3 questions lodged at 2025 Dropsuite hybrid scheme meeting AGM

Q1. What sort of solicitation campaign did you run to get out the vote at today's scheme meeting and were you pleased with the turnout? Also, for those shareholders unable to watch this scheme meeting live, will a recording of the meeting be made available on your website, at least until the takeover closes?

Answer: The chair Theo Hnarakis took control from the question wrangler, named the solicitation firm which managed to do well and get 307 votes by proxy out of almost 1800 which was disclosed early in the formal addresses and then gave an honest answer that they were recording the meeting but wouldn't make it public online. Watch video of exchange via Twitter, plus these additional comments about the recording.
Q2. Australia is currently in the midst of an unprecedented deluge of takeovers that has contributed to listed entities on the ASX dropping in 26 of the past 27 months for a net reduction of 211 or 9.2% to 2,083 on April 30, 2025. There were a record 29 major takeovers above $200m completed in calendar 2024. The ASX is losing many long standing names such as CSR, Boral, Blackmores, Crown, Newcrest, Alumina and now Dropsuite. There is a clear mis-pricing between public markets and private markets. Why are public markets not valuing ASX listed companies like ours more highly and does the chair agree this is a problem for the nation, particularly with so few new floats replenishing the ASX ranks?

Answer: The chair Theo Hnarakis read the question in full and then offered some interesting reflections, summarising the company's great success. Watch video of exchange via Twitter, plus these additional comments.

Q3. Why did it take so long to get FIRB approval when this takeover was announced in January. Did the Federal election mean that Treasurer Jim Chalmers was not actually legally able to approve this takeover when the government was in caretaker mode. Did Donald Trump hostile tariffs attack on Australia on April 2, which breached the US-Australian fair trade agreement, cause any issues with FIRB approval?

Answer: The chair Theo Hnarakis said the Federal election did slow things down before this May 5 FIRB approval and the company's data storage operations were sensitive and warranted considered government review. Watch video of exchange via Twitter.

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