Murray Cod Australia (MCA) AGM 2025 summary

Opening remarks and agenda

• Chair welcomed shareholders in person and online, confirmed quorum, and opened the meeting.

• AGM chaired by Brett Paton, with formal business and voting procedures outlined for shareholders and proxyholders.

• Agenda included six formal resolutions, with voting conducted by poll and MUFG Corporate Markets as scrutineer.

• Instructions provided for Q&A participation both in-person and online.

Financial performance review

• FY25 NPAT of $8.6m, a turnaround from ($6.2m) in FY24; revenue grew 2.6% to $10.9m, constrained by fish availability now resolved.

• Record biological asset value of $67.8m (+111% YoY) and headline EBITDA of $18.61m (+808%).

• AUD 17 million equity raised, strengthening the balance sheet for harvest, infrastructure, and working capital.

• 3.1 million fish at June 30, average weight over 800g, up from 300g the previous year.

• Operating cashflow remained negative due to ongoing biomass investment.

Board and executive committee updates

• Board composition discussed, with recent appointment of Steven Chaur for sales and distribution expertise.

• Brett Paton (Chairman), Ross Anderson (CEO/Executive Director), Mathew Ryan (Executive Director), Roger Commins (Non-executive Director), and Steven Chaur (Non-executive Director) highlighted for their expertise and roles.

• Executive team includes two women; company emphasizes merit-based appointments and gender diversity in workforce.

• Katherine Bryar appointed as Chief Sales and Marketing Officer, joining in January.