Notice is hereby given that the:
2022 Annual General Meeting of the Australian Property Institute Limited (ACN 608 309 128)
will be held at the: Australian Property Institute Limited Head Office, Level 3 – 60 York Street Sydney, NSW 2000 and via LUMI Global Conference Services
on: Wednesday, 25 May 2022
at: 4:00 PM AEST
with electronic voting to be conducted as follows:
Items of Business
The purpose of the AGM is to consider the following business:
1) Minutes of previous AGM
To adopt the Minutes of the Annual General Meeting held on Wednesday, 26 May 2021 at York Events, Level 2, 95-99 York Street Sydney NSW and via LUMI Global Conference Services.
The minutes of the 2021 Annual General Meeting will be made available on the API website.
2) API Reports
To receive and consider the:
- Annual Report in respect of API Ltd and its controlled entities;
- Auditor’s Report; and
- Financial Report.
for the 12-month period ended 31 December 2021.
Australian Property Institute Limited’s Annual Report will be published on the API website.
3) Election of Directors
To announce the results of the election of Directors.
As there are more nominations than vacant positions to be filled for this year’s director nominations, the election is to be conducted in accordance with clause 8.30(b)(ii) of API’s Constitution. Meaning the election is to be held via a ballot (electronically).
The three nominees who receive the highest number of votes will be elected to fill the three vacant positions. Practically, this means it is a ‘first past the post’ method. If any of the nominees are ranked in the top 3, by number of votes, but are subsequently disqualified by reason of clause 9.1(c), meaning their election will result in three directors residing in the same State, they will be excluded and replaced with the nominee who receives the next highest number of votes.
There is no need to re-conduct the ballot and exclude that person from the election. This same method will be applied until there are three nominees that are not excluded by clause 9.1(c). We confirm there is no preferential voting.
To announce the results of the following motions set out in the attached Notice of Motions:
Motion 1 (special resolution): That the Australian Property Institute Limited revoke its current Constitution and replace it with the version annexed to the Notice of Motions and marked “B” effective from the conclusion of the API 2022 AGM.
Key changes and a summary of the Governance Review that informed the new Constitution are set out in the accompanying Explanatory Memorandum marked “A”.
Motion 2 (ordinary resolution): That the Australian Property Institute Limited and its Directors do all things necessary to give effect to the above special resolution following the passing of the resolution.
5) Other Eligible Business
To deal with any other business which is brought forward in conformity with Australian Property Institute Limited’s Constitution.
By order of the Board.
Australian Property Institute Limited