Good afternoon. I'm Matthew Quinn, Chairman of Class Limited, and it is my pleasure to Welcome you to our 2021 AGM. It's now 3:00 P.M., and as the necessary quorum is present, I declare the meeting open. I would like to begin by introducing our directors, Catherine Guydes, Nicolette Rubinsztein, Rob Bazzani, and Andrew Russell, who is also the CEO. I would also like to welcome Conor Farley from Grant Thornton, our auditors, who will be available to answer any questions on the audit. Information about how to use the online platform, including how to vote and ask questions, is available on the online platform guide, which is on our website. If you haven't already done so, please register to vote now. Once you have registered, your voting card will appear, and you may cast your vote at any time before the end of the meeting. Bear with me a moment. Bit of a technology glitch here, so just bear with me. We will take questions from shareholders on all resolutions and general business using the online platform and via the telephone service. You can ask a question after you have registered to vote. Questions submitted prior to the meeting are on the online platform. Not all questions are guaranteed to be answered during the AGM, but we will do our best to answer as many as possible. If your question has been answered and you would like to exercise your right of reply, you can do so by submitting another question. Today's news for Class is obviously dominated by the announcement that Class and HUB24 have entered into a scheme implementation deed under which HUB24 has agreed to acquire all of the issued shares in Class by way of a recommended court-approved scheme of arrangement. The combined entity will create 1 of Australia's leading providers of platform, data, and technology solutions to the wealth and self-managed super fund industries. Under the terms of the scheme implementation deed, Class shareholders will receive 1 HUB24 share for every 11 Class shares and AUD 0.10 in cash for every Class share. In addition, Class shareholders will be eligible for the FY22 interim dividend of up to AUD 0.025 per share. The Class board of directors has carefully considered the proposal and believes it represents compelling value for Class shareholders. Based on HUB24's closing share price on Friday, the offer is worth AUD 3.11 per share, a significant premium to our recent share price. Our board unanimously recommends that you vote in favor of the transaction at a special meeting expected to be held around February 22, 2022, in the absence of a superior proposal and subject to an independent expert concluding that the transaction is in the best interest of Class shareholders. Even though this AGM is focused on the results for last financial year, I'm happy to use today's meeting to answer any questions you may have on the announcement. I'm pleased to report that FY 2021 was a successful and transformational year for Class, marking the completion of the second year of the 3-year Reimagination strategy launched in 2019 by Andrew Russell. The strategy is being well executed and the board is very satisfied with progress. You will explain the results shortly. During FY 2021, Simon Martin retired as a director due to health reasons. We thank Simon for his contribution to Class and wish him all the best in his recovery. Catherine Guydes has advised the board that she will not be seeking re-election and will retire as a director at the close of the AGM. Cat joined Class prior to our IPO in 2015. Her skills in technology, sales, and early-stage startup companies have been extremely valuable. We thank Cat for her contribution to Class. We wish her well in her future endeavors. I would like to thank all Class employees and my fellow board members for what we have achieved together in FY 2021, particularly given the ongoing challenges of remote working. Thank you to our shareholders for your ongoing support. I will now invite Andrew to provide an overview of our FY 2021 performance and some insights on our progress so far in FY 2022. Andrew. Thank you, Matthew. Good afternoon, ladies and gentlemen, and thank you for joining us for the 2021 AGM. On behalf of the Class team, it is pleasing to stand here today at the Class AGM with the business energized by the ongoing transformation success and importantly, performing well to our financial targets. The key messages to our shareholders today are simply these. Firstly, despite the announcement today regarding the proposed scheme of arrangement with HUB24, we remain laser-focused on maximizing business performance and developing opportunities for future revenue and profit growth. This is clearly in the best interest of the ongoing shareholders, irrespective of whether or not the scheme is approved given the script nature of the transaction. Class continues to execute well to our Reimagination strategy with both accelerated financial and operational results. Class continues our successful track record of buying and integrating acquisitions well. We are realizing good organic growth with these acquisitions as we scale the Class NowInfinity platform and grow our market leadership. Our technology and product investment has been fast-tracked and is delivering improved operating efficiency. Consequently, the platform rejuvenation program is on track, the investment as a percentage of revenue has peaked and will continue to trend downward as we scale. Class is well positioned for ongoing sustainable revenue and TAM growth in FY 2022 and beyond. We set our revenue and EBITDA targets for FY 2022 in August. The business continues to track to both 18% revenue growth and 19% EBITDA growth for FY 2022. Turning to recap our FY 2021 financial results. The business boldly set out our key financial targets for FY 2021. The business has delivered to those targets. Our highlights are: record operating revenue and other income of AUD 54.9 million, up 25% and ahead of guidance. Roll forward revenue of AUD 59.8 million, up 21.5%. Underlying earnings before interest, tax, depreciation and amortization at AUD 21.9 million, up 15%. Maintained an underlying EBITDA margin of 40%, in line with guidance. Class has strong free cash flow of AUD 10.6 million. The balance sheet is very healthy, and free cash flow from operations is increasing as the business grows and achieves economies of scale. We've invested AUD 16.9 million over the past year to progress our next generational technology and product development capability vision. The customer base has grown by 123%, and the board declared a fully franked dividend of AUD 0.025 for second half FY 2021. In summary, the financial 2021 financial results are solid, and as importantly, we are transforming and scaling Class in line with our three-year plan. The transformation strategy has been to grow our new revenue and TAM, scale the business, and at the same time improve operating capability. We have four areas of focus. Maintaining SMSF product leadership and launching Class Trust. 