AFA-SA Annual Reports

2024 AFA SA Key Appointments

Introduction

Traditionally, AFA-SA has only provided basic annual Presidents, Treasurers and Secretary Reports at the Associations AGM. For the first time, AFA-SA has produced a more complete and wholistic Annual Report intended to report not just to its members but also our stakeholders, partners and broader community what our organisation has achieved and done over the 2023-2024 reporting period. The 2023-24 Annual Report will be released for the 2024 Annual General Meeting on 12 October 2024. It will also be emailed to all AFA-SA members, published on our website and emailed to AFA-SA partners and stakeholders. We intend that AFA-SA will produce an Annual Report in this format in the future.

The Air Force Association (South Australia) is: –

President's Report

I am privileged to have the opportunity to serve the Air Force Association SA Div Inc. this year and it has been very humbling to work across the veteran’s community for our Air Force veterans. It has been a steep learning curve for me to learn about, understand and appreciate the complexities, endurance and sacrifices made by this dedicated Veterans Community for one single purpose “For the veterans”. South Australia is fortunate that our ESOs are friendly, helpful and can collaborate in one united voice to serve our Veterans and it is the only State that can boast a “SA Veterans Consortium” to represent and safeguarding the interest of all our Veterans in SA.

I’m grateful for the continuous advice, guidance and counsel from the Air Force Association State Councilors and members throughout the year to make my task of serving our membership easier. The State Councilors have been a pillar of support and every State Councilor cares for the interest and wellbeing of the members and veterans community. On behalf of the Association, I extend our thanks and appreciation to our Councilors retiring this year and hope you will continue to support the Associations’ Vision and Mission into the future.

I’m grateful for the continuous advice, guidance and counsel from the Air Force Association State Councilors and members throughout the year to make my task of serving our membership easier. The State Councilors have been a pillar of support and every State Councilor cares for the interest and wellbeing of the members and veterans community. On behalf of the Association, I extend our thanks and appreciation to our Councilors retiring this year and hope you will continue to support the Associations’ Vision and Mission into the future.

Our Association needs to be invigorated by welcoming our current serving veterans if we want the Association to continue into the future. We want to see the Elizabeth/Salisbury Branch membership expand, given that we are next door to RAAF Edinburgh, and we welcome all RAAF Edinburgh aviators to be part of the Air Force Association family.

The Association has been a leader in commemorative services and in partnership with RAAF, SA Aviation Museum and other ESOs by collaboration, support and collegians. The Air Force Association has a long history of supporting the Combined Services Mess at Torrens Parade Depot in the provision of rooms for events benefitting the veteran’s community in SA.

Our vision is to ensure the needs of the Air Force Family are met and that the Air Force Legacy is assured and to guarantee growth we must connect with the younger veteran. Our Association consists of a National AFA Board and AFA Federation Council overarching the AFA State Divisions. In SA, our Association is made up of the following branches Mitcham, Elizabeth/Salisbury and Ubon commemorating our military past, honouring those who served and those who have paid the ultimate sacrifice.

During past years we have been busy in collegiate and community partnership with the veteran’s community in celebrating Air Force Centenary and Epic Flight Centenary, been a recognized leader in Air Force Commemorations. We are continuing to develop relationships and partnerships with key stake holders by providing camaraderie to veterans.

The Association is constantly keeping our community informed through our quarterly newsletters and regular features posted in our face Book page “AFA-SA”. The Association can be contacted through our email contact This email address is being protected from spambots. You need JavaScript enabled to view it. This can be largely attributed to the dedication and hard work of our Vice President, Greg Weller.

The Association has been fortunate to negotiate an extension of our lease at TTD and very encouraging for good and professional service support from the site management team at Department for Environment and Water (DEW). The Link Trainer, an instrument flight simulator used by the Air Force Cadets sponsored by the Association was discontinued and DEW will exhibit it as a static heritage display at TTD. The Association will assist DEW to coordinate and promote the Link Trainer to visitors to TTD and where possible contribute aviation memorabilia to enhance the heritage aspect of the Link Trainer

The challenge this year is the possible loss of the premises at Mitcham Branch due to the possible demolition of the Club Rooms proposed by the Local Council Land Management Plan which will mean the loss of the premises by Mitcham Branch. There may be light at the end of the tunnel as Mitcham Council has committed to finding alternative accommodation.

