todays announcements for the discerning investor of tomorrow.
I can see the paper headlines as I type "DKN get the money & now watch this baby go." With all the strife in world markets Deakin financial advisors will be in demand by those desperate to find a safe haven as money is no longer safe under the bed. The silverfish even got my mint condition $1 note.
Could see DKN head towards 30c now that the price has been kept around the 21c & the options have to be exercised or the underwriter 'pays up'.
Chairman`s Address to Shareholders
DEAKIN FINANCIAL SERVICES GROUP LIMITED 2002-06-21 ASX-SIGNAL-G
HOMEX - Melbourne
+++++++++++++++++++++++++ Mr Rob Hunwick, Executive Chairman, Deakin Financial Services Group Limited delivered the following address to the Company's General Meeting earlier today.
"This is a very important moment for Deakin. If approved, these resolutions will mean that Deakin has raised approximately $6.1 million after costs in the last 3 months. In turn this makes Deakin financially strong and enables it to embark on its expansion plans.
A quick summary of what has been achieved since 1 January includes:
* 111 financial advisers signed under our new Proper Authority and Insurance Broker agreements. These agreements involve fairer and more appropriate remuneration arrangements for advisers. Deakin believes it offers the most cost-effective deal for independent financial advisers in the marketplace.
* Professional Indemnity insurance successfully negotiated in a difficult market.
* Our management team has been substantially enhanced by the recruitment of Graeme Hyland, National Sales and Marketing Manager, and Dan Parry, General Manager of Adviser Services. These two executives have vast experience and it is testimony to out emerging status and the opportunities that Deakin can offer that they have joined Deakin when their skills are widely sought after.
* Formed a project team to develop our new Master Fund product. An announcement as to the direction we will follow in this regard is expected by end July. We expect it to involve the latest technology with flow-on savings and efficiency.
* Recruitment of our first advisers in Queensland. We expect to follow this up with substantial numbers of recruits in both Queensland and NSW in coming months. With changes in legislation and problems for many acquiring professional indemnity insurance, there are many advisers now seeking a network like Deakin to join. Consequently, we have set our target at 200 advisers by June 30, 2003.
With this meeting behind us, I believe Deakin is well placed to develop into a significant distributor of financial services. It has the executive talents, the opportunity and now the capital; these are the key ingredients to success in this market."
M Simari COMPANY SECRETARY
HOMEX - Melbourne
+++++++++++++++++++++++++ In accordance with ASX Listing Rule 3.13.2, Deakin Financial Services Group Limited advises that each of the resolutions put to the General Meeting of the Company held on 21 June 2001 were passed. The necessary majority passed each of the resolutions put to the General Meeting on a show of hands.
Proxy votes held in relation to each resolution were as follows:
RESOLUTION PROXY PROXY PROXY DISCRETION- NO VOTES FOR VOTES VOTES TO ARY AGAINST ABSTAIN PROXY VOTES
1 Approval of Issues of 10,726,884 62,330 Nil 2,086,620 Shares and Options
2 Approval pf Issue of 10,726,884 62,330 Nil 2,086,620 Shares and Options to Falkiners Stockbroking Ltd
3 Approval of Issue of 9,578,684 64,330 1,146,200 2,086,620 Options to R E Hunwick
4 Approval of Issue of 7,724,884 64,330 3,000,000 2,086,620 Options to M G Hills
5 Approval of Issue of 10,724,884 64,330 Nil 2,086,620 Options to M A Simari
R Hunwick EXECUTIVE CHAIRMAN
DKN Price at posting:
0.0¢ Sentiment: None Disclosure: Held