For personal use only · 2008. 10. 16. · R l 7 2 ti 260C(4) f th C ti A t dRule 7.2, section 260C(4) of the Corporations Act, and for all other purposes, approval is given for all

Annual General MeetingAnnual General Meeting16 October 2008

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Agenda

• Chairman’s address• Rod Smith’s overview of operations • Questions• Questions• Resolutions• Refreshments

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Chairman’s addressChairman s addressDavid Macoboy

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AMMTEC LIMITED A.B.N. 23 063 332 516

6 MacAdam Place, Balcatta Western Australia 6021 Telephone: (08) 9344 2416 Fax: (08) 9345 4688 E-mail: [email protected]

088208 Page 1

Chairman’s Address to Annual General Meeting I am pleased to welcome you to the 2008 Annual General Meeting. I would like to introduce the Board to you:

Ross Norgard – has been a non-executive director since 1994

Hamid Sheriff is the executive director responsible for operations

Ron Grogan is the technical director and has been with Ammtec since 1996

The managing director – Rod Smith – who will address you shortly

Sharyn Long – is the company secretary and CFO Graham Lloyd is unfortunately unable to be here today. You will have noted from the notice of meeting that he also stands down as a director effective today. I would like to thank Graham firstly for forming Ammtec in 1979 and for his long standing contribution as both the chief executive until 1999 and then as a non-executive director. Although I have not known Graham that long, I am in no doubt that his integrity, service standards and strong work ethic have been firmly entrenched at Ammtec and will remain with the company for many years to come. We are currently seeking another non-executive director. The period since my appointment in August 2007 has been the busiest in the Company’s history and produced the best result on record. Despite the uncertainty in world financial markets, the Board and management remain confident that the core metallurgical and mineral testing business that represents Ammtec will continue to produce strong results for FY09. At this time, we are on track to achieve FY09 guidance released in August. The results for the first quarter are on target and workloads are at unprecedented levels. The acquisition of Marc Environmental Solutions, the specialist engineering business that designs laboratories and supplies and installs dust extraction systems and other equipment which we purchased in February 2008 has been affirmative. Marc has recently won its biggest single contract worth approximately $10million. Marc will soon relocate to new facilities which will increase factory floor space considerably. Ammtec continues with the refurbishment and upgrading of the facilities at Balcatta. The new assay lab has recently been fully commissioned allowing for significantly improved turnaround times on metallurgical testwork. Finally I would like to comment on the sale of our 68.5% interest in PSI. The purchaser who will use the technology in a specific project has experienced some difficulties with financing the acquisition. Due diligence has been completed to their satisfaction and the minority shareholders have waived their pre-emptive rights, making the deal unconditional, but settlement has been deferred until 30 October 2008. The Board has agreed to this extension on the understanding that the purchaser will have resources available to complete settlement by that date.

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Overview of OperationsOverview of OperationsRod Smith

Managing Director

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Revenue Growth & Forecast

16%

37%

10%

44%

50%

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FY08 Revenue by Commodity

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NPAT Growth & Forecast

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C ti d I tContinued Improvement

Old flotation lab New laboratoryFor

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C ti d I tContinued ImprovementOld New

Recent Initiatives

Flotation lab 4 machines 14 machines

New assay lab 400m2 2,000m2

Sample prep area NANew capability

4t/hr

50m2 >1,000m2

Pilot plant facilities 1 pilot at a time300kg/hr

4 pilots at a time2t/hr

QEMSCAN equipment NA New capability

Ongoing Initiati esOngoing Initiatives

Increase assay capacity+50% XRF capacity

New TGA capability for LOI test+100% fusion capacity

Gold lab +200%

Comminution +300%

Hydromet relocation and expansion +400%y p

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Building additions & upgradesu d g add t o s & upg ades

6 MacAdam Pl (Before refurbishment) 6 MacAdam Pl (After refurbishment)

105 MacAdam Pl (New pilot plant & laboratories building) 2 MacAdam (New assay laboratory)

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QuestionsQuestions

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ResolutionsResolutions

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Resolution 1

Approval of Remuneration Report – Non Binding Vote

That, the Company’s Remuneration R t f th d d 30 J 2008Report for the year ended 30 June 2008 (set out in the Directors’ Report) be adopted

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Resolution 1 (continued)

Proxies For 4,097,870

Proxies Against 175,505

P i Ab t i d 460 789Proxies Abstained 460,789

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Resolution 2

Employee Share Plan (“ESP”)

That, for the purposes of Exception 9 of ASX Listing , p p p gRule 7.2, section 260C(4) of the Corporations Act, and for all other purposes, approval is given for all shares

Sissued under the Ammtec Employee Share Plan which is constituted and administered in accordance with the Terms and Conditions of the Ammtec Limited EmployeeTerms and Conditions of the Ammtec Limited Employee Share Plan which are tabled by the Chairman at the Meeting and marked ‘A’ for identification purposes.g p pFor

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Resolution 3

Employee Share Option Plan (“ESOP”)

That, for the purposes of Exception 9 of ASX Listing R l 7 2 ti 260C(4) f th C ti A t dRule 7.2, section 260C(4) of the Corporations Act, and for all other purposes, approval is given for all options granted under the Ammtec Employee Share Optiongranted under the Ammtec Employee Share Option Plan which is constituted and administered in accordance with the Terms and Conditions of the Ammtec Limited Employee Share Option Plan which are tabled by the Chairman at the Meeting and marked ‘B’ f id tifi ti‘B’ for identification purposes.

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Resolution 4

Options Granted to Rod Smith

That, conditional upon Resolution 3 being passed, for th f ASX Li ti R l 10 14 d f llthe purposes of ASX Listing Rule 10.14, and for all other purposes, approval is given for the grant of up to 600 000 options to Rod Smith an Executive Director of600,000 options to Rod Smith, an Executive Director of the Company, under the Ammtec Limited Employee Share Option Plan, on the terms described in the pExplanatory Statement which forms part of this Notice of Meeting.For

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Resolution 5

Options Granted to Hamid Sheriff

That, conditional upon Resolution 3 being passed, for th f ASX Li ti R l 10 14 d f llthe purposes of ASX Listing Rule 10.14, and for all other purposes, approval is given for the grant of up to 300 000 options to Hamid Sheriff an Executive Director300,000 options to Hamid Sheriff, an Executive Director of the Company, under the Ammtec Limited Employee Share Option Plan, on the terms described in the pExplanatory Statement which forms part of this Notice of Meeting.For

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Resolution 6

Options Granted to Ron Grogan

That, conditional upon Resolution 3 being passed, for th f ASX Li ti R l 10 14 d f llthe purposes of ASX Listing Rule 10.14, and for all other purposes, approval is given for the grant of up to 300 000 options to Ron Grogan an Executive Director300,000 options to Ron Grogan, an Executive Director of the Company, under the Ammtec Limited Employee Share Option Plan, on the terms described in the pExplanatory Statement which forms part of this Notice of Meeting.For

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RefreshmentsRefreshments

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Documents

For personal use only · 2008. 10. 16. · R l 7 2 ti 260C(4) f th C ti A t dRule 7.2, section 260C(4) of the Corporations Act, and for all other purposes, approval is given for all