Last checked at 26 May 2020 13:45
AECI Limited - Result of AGMAECI Limited - Result of AGM
PR Newswire
London, May 26
AECI LIMITEDIncorporated in the Republic of South Africa(Registration number: 1924/002590/06)Share code: AFE ISIN: ZAE000000220Hybrid code: AFEP ISIN: ZAE000000238Bond company code: AECILEI: 3789008641F1D3D90E85(“AECI” or “the Company”)
REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING
At the 96th annual general meeting (“AGM” or “the meeting”) of the shareholders of AECI held today, 26 May 2020, all the ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes. In this regard, the Company confirms the voting statistics from the AGM as follows:
| Votes cast disclosed as a percentage in relation to the total number of shares voted at the meeting | Number of shares voted | Shares voted disclosed as a percentage in relation to the total issued share capital* | Shares abstained disclosed as a percentage in relation to the total issued share capital* | |||
| Ordinary shares (“Ord”) B ordinary shares (“B Ord”) | ||||||
| Resolutions | For | Against | ||||
| Ordinary resolution No. 1: Adoption of annual financial statements | 100,00 Ord 100,00 B Ord | 0,00 Ord 0,00 B Ord | 94 218 962 Ord 10 117 951 B Ord | 77,34 Ord 100,00 B Ord | 0,32 Ord 0,00 B Ord | |
| Ordinary resolution No. 2: Reappointment of independent auditor | 96,36 Ord 100,00 B Ord | 3,64 Ord 0,00 B Ord | 94 591 012 Ord 10 117 951 B Ord | 77,64 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | |
| Ordinary resolution No. 3.1: Re-election of Non-executive Director - Dr KDK Mokhele | 93,90 Ord 100,00 B Ord | 6,10 Ord 0,00 B Ord | 94 590 512 Ord 10 117 951 B Ord | 77,64 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | |
| Ordinary resolution No. 3.2: Re-election of Non-executive Director - Adv R Ramashia | 99,96 Ord 100,00 B Ord | 0,04 Ord 0,00 B Ord | 94 590 512 Ord 10 117 951 B Ord | 77,64 Ord 100,00 B Ord | 0,01Ord 0,00 B Ord | |
| Ordinary resolution No. 4.1: Re-election of Non-executive Director - Mr SA Dawson | 99,96 Ord 100,00 B Ord | 0,04 Ord 0,00 B Ord | 94 590 512 Ord 10 117 951 B Ord | 77,64 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | |
| Ordinary resolution No. 4.2: Re-election of Non-executive Director - Ms FFT De Buck | 100,00 Ord 100,00 B Ord | 0,00 Ord 0,00 B Ord | 94 590 512 Ord 10 117 951 B Ord | 77,64 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | |
| Ordinary resolution No. 4.3: Re-election of Non-executive Director - Mr WH Dissinger | 99,96 Ord 100,00 B Ord | 0,04 Ord 0,00 B Ord | 94 590 512 Ord 10 117 951 B Ord | 77,64 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | |
| Ordinary resolution No. 5: Re-election of Executive Director | 99,79 Ord 100,00 B Ord | 0,21 Ord 0,00 B Ord | 94 590 512 Ord 10 117 951 B Ord | 77,64 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | |
| Ordinary resolution No. 6.1: Election of Audit Committee member - Ms FFT De Buck | 100,00 Ord 100,00 B Ord | 0,00 Ord 0,00 B Ord | 94 590 512 Ord 10 117 951 B Ord | 77,64 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | |
| Ordinary resolution No. 6.2: Election of Audit Committee member - Mr G Gomwe | 100,00 Ord 100,00 B Ord | 0,00 Ord 0,00 B Ord | 94 590 512 Ord 10 117 951 B Ord | 77,64 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | |
| Ordinary resolution No. 6.3: Election of Audit Committee member - Ms PG Sibiya | 100,00 Ord 100,00 B Ord | 0,00 Ord 0,00 B Ord | 94 590 512 Ord 10 117 951 B Ord | 77,64 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | |
| Ordinary resolution No. 7.1: Remuneration Policy | 98,09 Ord 100,00 B Ord | 1,91 Ord 0,00 B Ord | 83 621 009 Ord 10 117 951 B Ord | 68,64 Ord 100,00 B Ord | 9,02 Ord 0,00 B Ord | |
