Ann: MEETING: XRO: Xero Annual Meeting 2012 - Out

• Release Date: 27/07/12 10:30
• Summary: MEETING: XRO: Xero Annual Meeting 2012 - Outcomes
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XRO
27/07/2012 08:30
MEETING

REL: 0830 HRS Xero Limited

MEETING: XRO: Xero Annual Meeting 2012 - Outcomes

MARKET RELEASE
Xero 2012 Annual Meeting

27 July 2012

The following resolutions put to shareholders at the Xero Annual Meeting
yesterday afternoon were passed by shareholders.

o Directors were authorised to fix the remuneration of the Auditors;
o Graham Shaw, Sam Morgan and Rod Drury, who were standing for re-election
due to retirement by rotation, were re-elected;
o Maximum aggregate annual remuneration that can be paid to all non-executive
directors was increased from $250,000 to $500,000; and
o ?The Employee (USA) Share Option Scheme was approved.
?
All resolutions were decided by a show of hands. ?

As required by NZX Listing Rule 3.3.1B(a), the Xero Board has determined that
the following directors are independent, as defined by NZX Listing Rule
1.1.2:

Rod Drury - Not Independent
Sam Knowles - Independent
Sam Morgan - Not Independent
Graham Shaw - Independent
Craig Winkler - Not Independent

Linda Cox
Company Secretary
End CA:00225374 For:XRO    Type:MEETING    Time:2012-07-27 08:30:28