Board Change • Feb 04
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Deputy Chair & Independent Non-Executive Director Michael Wachtel was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 24
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Deputy Chair & Independent Non-Executive Director Michael Wachtel was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 공시 • Oct 22
Pact Group Holdings Ltd Announces New Board Appointments Pact Group Holdings Ltd. announced effective 22 October 2024: the appointment of Mr. Raphael Geminder as Executive Chair and the appointment of Mr. Michael Wachtel as Deputy Chair. The Board believes that expanding Mr. Geminder's role to be an Executive Chair is in the best interests of the Company. In particular, the Board is of the view that Mr. Geminder brings strategic value to all aspects of the Pact business. Pact will continue to benefit from Mr.Geminder's long- standing experience of the Company's operations and business relationships as he formally expands his role to include an executive remit working alongside the CEO. The Board is conscious that there are a number of related party dealings between Pact and its controlled entities (the Group) and interests associated with Mr. Geminder. In addition, the Board recognises the potential for perceived or actual conflicts of interest to arise as a result of the recent appointment of Nick Perkins and Tristan Smith as Non-executive Directors (nominated by the Company's majority shareholder). Pact has robust systems in place to monitor and govern conflicts and related party transactions and to ensure compliance with the Corporations Act 2001 (Cth). With Mr. Geminder's appointment as Executive Chair, the Board has determined that independent Non-executive Director, Mr. Michael Wachtel, be appointed as Deputy Chair. Mr. Wachtel will fulfil the role of Chair when considering matters in which Mr. Geminder has an actual or perceived conflict of interest. Role type for Raphael Geminder is Part time. Key Responsibilities include: Guide Company strategy, oversee governance, and lead the Board. Focus on Company vision and values. Identify growth, M&A, partnership and alliance opportunities. Benchmark industry performance. General communication with key stakeholders government, industry, investors, Pact employees. Key Chair to Chair/CEO customer relationship maintenance. Oversee the CEO's performance and guide decisions. Indirect authority over operations. 공시 • Sep 25
Pact Group Holdings Ltd Announces Appointment of Non-Executive Directors Pact Group Holdings Ltd. announced, effective 25 September 2024, the appointment of Mr. Nicholas (Nick) Perkins and Mr. Tristan Smith as Non-executive Directors of the Company. Perkins and Smith are nominees of Kin Group Pty Ltd. (Kin Group), a company which is ultimately controlled by the Geminder family. The Company's Chair, Raphael Geminder, and associates (including Kin Group, Salvage Pty Ltd. and Bennamon Industries Pty Ltd) hold a relevant interest in Pact of 88.04%. Perkins is the Chief Executive Officer of Kin Group. Kin Group is a diversified, global, long-term focused investor with offices in Melbourne and New York. Mr. Perkins has held a variety of roles within Kin Group, and its subsidiary businesses, for over 19 years, including 10 years as the General Counsel of Pact Group. Mr. Perkins serves on the Board of The Reject Shop and is a member of their Audit & Risk Committee and People & Culture Committee. He also holds a number of advisory and board positions across Kin Group's portfolio investments. Mr. Perkins holds a Bachelor of Arts and Bachelor of Laws from the University of Melbourne and is a Graduate Member of the Australian Institute of Company Directors. Smith is a Chartered Accountant and the Chief Financial Officer of Kin Group. Smith joined Kin Group in 2019 after nearly 20 years working globally with Ernst & Young and holds a number of advisory and board positions across portfolio investments spanning Kin Group's packaging, food and property portfolios. Mr. Smith holds a Bachelor of Commerce degree and a Master of Commerce degree from Macquarie University and is a member of Chartered Accountants Australia and New Zealand. Following the appointments, the Board comprises six directors, including two independent Non-executive Directors, three Non-executive Directors and one Executive Director. Reported Earnings • Aug 16
Full year 2024 earnings released: EPS: AU$0.22 (vs AU$0.019 loss in FY 2023) Full year 2024 results: EPS: AU$0.22 (up from AU$0.019 loss in FY 2023). Revenue: AU$1.80b (down 7.4% from FY 2023). Net income: AU$3.74m (up AU$10.3m from FY 2023). Profit margin: 0.2% (up from net loss in FY 2023). Revenue is forecast to stay flat during the next 2 years compared to a 5.2% growth forecast for the Global Packaging industry. Over the last 3 years on average, earnings per share has fallen by 42% per year whereas the company’s share price has fallen by 43% per year. 