| Ordinary resolution No. 7.2: Implementation of Remuneration Policy | 99,54 Ord 100,00 B Ord | 0,46 Ord 0,00 B Ord | 83 621 009 Ord 10 117 951 B Ord | 68,64 Ord 100,00 B Ord | 9,02 Ord 0,00 B Ord | |
| Special resolution No. 1.1: Directors’ fees and remuneration - Board: Chairman | 97,07 Ord 100,00 B Ord | 2,93 Ord 0,00 B Ord | 94 590 362 Ord 10 117 951 B Ord | 77,64 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | |
| Special resolution No. 1.2: Directors’ fees - Board: Non-executive Directors | 99,92 Ord 100,00 B Ord | 0,08 Ord 0,00 B Ord | 94 590 362 Ord 10 117 951 B Ord | 77,64 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | |
| Special resolution No. 1.3: Directors’ fees - Audit Committee: Chairman | 99,93 Ord 100,00 B Ord | 0,07 Ord 0,00 B Ord | 94 590 362 Ord 10 117 951 B Ord | 77,64 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | |
| Special resolution No. 1.4: Directors’ fees - Audit Committee: members | 99,93 Ord 100,00 B Ord | 0,07 Ord 0,00 B Ord | 94 590 362 Ord 10 117 951 B Ord | 77,64 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | |
| Special resolution No. 1.5: Directors’ fees - Other Board Committees: Chairman | 99,93 Ord 100,00 B Ord | 0,07 Ord 0,00 B Ord | 94 590 362 Ord 10 117 951 B Ord | 77,64 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | |
| Special resolution No. 1.6: Directors’ fees - Other Board Committees: members | 99,93 Ord 100,00 B Ord | 0,07 Ord 0,00 B Ord | 94 590 362 Ord 10 117 951 B Ord | 77,64 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | |
| Special resolution No. 1.7: Directors’ fees - Meeting attendance fee | 99,92 Ord 100,00 B Ord | 0,08 Ord 0,00 B Ord | 94 590 362 Ord 10 117 951 B Ord | 77,64 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | |
| Special resolution No. 2: General authority to repurchase shares | 99,76 Ord 100,00 B Ord | 0,24 Ord 0,00 B Ord | 94 587 494 Ord 10 117 951 B Ord | 77,64 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | |
| Special resolution No. 3: Financial assistance to related or inter-related company | 100,00 Ord 100,00 B Ord | 0,00 Ord 0,00 B Ord | 94 590 512 Ord 10 117 951 B Ord | 77,64 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | |
| Special resolution No. 4: Acquisition by the Company of Treasury Shares | 100,00 Ord 100,00 B Ord | 0,00 Ord 0,00 B Ord | 92 882 032 Ord 10 117 951 B Ord | 76,24 Ord 100,00 B Ord | 1,41 Ord 0,00 B Ord | |
| Special resolution No. 5: Decrease in the number of securities and reduction in share capital ** | 100,00 Ord 100,00 B Ord 0,00 Pref | 0,00 Ord 0,00 B Ord 0,00 Pref | 92 883 532 Ord 10 117 951 B Ord 0 Pref | 76,24 Ord 100,00 B Ord 0,00 Pref | 1,41 Ord 0,00 B Ord 5,33 Pref | |
| Special resolution No. 6: Revocations of Special Resolution number 4 if the Proposed Distribution lapses or is terminated or revoked | 100,00 Ord 100,00 B Ord | 0,00 Ord 0,00 B Ord | 92 882 032 Ord 10 117 951 B Ord | 76,24 Ord 100,00 B Ord | 1,41 Ord 0,00 B Ord | |
| Ordinary resolution No. 8: General authority | 99,97 Ord 100,00 B Ord | 0,03 Ord 0,00 B Ord | 92 881 882 Ord 10 117 951 B Ord | 76,24 Ord 100,00 B Ord | 1,41 Ord 0,00 B Ord | |
| Ordinary resolution No. 9: Ratification of Directors’ interests | 98,03 Ord 100,00 B Ord | 1,97 Ord 0,00 B Ord | 92 881 882 Ord 10 117 951 B Ord | 76,24 Ord 100,00 B Ord | 1,41 Ord 0,00 B Ord | |
* The issued ordinary share capital is 121 829 083 listed ordinary shares, 10 117 951 unlisted redeemable convertible B ordinary shares and 3 000 000 listed cumulative preference shares.
** Holders of 5,5% cumulative preference shares (“Pref”) were eligible to vote on this special resolution.
The special resolutions will, where necessary, be lodged for registration with the Companies and Intellectual Property Commission in due course.
Woodmead, Sandton26 May 2020
SponsorRand Merchant Bank (A division of FirstRand Bank Limited)