6 questions lodged at 2025 Medical Development (MVP) hybrid AGM
October 12, 2025
Below is the text of the 6 written questions submitted at the Medical Developments (MVP) 1pm hybrid AGM in Melbourne on October 10, 2025 and via the Computershare platform. Market cap $70m on AGM day after a better year. See notice of meeting. The proxies were disclosed early with the formal addresses with no protest votes. Sadly, was the only shareholder asking questions.
Q1. It was good to see the share price bounce 11% today on the back of the quarterly result. Thanks to Gordon Taylor for his service as chair. What are the two favourite decisions he made during his time on the board?
Answer: Gordon said he was particularly proud of strengthening the board and just generally having a go globally in a tough game dominated by big gorillas. Watch video of exchange via Twitter.
Q2. Thank you for offering shareholders a best practice hybrid AGM for the fourth straight year. It was also good that you disclosed the proxies early with the formal addresses and there were no material protest votes, including on this remuneration report item. Could you disclose how many of our 8,700 shareholders voted for and against when disclosing the poll results to the ASX.
Answer: Not sure they understood the question at the time but they came through with the goods in these voting results showing that about 227 holders voted by proxy or in the poll. Watch video of exchange via Twitter.
Q3. Could new director Paul Townsend and the out-going chair comment on the recruitment process that led to Paul's appointment to the board. Was a head hunter involved, did the full board interview any other candidates and did Paul know any of our directors or executives before engaging with the recruitment process?
Answer: The chair handed over to Paul, a former Nufarm CFO, who gave an excellent answer and sounds well suited. He didn't know anyone before the recruitment process so it wasn't an inside mates network job. Watch video of exchange via Twitter.
Q4. Could Mark Fladrich please comment on his experience of the recruitment process that will see him succeed Gordon Taylor who now has bigger fish to fry at Sequiris. Did a head hunter support the process and what sort of due diligence did Mark do on the company? Which of our directors, executives and major shareholders did Mark know before engaging with the recruitment process?
Answer: The incoming chair gave a good detailed answer and seems well suited to the chair role. Watch video of exchange via Twitter.
Q5. Australia is currently in the midst of an unprecedented deluge of takeovers that has contributed to listed entities on the ASX dropping by 10% since January 2023 to 2,049 on September 30, 2025. There were a record 27 major takeovers above $100m completed in 2024-25. Why does the chair believe this is happening? There is a clear mis-pricing between public markets and private markets but is there also a problem with the scrutiny and extra regulation of smaller ASX listed companies, which don't benefit from index investing? Does the chair agree this is a problem for the nation, particularly with so few new floats replenishing the ASX ranks? And is there a risk we'll be the next to be gobbled up?
Answer: The chair Gordon Taylor was excellent on this issue saying index investing was a problem and that exiting founders no longer prioritised going public. Watch video of exchange via Twitter, plus these additional comments on the regulatory burden.
Q6. The forever colourful David Williams is our largest shareholder with about 11%. What is our history with him and how do we deal with him as the major shareholder? If he asked to join the board, what would you say? My advice would be to politely decline or request that he nominate someone else to represent his interest. This is not to insult David, who is a very busy man. If I was to run for your board at some point in the future, you should recommend against that as well.
Answer: The chair Gordon Taylor sounded quite fond of David, who had recruited him onto the board in the first place and then happily handed over the chair gig once he saw how good Gordon was. Watch video of exchange via Twitter.
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