This year has been an active year for the Association involving in many collegiate events by RSL, Legacy and ESOs and we are grateful to be a part of the ESO community.

I’m pleased that the Association is in a sound financial position as reported in the Treasurers’ Report. In conclusion, it is important to note that the Association is active and collaborating and supporting the Veterans Community at major commemorative events

The Association would like to thank Her Excellency the Honorable Frances Adamson AC, Governor of South Australia our Association Patron and Mr Rod Bunten for their patronage at our major Commemorative Events

AIRCDRE Adrian Maso AM, CDR AWC and Senior Air Force Representative (SA) for the RAAF partnership and support in facilitating commemorations and visits by Air Force Association veterans to RAAF Base Edinburgh. It is without doubt that our Aviators from RAAF Base Edinburgh deserve the accolade and has been the main focus behind the scenes supporting and organizing commemorative events throughout the year.

The Association extends its appreciation to the Australian Air Force Cadets for their contribution in participating in many commemorative events organized by the Association.

Thank you to fellow Councilors, our Branch Executives and members for your loyalty and dedication to the Association and especially Annette Moore for her efficient management of our office administration in the office and coordinating events for the Association.

Who We Are

Introduction

The Air Force Association is the peak veterans support organisation for current and former Air Force members and their families in Australia. It is recognized by Government and other veteran’s organisations as the representative organisation for ex Air Force members, with a primary goal of providing assistance to fellow members.

The AFA is a federation of seven separate Divisions, one in each state and the ACT overseen by a governing National Board of the Air Force Association. As one of the oldest veteran organisations, the AFA has been influential in advocating for ex-RAAF members’ needs resulting from service in World War 1, World War 2, post war Southeast Asia, peacekeeping operations and in more recent years, the high operational tempo of today’s modern Air Force.

With a Headquarters based at Torrens Parade Ground, the AFA SA is uniquely positioned to interact with other veteran’s organisations, advocate the South Australian Government and coordinate Air Force ceremonies at the Air Force Memorial located at Torrens Parade Ground.

Our Background

The Air Force Association in Australia is as old as the Air Force. Its origins lie in ex-WW1 veterans who served in the Australian Flying Corps (AFC) and wanted to keep in touch and provide assistance to their colleagues and their families when needed.

The Victorian AFC Association was formed in 1920, and other state AFC Associations quickly followed. With the establishment of the RAAF and the large number of RAAF members needing support after World War 2, the Associations evolved but still focused on supporting members and their families. The South Australian Association formed in 1930 and has continued to serve ex-Air Force members and their families ever since.

AFA SA Objectives / Purpose

The AFA-SA Constitution identifies Objectives and Purpose of the AFA as:

• Advocate for and support the well-being of all members of the Air Force Family
• Support the Air Force, its history, heritage and traditions,
• Honour the life, service and memory of Air Force veterans

The AFA SA considers these objectives to be as relevant today as they have always been and it is incumbent on the AFA SA to increase the awareness of the AFA as a body that will stand for and support the Air Force Family including Past and Present serving members and their Families.

Branches

In South Australia, the AFA SA Division comprises three branches committed to supporting the welfare of current and ex-serving Air Force members and their families and ensuring the legacy of their service for generations to come:

• Mitcham
• Elizabeth Salisbury; and
• Ubon

In addition to the branches, AFA-SA members also exist that are not attached to a specific branch but are a member of the ASA SA Division, these members are identified above as being attached to the AFA-SA Headquarters.

Patron

The Air Force Association (South Australia) is honoured to have as its patron Her Excellency, The Honourable Frances Adamson, AC Governor of South Australia, who regularly attends our commemorations and activities.

Membership

In South Australia, the Air Force Association has traditionally enjoyed a large membership particularly in the 1950’s to 1980’s. As has been evident with many returned service organisations, in recent decades, the AFA-SA has been experiencing an ongoing decline in membership over recent few decades. This reflects various factors including aging population, lack of new and younger veterans joining the organisation and growing number of veterans support organisations in the community. In the last two years, AFA-SA has closely look at the decline and how to address it. In the last year, the decline in membership has stopped and the organisation has effectively grown from 182 to 198members. The table below identifies the members and their respective branches.

AFA-SA Membership by Branch: 2018 to 2024

There is a recognized need to expand our membership with serving members and younger veterans.

