)
For Against Open 98,874,071 2,397,746 1,818,341 95.91% 2.33% 1.76%
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Questions
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