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OBJECTIVE CORPORATION LIMITED AGM Information 2011
65478_rns_2011-11-29_04ab4658-90b4-4549-80ae-f62f038bff8f.pdf
AGM Information
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Objective
30 November 2011
The Manager
Company Announcements Office
Australian Stock Exchange Limited
20 Bridge Street
Sydney NSW 2000
Electronic Lodgement
Dear Sir / Madam
Re: Objective Corporation Limited - Results of AGM and Presentation
Objective Corporation Limited hereby advises the results of the 2011 annual general meeting of shareholders held at 10.00am today.
| RESOLUTION | RESULT | NUMBER OF VOTES | |||
|---|---|---|---|---|---|
| For | Against | Proxy's Discretion | Abstain | ||
| 1. To adopt the Remuneration Report for the financial year ended 30 June 2011 | Passed on a show of hands | 3,408,928 | 68,500 | 28,000 | 650 |
| 2. Re-election of Mr L Warren as a director | Passed on a show of hands | 64,909,078 | - | 569,500 | 562,500 |
| 3. Approve the terms of the selective share buy back agreement | Passed on a show of hands | 65,101,578 | 370,000 | 561,500 | 8,000 |
Also attached is the presentation to shareholders.
Yours faithfully
D. Barnes
Company Secretary
AGM
NOVEMBER 2011.
CONNECTED.
COLLABORATIVE.
COMMUNITY.
Objective
FINANCIAL RESULTS FY2011
- Revenue of $40m (down 4%)
- Asia Pacific Revenue $31.7m (up 11%)
- European Revenue $7.5m (down 37%)
- NPAT of $3.1m (up 46%)
- R&D Investment of $9.3m (23% of revenue)
- Dividend 1.5 cps (unfranked)
CONNECTED. COLLABORATIVE. COMMUNITY.
FINANCIAL RESULTS FY2011
- Balance Sheet
- Net Assets of $16m
- Cash & cash equivalents of $10.7m
- Receivables of $10m
- No external borrowings ($6m facility)
- All Research & Development expensed
CONNECTED. COLLABORATIVE. COMMUNITY.
FINANCIAL RESULTS FY2011
- Asia Pacific Operations
- Revenue up 11%
- New customers and penetration throughout AUS and NZ
- Awarded large strategic long-term contract with RTA, NSW
- Department of Defence extends and upgrades Objective ECM
- Launched Value Insight Program
CONNECTED. COLLABORATIVE. COMMUNITY.
FINANCIAL RESULTS FY2011
- European Operations
- New customer wins despite challenging market conditions
- Bedford Borough Council
- First UK Local Government ECM contract
- Already an Objective Online customer (leveraging existing base)
- University of Portsmouth
- First University customer and entry in to Higher Education Sector
- Continued investment in successful Value Insight Program
CONNECTED. COLLABORATIVE. COMMUNITY.
FINANCIAL RESULTS FY2011
- Investment in R&D
- 23% of revenues invested in Innovation
- Unprecedented number of new solutions released
- Release of Objective ECM 8.1
- Release of Objective Enterprise Search
- Successful international customer conference
- Announcement of Objective Connect
CONNECTED. COLLABORATIVE. COMMUNITY.
FY2012 OUTLOOK
- Focus on Public Sector solutions
- Drive NPAT through focus on Software Revenue leverage
- Investment in Sales Execution in all territories
- Investment in Products & Innovation
- Evaluate growth & acquisition opportunities
CONNECTED. COLLABORATIVE. COMMUNITY.