2. Accelerate growth through strategically aligned acquisitions. 3. Growing the number of wealth accounting customer relationships. 4. Rejuvenating the technology stack for next generation world-class capabilities. In FY 2021, we have shown our ongoing commitment to invest in Class Super to ensure it remains a multi-award winning and market leading SMSF administration software. Class has now diversified and growing product revenue portfolio in FY 2021 and beyond. The launch of Class Trust is a significant milestone for the Reimagination strategy. Our market research has been validated that there is a key pain point for trust administration, as there was for SMSF administration for our customers. Our strategy has been to sell through to our customer base, who already have trust advisory practices. We have now grown our Class Trust customer numbers [audio distortion], the trust software in their businesses over the first quarter of FY 2022. We remain pleased with the trust product launch results to date and the continuing positive feedback from our customers. Our acquisitions are a key step involving Class to an integrated multi-product offering to our professional services customers, delivering and diversifying Class revenue mix. The acquisitions of NowInfinity, Smartcorp, and ReckonDocs have been integrated under the Class NowInfinity banner. The acquisition of Topdocs announced in August will further enhance our market leading position. The integration of Topdocs is meeting our expectations and meeting our integration timelines. Our acquisitions, all our acquisitions, have been targeted and well executed in line with our strategy to fast track our market entry into the corporate compliance by buying businesses that are profitable and EPS accretive. We now have over 7,800 active customers and product relationships with 81 of the top 100 Australian accounting firms. A core pillar of our transformation was to invest in our product and technology capability. Our vision is to build a competitive moat by ensuring Class is a next generational technology platform, product pipeline and business enablement to support our transformation. To achieve our technology advancement, we have been focused on upgrading our Class technology platform and enhancing our product features to maintain our SMSF product leadership, develop Class Trust, and to integrate the NowInfinity product deeper into the Class business. Over the past two years, we have invested in the core platform, invested to build a world-class product development capability, invested in business enablement to allow Class to scale at speed. The key call-outs with respect to our investment in product and technology are: our product and technology investment as a percentage of revenue is peaked and will now trend downwards as we scale. Furthermore, investment will be reallocated from platform to product development in the years ahead. Turning to our strategy and outlook. We are now turning our thinking to Horizon Two, given our progress and success to date. We're exploring opportunities to further grow our TAM in FY 2023 and beyond via new product categories, new adjacencies, and offshore markets. We will communicate a clear and connected business development vision for FY 2023 and beyond as we complete our opportunity assessments and prioritization over the coming year. We intend to present our Horizon Two strategy day at our Investors Day in May 2022. Our revenue target for FY 2022 is a combination of ongoing existing customer value, plus roll forward revenue derived from growth in our new customers, plus the full year revenue contributions from Smartcorp and ReckonDocs acquisitions. The Topdocs acquisition part revenue FY 2022 revenue contribution of AUD 3 million and organic revenue initiatives. We confirm our FY 2022 revenue target of AUD 65 million, which is an 18% uplift from our FY 2021 results. We confirm our EBITDA target of AUD 25 million, which is a 19% [audio distortion] execution scorecard. Our FY 2021 financial results are solid and exceeded our revenue targets. We have a successful acquisition track record. We now have market leadership in all our product areas, and that also puts us in a position of strength. We will continue to seek acquisitions that are strategically aligned to our vision. We have outlined our revenue and EBITDA targets for FY 2022 with PCP uplifts of 18% and 19% respectively. We are positioned well to achieve those targets. Finally, the Class business is very well-placed for value and sustainable revenue growth in FY 2022 and beyond. We have realistic and achievable growth ambitions, which include material TAM expansion opportunities in FY 2023 and beyond. I would like to thank all Class employees and my fellow board members for what we have achieved together in FY 2021 and indeed in the past two years. Thank you to all our shareholders for your ongoing support of Class and the Reimagination strategy. The future certainly is very exciting as our vision comes alive. I will now hand back to Matthew for the formal business part of the meeting. Thank you, Andrew. We have six resolutions to be voted on today. My re-election, approval of the remuneration report, grant of performance rights and deferred rights to Andrew Russell, provision of financial assistance by the Topdocs companies, reinsertion of proportional takeover provisions in the constitution, and amendments to the constitution. All resolutions are explained in the notice of meeting, which I will take as read. Voting will be via a poll, the poll will be open until the end of the meeting. Poll results will be placed on our website and lodged with the ASX after the meeting. As you can see on the screen, the proxy results so far are unanimously in favor of all resolutions. I now invite you to ask any questions you wish to raise in respect of any of the resolutions and any questions in relation to the proposed scheme of arrangement with HUB24. Any questions regarding my re-election will be answered by Nicolette Rubinsztein. Operator, are there any questions? Chairman, we have no phone questions. Without any questions, we'll wrap the meeting up. Thank you for your interest in the company, and I will now bring it to a close. Thank you.
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