The Annual General Meeting was held on 27th October, 2019. The minutes of the AGM can be found ERC AGM 2019_Minutes.pdf . In summary however, the main items discussed and resolved were as follows:
Change of name
Members of the Company voted overwhelmingly in favour of a motion to change the name of the Company to:
Estonian Cultural Foundation in Australia Limited
(Eesti Kultuuri Sihtasutus Austraalias)
It was felt by the Board that this year marks a turning point for the Company’s future. The Board was strongly of the belief that if Estonian culture in Australia is to survive, we must look to our youth to engage with and promote the Estonian “story”. As a result, it is felt that the Company’s current name now reflects an era that has long passed and is not in keeping with our current and future objectives.
Should the Board endorse this motion, an application to the Australian Securities and Investment Commission (ASIC) will be lodged to bring the motion into effect.
Financial Position
The total equity of the Company as of 30th June, 2019 was recorded at $905,185.48. Total income received was $79,581.43, this amount being boosted due to a bequeath from the estate of Hans Ots.
Collaboration between ECFA Limited and AESL
It was noted that discussions about a collaborative effort between ECFA Limited and AESL had not progressed to any great degree during the course of the year. The issue may however crystalise at the AESL AGM to be held at the end of January, 2020.