Workforce

AFA-SA has one single part-time paid position being the Administration Officer at our offices at Torrens Parade Ground. This position is critical to the running of the association and our collaboration with the Combined Ex-Services Mess and co-tenants at Torrens Parade Ground.

The association is also equally critically dependent upon its volunteer workforce but sadly lacks quantifiable data on this aspect. The State Council has recognized the need to better capture this data from its volunteers to better understand and more importantly, demonstrate how dependent our association is on volunteers and how hardworking they are.

The State Council and State Executive

The State Executive

Defined in the AFA-SA Constitution, the State Executive comprises the President, the two Vice-Presidents, the Treasured and the Secretary and is responsible for the efficient administration of the day-to-day business and affairs of this Association, and for carrying into effect the decisions and directions of the State Council. During the last 12 months, the State Executive has met monthly in between State Council meetings to synchronise, align and manage AFA-SA business.

The State Council

Defined in the AFA-SA Constitution, the State Council comprises the President, the two Vice-Presidents, the Treasured and the Secretary and five State Councillors. The State Council have met monthly over the reporting period.

In February, the State Council appointed two members, Mr Steve Fielder and Ms Suzie Hall, to two vacant State Council positions.

The current State Council has a good mix of current/reservist, RAAF veteran and Air Force Cadets knowledge, experience. and background. However, it needs greater diversity in age, gender and ethnicity.

2024-2030 Strategic Plan on a Page

Mission, Vision, Values and Priorities

A strategic planning workshop in February was used to review and update AFA-SA’s Strategic Plan on a Page comprising our Mission, Vision, Priorities, conduct a SWOT analysis of the organisation and develop AFA-SA Values. Minor changes were made to the Mission and Vision and Priorities.

The workshop set the basis for the new State Council and development of new projects and initiatives for the next year. The workshop included Branch representatives and State Council members.

The association has reaffirmed its tagline of “Committed to our Air Force veterans and their families.”

The intent of the Strategic Plan on a Page is to guide the State Council on all initiatives and programs to ensure the organisation is focused on priorities that map to its core role and deliverables.

Air Force Association (South Australia) Values

In late 2023, the State Executive identified that the Air Force Association (South Australia) did not have a set of defined values and proposed that there would be value in developing organisational values to help guide the organisation and its members in how we act individually and as an organisation.

The issue was discussed at length at the Strategic Planning workshop where various options were considered. The workshop reviewed the values of Defence, veterans and other organisations and after much discussion. agreed to embrace the AFA National Values but provide some explanatory context to how we understand them. These were socialised with AFA-SA Branches and later endorsed by the AFA-SA State Council.

While they are new in some respects, we believe they are inherent to and align with our association’s ideals and operations over the last 100 years. We also see them as being fundamental to how our association can better support our Air Force veterans today and into the future. By embracing the four values of Courage, Respect, Care and Compassion, we believe we will be a better organisation and indeed individuals.

Our Outputs / Deliverables

In accordance with our mission, the Air Force Association (South Australia) priorities work, output and activities according to our four key outputs of Camaraderie, Advocacy, Assistance and Commemoration.

Camaraderie

Camaraderie continues to be a priority for the association and one that the association does with reasonable success. At the branch level, camaraderie remains an important output with the older veterans where monthly meetings, lunches and activities are an expected and appreciated opportunity to get together. Likewise, at the state level, we partner with the Combined Ex-Services Mess at Torrens Parade Ground on the monthly lunch which attracts over 70 people per month. The newsletter, AFA-SA Quarterly remains a key part of our camaraderie focus. In the next several months, we will be partnering with RAAF Edinburgh in a new project with serving RAAF members visiting our aged veterans in nursing homes, under care etc.

Advocacy

We advocate for Air Force veterans through a variety of means. At the National level, we aim to contribute to AFA National perspectives. At the State level, we aim to engage South Australia veterans’ agencies such as Veterans SA, key appointments such as the South Australian Deputy Commissioner DVA and Minister for Veterans Affairs (SA)) and veterans support organisations. We find the greatest success can be secured working in partnership with other veteran’s organisation. We largely accomplish this through a group of veteran’s organisations called the ‘Consortium’ which is

essentially a South Australian version of the ESORT and the Deputy Commissioners Consultative Forum for which we have dedicated representatives. The State Council recently reviewed and reaffirmed a position on advocacy in early 2024. We have represented the association in various engagements with Federal and State Ministers.

