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Director's
Report
The Board of
Directors of Computershare Limited has pleasure in submitting its
report in respect of the financial year ended 30 June 2001.
Directors
The names of the directors in office at the date of this report
are:
- A.S.Murdoch
(Chairman)
- C.J.Morris
(Managing Director)
- M.E.Elliott
- P.J.Griffin
- P.J.Maclagan
- A.N.Wales
The qualifications,
experience and responsibilities of directors are outlined on page
28 of the Report to Shareholders – 2001.
Directors’
Interests
At the date of this report, the direct and indirect interests of
the directors in the shares of the company are:
Name
|
Number
of options |
Number
of Ordinary Shares |
| M.E.
Elliot |
3,000,000 |
1,000,000 |
| P.J.
Griffin |
- |
2,250,000 |
| P.J.
Maclagan |
- |
16,245,525 |
| C.J.
Morris |
- |
53,322,542 |
| A.S.
Murdoch |
- |
609,800 |
| A.N.
Wales |
- |
32,592,384 |
Directors
’Meetings
The number of meetings of the Board of Directors (and of Board committees)
and the number of meetings attended by each of the directors during
the financial year are:
| |
Director's
Meetings |
Audit
Committee Meetings |
Nomination
Committee Meetings |
Remuneration
Committee |
|
A |
B |
A |
B |
A |
B |
A |
B |
| A.S.
Murdoch |
8 |
8 |
4 |
4 |
1 |
1 |
1 |
1 |
| M.E.
Elliot |
4 |
4 |
- |
- |
- |
- |
- |
- |
| P.J.
Griffin |
8 |
8 |
4 |
4 |
1 |
1 |
1 |
1 |
| P.J.
Maclagan |
8 |
8 |
- |
- |
- |
- |
- |
- |
| C.J.
Morris |
8 |
8 |
- |
- |
- |
- |
- |
- |
| J.P.
Shergold |
7 |
7 |
3 |
3 |
1 |
1 |
1 |
1 |
| A.N.
Wales |
7 |
8 |
3 |
4 |
- |
- |
- |
- |
A
Number of meetings attended
B Number of meetings held during the
time the director held office during the year.
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Principal
Activities
The principal activities of the consolidated entity during the course
of the financial year were the operation of a computer bureau, operation
of share registries, including the administration of employee share
and option plans, and the provision of software specialising in
share registry, financial and stock markets. The Group also offers
corporate trust services and acts as trustee for clients’ debt offerings
in certain markets. Computershare is a registered securities transfer
agent. In addition, certain subsidiaries are Trust companies whose
charters include the power to accept deposits primarily acting as
an escrow and paying agent on behalf of customers. In certain jurisdictions
the Group is subject to regulation by certain federal and state
agencies and undergoes periodic examinations by those regulatory
agencies. There were no other significant changes in the nature
of the activities of the consolidated entity during the year.
Consolidated
Profit
The consolidated profit of the consolidated entity for the financial
year was $38,734,474 after income tax and outside equity interests.This
represents a 1% improvement on the 2000 result of $38,192,143. Consolidated
profit of the consolidated entity for the financial year excluding
non recurring items was $54,915,845 after income tax and outside
equity interests. This represents a 44% improvement on the 2000
results of $38,192,143.
Dividends
The following dividends of the consolidated entity have been paid,
declared or recommended since the end of the preceding financial
year:
- A final ordinary
dividend of half a cent per share amounting to $2,688,067 fully
franked in respect of the year ended 30 June 2000 was paid on
29 September 2000.
- An interim
ordinary dividend of half a cent per share amounting to $2,717,635
fully franked in respect of the year ended 30 June 2001 was paid
on 28 March 2001.
- A final dividend
recommended by the directors of the company in respect of the
year ended 30 June 2001, to be paid on 28 September 2001, is an
ordinary dividend of half a cent per share amounting to $2,738,062
fully franked.
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