Energy Mad : Chairmans Address 2016 Annual Meeting

Chairman's Address - 2016 Energy Mad Annual General Meeting

Welcome to the Annual General Meeting for Energy Mad.

The key point regarding Energy Mad, its health and its performance is that at present we are very much a work in progress. I am well pleased with the progress made given the significant changes which have been introduced particularly over the last nine months.

The theme of changes has been ensuring that Energy Mad has conventional board and management structures. Those structures support a stronger, more robust platform from which the innovative elements in what we do can proceed on a profitable basis.

Progress to date suggests that we have made a modest operational turnaround - that is apparent in the graphs which Dr Chris Mardon will show you later - and prospects for continuing in that direction are good.

The drive and the changes we have made look to improving focus on our core business. This is what led to Dr Mardon stepping down from the Board to increase the intensity of his focus in our Australian market and to us altering our relationship with New Zealand Direct (now My Eco) where we now seek to do business in New Zealand as a wholesale level provider to our partner My Eco.

This process has been painful in places if for no other reason that all change creates uncertainty. Nonetheless we are close to the end of the changes and now look to reap rewards.

I should like to thank my fellow Board of Directors who have been most supportive in the changes the company has had to initiate. I would pick out for thanks Dr Chris Mardon who has been unflagging in his energy and support for a number of the initiatives and this over a period when we did not have a General Manager.

Thanks are also due to SuperLife, our institutional shareholder and in particular Michael Chamberlain who is ever ready with support and suggestions.

Other staff are due thanks as well. All change is unsettling and our staff have been supportive and energetic in their enthusiasm.

Finally, as ever nothing is possible without shareholder support and for that we continue to be grateful.

I see a positive outlook for Energy Mad. Naturally in the current environment we are cautious - anything else would not be prudent. I am confident that the improvements in our business process and infrastructure are capable of delivering the gains which will be seen when the company lives up to its full potential.

Thank you.

Brent Wheeler Chair