Assistance

We appreciate ex-serving members, and their families of various ages will require assistance and support at times and should be there for them when needed. During the 2023-24 period, the State Council endorsed an initiative to trial working with a recognised and trusted veterans support provider for assistance to Air Force veterans.

Commemoration and Heritage

Partnering with RAAF Base Edinburgh, AFA-SA delivers three annual commemorative services (Air Force Birthday, Bomber Command and Battle of Britain). These have come to be known as the standard by which other commemorations are judged in South Australia regularly attracting more than 150 attendees. The model of RAAF Edinburgh squadrons supporting specific commemorations (eg 462SQN linked to Bomber Command Commemoration and 1RSU linked to Battle of Britain) with assistance from Australian Air Force Cadets provides an important means to connect with our young serving veterans as well as provide a “Then – Now – Always” theme. Smaller commemorations such as Dambusters 80th, D Day 80th and 50th anniversary of Vietnam have provided additional opportunities to acknowledge those who have served.

Throughout the year, AFA-SA attends many commemorations hosted by various organisations across the Adelaide and broader, South Australian region. In doing so, it acknowledges those who have served and honours those who have paid the ultimate sacrifice or been impacted by their service. Such events also provide an important means to promote the association and Air Force veterans as well as network with veterans and other veteran organisations.

AFA works closely with the families of recently deceased AFA members to ensure our Air Force veterans are appropriately acknowledged and their families support at their time of need.

AFA-SA sees promoting and protecting Air Force heritage as an important and ongoing line of operation. We closely work with RAAF Edinburgh, the South Australian Aviation Museum, History Trust of South Australia and other organisations in promoting and recognising air force heritage. Our social media “On the Day” program is a particularly successful example of this work. While in previous years we have worked with other organisations in recognising the Epic Flight Centenary and AF2021, this year we are focusing on the 70th anniversary of Edinburgh Airfield. A frustrating project has been securing a Link Trainer for permanent display at Torrens Parade Ground with ongoing delays by Air Force in disposing of the item to the South Australian Government.

Following the successful Air Force Centenarian initiative during 2021, RAAF Edinburgh have partnered with AFA-SA in continuing the initiative in South Australia for all Air Force veterans turning 100. This involves connecting with the family of the centenarian and establishing what they would like to do, what would be appropriate and what RAAF Edinburgh / AFA-SA can support. Activities can include a base visit, having RAAF personnel at visit their house for a morning tea, organising Chief of Air Force Letters, or a small memento. The initiative has had several notable successes (Howard Hendrick, Lyall Ellers, Angas Hughes), but there are a number of RAAF veterans who decline an actual activity, and it is challenging building a comprehensive list of those who turn 100.

Communication

AFA-SA Quarterly Newsletter

Following a revamp in 2023, the revamped AFA-SA Quarterly Newsletter has proven to be an exceptional tool at not just communicating to our members but also to our stakeholders, partners and friends. Following a review of these groups, the distribution of our newsletter was rejigged with many key and influential non-AFA-SA stakeholders / appointments / friends across various sectors including Government (local, state and federal), Defence, industry, veterans, indigenous, aerospace, heritage) now receiving the newsletter ensuring they hear our story of commemoration, heritage and advocacy.

Social Media

The AFA-SA Social Media campaign continues to be the associations most successful and cost-efficient operation. During the reporting period, the AFA-SA Facebook page surpassed 4,000 followers and is now over 4,500 followers; In 2018 when we first commenced the ambitious program of producing a daily ‘On this Day’ Heritage Facebook post we had less than 300 followers. Interestingly, the great majority are South Australian based. The approach to build a following on Facebook vice other social media over last four years through targeting commemoration and heritage posts has paid huge dividends. Our Facebook page is now reaching unparalleled numbers in terms of reach and interaction. Several posts have reached viral levels. For example, a post on 26 February concerning the flight of a Japanese floatplane over Melbourne in February 1942 reached over 180,000 people, was shown on screens over 189,000 times and had over 3,400 interactions (ie shares, likes, comments). This has been our most successful social media post.

