2018 Annual Meeting – Summary and Results of Voting

MARKET RELEASE
30 October 2018
Cavalier Corporation Annual Meeting Summary and Voting Results
New Zealand carpet company, Cavalier Corporation Limited (NZX: CAV) today held its annual
meeting in Auckland, updating shareholders on its new strategy and its strengthening performance.

In his first meeting as chairman, Alan Clarke commented: “Given Cavalier’s heritage, expertise and
brand reputation, our focus is firmly on wool. Going forward, our efforts will be turned towards
manufacturing and marketing high quality, environmentally responsible carpet solutions.
“We have a very strong financial platform to support growth initiatives, an in depth knowledge of
market opportunities and a passionate, experienced and talented team.
“We are optimistic about our future and the new strategic direction we have set for ourselves, as we
focus on delivering an improved performance and value for shareholders.”
CEO Paul Alston provided an overview on the company’s new strategic focus, as well as an update on
the company’s performance.
CEO Paul Alston said: “We have made significant change to our business in the last couple of years,
to better align capacity and capability to our markets. We are and will remain a proud and highly
successful manufacturer of great carpets that can generate strong and sustainable margins and
achieve profitable growth.
“However, we are now moving to better market our carpets, and it is our intention to be the market
leader in New Zealand for high end carpets, to grow our market share in Australia and selectively
expand our presence in other Rest of World Markets.
“We will build on the success of our Cavalier Bremworth World of Difference positioning, integrate
and promote our New Zealand wool story and quality proposition, and leverage the growing concern
consumers have around the use of plastics and synthetics.
“Cavalier Bremworth was and still is a market leader in product development. For the past two years
we have challenged the product development team to create new and exciting products with a point
of difference and we will progressively launch these into the market over the next 12 months.”
In commenting on performance in the year to date, Paul said: “The market has been quiet in the first
quarter this year, however, we are anticipating another year of improving financial performance.
Demand for wool continues to grow, we have a strengthening balance sheet, and we are continuing
to deliver efficiency gains and improving margins while investing in our business.
“There is a call to action for the industry to promote wool as a desirable high end product. Cavalier is
playing an important role in this – we want to see New Zealand’s wool industry positioned as one of
the best in the world and we can do that through the manufacture, marketing and sale of high end
woollen carpets.”

Shareholders passed all resolutions at the 2018 annual meeting:
Resolution For Against Abstain
Authorise Directors to fix the auditor’s
remuneration
27,516,591
100.0%
0
0.00%
51,202

Re-election of Grant Biel as a director
26,869,206
97.69%
635,553
2.31%
63,034

Election of Alan Clarke as a director
27,163,516
99.88%
31,933
0.12%
372,344

Election of George Adams as a director
27,460,002
99.88%
33,007
0.12%
74,784

Approve an increase in Directors’
remuneration to $450,000 per annum
16,861,507
94.72%
939,626
5.28%
9,766,660


ENDS
For further information please contact:
Paul Alston
Chief Executive Officer
palston@cavbrem.co.nz
+64 21 918 033
+64 9 277 1135
Lenska Papich
General Manager Communications
lpapich@cavcorp.co.nz
+64 21 410 496