Bank directors elected at quiet meeting
The company which operates the Ettalong branch of the Bendigo Bank has elected five directors unopposed.
They were each elected with the 20 eligible votes at the company's annual meeting, according to minutes lodged with the National Stock Exchange on December 23.
The five directors are Bruce Croft, Jeanette Polley, Charles Brock, Robert Millwood and Paul Thomas.
The annual report for the year to June 2011, which showed a net profit of $16,645, was also accepted unanimously.
The remuneration report was adopted with 16 votes.
Four directors with shareholdings abstained from voting.
While the minutes recorded questions being asked by shareholders, the 40-minute meeting held on November 30 did not have the disputes of the previous annual meeting.
In the previous year, the minutes recorded the dissatisfaction of one board member with some activities of the board, together with her statement that "some members of the board cannot be trusted". She failed to be re-elected.
This year's minutes recorded questions about the way sponsorship was determined and whether a list of sponsored bodies could be included in the next annual report.
Questions were also asked about the company's performance in the new financial year and about previous tax losses of $245,256 brought to account for the first time.
Treasurer Mr Don Wilson responded to all the questions, the minutes stated.
The chairman Mr Mick Gage acknowledged the seven years' service given by Mr Brian Wright as a board member.
The meeting was attended by 20 people, including visitors such as representatives from the Bendigo Bank and the auditors Andrew Frewin and Stewart, as well as the regional manager, the branch manager and staff.
Minutes, 23 Dec 2011
Ettalong Beach Financial Services, NSX