Our social media program is dependent on the dedication and commitment of one of our vice presidents who closely manages the page content ensuring it maps to organisational goals, brand, priorities and activities. As an ongoing project, our Facebook Page operations are directly contributing to our four outputs of advocacy, assistance, camaraderie and commemoration and our five Priorities.

Website

The AFA-SA Website is another important communications tool designed to provide information to members, Air Force veterans and the broader community. Managed by our dedicated volunteer website manager, Mr John Stapleton, the website has been progressively updated with a low cost but more contemporary feel including greater imagery and user-friendly feel. The website comprises key information on AFA-SA organisation, governance, membership, AFA-SA Quarterly Newsletter, AFA-SA Biographical Profiles, and the Air Force in South Australia.

Collaboration, Partners and Relationships

As a small but dedicated and passionate veteran’s organisation, we appreciate that we cannot operate by ourselves and can only work collegiately with other organisations in supporting Air Force veterans and realising our mission and vision.

Defence

RAAF Edinburgh. The Air Force Association (SA) continues to have a close and productive relationship with RAAF Edinburgh whose support is critical to the association. AIRCDRE Adrian Maso, Commander Air Warfare Centre and Senior Air Force Representative – South Australia, has taken good interest in the veteran’s community. Meanwhile, the work of his Deputy Senior Air Force Representative (South Australia), GPCAPT Greg Weller, whose role in Air Force engagement, relationships, heritage and the veterans community, is critically important to the association with his contributions not only from a formal RAAF perspective but also on the State Council as a Vice-President are immeasurable.

Australian Air Force Cadets. Recognising that the youth of our community are the future of the Air Force and our association, we closely work and are supported by the Australian Air Force Cadets in many of our activities, particularly commemorations. Their support for our major commemorative services is vital.

Air Force Association

AFA-SA Branches. The AFA-SA Branches provide the ground roots support for Air Force veterans in terms of camaraderie and assistance. Without our members in the branches, the association could not perform its core business.

AFA National. As the AFA’s national body, AFA National gives AFA a means to promote issues and concerns on the national agenda through national veteran’s forums. It also provides direction, guidance and assistance in standardising and aligning to Air Force veteran’s issues, initiatives and programs across the nation.

South Australian Veterans Community

Government Agencies. The AFA-SA closely works with Department of Veterans Affairs (Deputy Commission South Australia), Veterans SA, Department of Environment and Water, and Defence SA in ensuring support for our Air Force veterans and building collegiate approaches to veteran’s concerns.

Other Veterans organisations. The AFA-SA closely works with traditional veteran’s organisations including RSL-SA, Legacy SA, and the Consortium and smaller groups such as the 460SQN Friends and Family Group and the 24SQN Association.

Organisations

South Australian Aviation Museum. AFA-SA maintains an important relationship with the South Australian Aviation Museum appreciating its importance in South Australia in promoting military aviation heritage and thus, Air Force heritage. AFA-SA collaborates with SAAM on many initiatives.

Aerospace community. AFA-SA works with other not for profit organisations in the aerospace community such as Royal Aeronautical Society and the Honourable Company of Air Pilots.
 

Key Achievements

Air Force Association SA Division Inc

Treasurer’s Report for the Year ended 30 June 2024

Attached are the audited financial statements of Air Force Association SA Division (AFA SA the Association) for the year ended 30 June 2024 as prepared by BK Partners Chartered Accountants. The statements consist of:

• Profit and Loss Statement for the year ended 30 June 2024,
• Balance Sheet as at 30 June 2024, and
• Notes to the Financial Statements for the Year ended 30 June 2024.

LVM Auditors have audited the statements. They have provided an unqualified audit opinion; the full Audit report is attached. In part it indicates:

1. (that the statement) give a true and fair view of the company’s financial position as at 30 June 2024 and its performance for the year then ended; and
2. complying with Australian Accounting Standards to the extent described in Note1, and the Associations Act and Regulation 2001.

As Treasurer of AFA SA, I have made a declaration attached that in part advises that, in my opinion, there are reasonable grounds to believe that the Association will be able to pay its debts as and when due and payable.

