Vulcan Steel outlines 2025 annual meeting agenda, leadership changes

Vulcan Steel Limited will hold its 2025 annual meeting on Friday, October 31, 2025, at 1:00pm NZT (11:00am AEDT) at the offices of MUFG Corporate Markets in Auckland, and virtually via an online platform. Key agenda items include the re-election of Adrian Casey as a director and the election of Rhys Jones as a director, with Rhys Jones proposed to succeed Russell Chenu as board chair from January 1, 2026. Shareholders will also consider resolutions for the grant of performance share rights to Gavin Street, the incoming managing director and chief executive officer, and Adrian Casey, the chief operating officer.

The proposed grant for Gavin Street includes 390,543 performance share rights under Vulcan’s FY26 long-term incentive plan, valued at AU$2,230,000. Adrian Casey is proposed to receive 126,624 performance share rights, equivalent to NZ$780,000. Both grants are subject to service and performance vesting conditions, including Relative Total Shareholder Return (TSR) and Return On Capital Employed (ROCE) over a three-year performance period from July 1, 2025, to June 30, 2028.

Shareholders are encouraged to submit proxy votes by 1:00pm NZST (11:00am AEDT) on Wednesday, October 29, 2025, with virtual attendance also available. Questions for the board can be submitted in advance by the same deadline.