Aeci 5 1/2% Prf Regulatory News (87FZ)

AECI Limited - Result of AGM

PR Newswire

London, May 27

AECI LIMITED

Incorporated in the Republic of South Africa

(Registration number: 1924/002590/06)

Share code: AFE ISIN: ZAE000000220

Hybrid code: AFEP ISIN: ZAE000000238

Bond company code: AECI

LEI: 3789008641F1D3D90E85

(AECI or the Company)

REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING

At the 97th annual general meeting (AGM or the meeting) of the shareholders of AECI held on 25 May 2021, all the ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes, except for the non-binding advisory resolution pertaining to the implementation of the Remuneration Policy, which received less than the required 75% of votes. In this regard, AECI confirms the voting statistics from the AGM as follows:

* The issued ordinary share capital is 109 944 384 listed ordinary shares, 10 117 951 unlisted redeemable convertible B ordinary shares and 3 000 000 listed cumulative preference shares.

The special resolutions will, where necessary, be lodged for registration with the Companies and Intellectual Property Commission in due course.

Engagement with shareholders

Shareholders are advised that, consequent to the ordinary resolution relating to the non-binding advisory vote on implementation of the Remuneration Policy being voted against by more than 25% of shareholders present in person or represented by proxy at the AGM (dissenting shareholders), the Company invites dissenting shareholders to engage with it as follows:

Woodmead, Sandton

27 May 2021

Equity and Debt Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)