I make the following comments in relation to the 2024 financial year:

1. Profit and Loss Statement
2. 1. The main income of the association relates to dividends, trust distributions and franking credits from the Association investment portfolio. Without abnormal events the income of the AFA SA would be of the order of $100,000, investment income represented approximately $90,000 or 90% of the total income.
   2. Total Income has increased from $43,868 in 2023 to $128,426 in 2024, the difference is mainly due to the following once-off events in the two years.
   3. A loss on sale of non-current Assets of $39,324 was recorded in 2023, this related to the sale of a shareholding in 2023;
   4. Other revenue of $22,989 in 2024 (nil in 2023), this related to the recovery of GST from prior years not claimed;
   5. Increase in trust distributions from Managed Funds in the portfolio from $12,282 in 2023 to $25,281 in 2024 due to improvements in the economic environment; and
   6. Receipt of $4,100 in Government grants (nil in 2023) due to the receipt of grant funding from DVA for a computer and commemoration expenses.
   7. Expenses stayed relatively constant between the 2 years 2023 being $121,792 decreasing to $109,215 in 2024 the main difference being a decrease in repairs and maintenance of $5,000 in 2024 and grant expenditure of $4,100.
   8. Mainly due to the once-off events above, 2023 showed a loss of $77,924 compared with a profit of $19,211 in 2024.
   9. The main conclusions from the profit and loss statement are
      • That the maintenance of reasonable income is entirely dependent on good management of the investment portfolio;
      • That the operating expenditure of the Association appears to be relatively constant and mainly related to administration the costs of the Association, in fact, some of the costs relate to Commemorative, Advocacy and Comradery activities including support to the Tri Services mess; and
      • To maintain the ongoing surplus, it is essential, to manage the investments of the Association closely.
3. Balance Sheet
4. 1. The asset and liabilities of the Association over the two years have remained relatively constant, noting:
      • Current Assets have increased from $168,999 in 2023 to $197,802 in 2024, this mainly reflect the increase in revenue during 2024 with cash and cash equivalents increasing from $50,677 in 2023 to $77,887 in 2024;
      • Non-Current Assets (mainly the share portfolio) is constant at $1.5 million;
      • It should be noted however that the financial statements are prepared under a “historic cost convention”, the major implication of this is that shares in listed companies will be recorded at cost (currently $1.2 million) and not the market value of the assets at the 30 June 2024 ($1.7 million);
      • Liabilities are minimal at $21,800 and are predominantly related to employee liabilities; and
      • Total equity of the Association is in the order of $1.5 million.
   2. The main conclusions from the balance sheet are.
      • The Association has minimal liabilities, has cash, receivables and term deposits of approximately $200,000 and investments valued at $1.7 million at 30 June 2024.
      • The Association is asset rich but is also susceptible to market pressures as 85% of its assets are tied to Shares and Managed Funds listed on the ASX.
5. Conclusion

Overall, I would like to express my opinion that the Air Force Association SA Division Inc is in a strong financial position with investment assets that generate sufficient funds to cover current operating activities, the Association has minimal liabilities.

The revenue generated by the Association is almost entirely obtained through distributions from shares and Managed Funds listed on the ASX. The Association investment portfolio is generating of the order of $90,000 pa against a portfolio with a market value of $1.7 million (5.3% excluding capital gains). This is a reasonable return but comes with some risk due to the global economic environment.

The financial statements of the Association highlight expenditure on administrative activities and mask the expenditure on the objectives and purpose of the Association (inc Commemorative, Advocacy and Camaraderie activities). It would be desirable to more clearly, by note or otherwise, highlight the extent to which these activities address the objectives of the Association, namely

1. Advocating for and supporting the wellbeing of all members and the Air Force Family;
2. Supporting the Air Force, it’s History and Traditions; and
3. Honor the life, service and memory of Air Force Members.

The financial statement for the year ended 30 June 2025 will address this issue.

Recently the Association has embarking on initiatives for the expansion of activities that will further address the objectives of the Association but will need to source additional funding through grants cash or the controlled sale of financial assets if it is to further increase expenditure in this area. In addition, I think we often forget the “in-kind” support provided by Council members, branches, general members and public. It would be desirable to quantify these objectives and publish them as notes or as part of an annual report. I intend to help address these issues in 2025 as Treasurer or in any other capacity the members think fit.

Your respectfully

J.P. Boyd

Jonathan Boyd

BA (Acc) CPA (Retired)

Hon. Treasurer AFA SA.

3 October 2024

NB. The Auditors Report is available separately at the 2024 AFA-SA Div Ltd AGM