31 May 2022 13:00
AECI Limited - Result of AGMAECI Limited - Result of AGM
PR Newswire
London, May 31
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 98th Annual General Meeting (AGM) of the shareholders of AECI held today, 31 May 2022, all the ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes. In this regard, AECI confirms the voting statistics from the AGM as follows:
| Resolutions | Votes cast disclosed as a percentage in relation to the total number of shares voted at the meeting Ordinary shares (Ord) B ordinary shares (B Ord) | Number of shares voted | Shares voted disclosed as a percentage in relation to the total issued share capital (%)* Ordinary shares (Ord) B ordinary shares (B Ord) | Shares abstained disclosed as a percentage in relation to the total issued share capital (%)* Ordinary shares (Ord) B ordinary shares (B Ord) | |
| For (%) | Against (%) | ||||
| Ordinary resolution No. 1: Reappointment of independent auditor | 96,63 Ord 100,00 B Ord | 3,37 Ord 0,00 B Ord | 88 537 420 Ord 10 117 951 B Ord | 83,91 Ord 100,00 B Ord | 0.02 Ord 0.00 B Ord |
| Ordinary resolution No. 2.1: Re-election of Non-executive Director – Dr KDK Mokhele | 99,99 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | 88 536 920 Ord 10 117 951 B Ord | 83,91 Ord 100,00 B Ord | 0,02 Ord 0,00 B Ord |
| Ordinary resolution No. 2.2: Re-election of Non-executive Director – Mr SA Dawson | 99,99 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | 88 536 920 Ord 10 117 951 B Ord | 83,91 Ord 100,00 B Ord | 0,02 Ord 0,00 B Ord |
| Ordinary resolution No. 2.3: Re-election of Non-executive Director – Mr WH Dissinger | 99,99 Ord 100.00 B Ord | 0.01 Ord 0.00 B Ord | 88 536 920 Ord 10 117 951 B Ord | 83.91 Ord 100.00 B Ord | 0.02 Ord 0.00 B Ord |
| Ordinary resolution No. 3: Appointment of Ms PA Mishic O’Brien as a Non-executive Director | 99,99 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | 88 536 913 Ord 10 117 951 B Ord | 83,91 Ord 100,00 B Ord | 0,02 Ord 0,00 B Ord |
| Ordinary resolution No. 4: Election of Ms A Takoordeen as an Executive Director | 99,84 Ord 100,00 B Ord | 0,16 Ord 0,00 B Ord | 88 537 413 Ord 10 117 951 B Ord | 83,91 Ord 100,00 B Ord | 0,02 Ord 0,00 B Ord |
| Ordinary resolution No. 5: Re-election of KM Kathan as an Executive Director | 99,99 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | 88 536 920 Ord 10 117 951 B Ord | 83,91 Ord 100,00 B Ord | 0,02 Ord 0,00 B Ord |
| Ordinary resolution No. 6.1: Election of Audit Committee member – Ms FFT De Buck | 99,99 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | 88 536 913 Ord 10 117 951 B Ord | 83,91 Ord 100,00 B Ord | 0,02 Ord 0,00 B Ord |
| Ordinary resolution No. 6.2: Election of Audit Committee member – Mr G Gomwe | 99,97 Ord 100,00 B Ord | 0,03 Ord 0,00 B Ord | 88 536 913 Ord 10 117 951 B Ord | 83,91 Ord 100,00 B Ord | 0,02 Ord 0,00 B Ord |
| Ordinary resolution No. 6.3: Election of Audit Committee member – Ms AM Roets | 99,99 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | 88 536 913 Ord 10 117 951 B Ord | 83,91 Ord 100,00 B Ord | 0,02 Ord 0,00 B Ord |
| Ordinary resolution No. 6.4: Election of Audit Committee member – Ms PG Sibiya | 99,99 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | 88 536 913 Ord 10 117 951 B Ord | 83,91 Ord 100,00 B Ord | 0,02 Ord 0,00 B Ord |
| Ordinary resolution No.7.1: Remuneration Policy | 95,17 Ord 100,00 B Ord | 4,83 Ord 0,00 B Ord | 88 535 913 Ord 10 117 951 B Ord | 83,91 Ord 100,00 B Ord | 0,02 Ord 0,00 B Ord |
| Ordinary resolution No.7.2: Implementation of Remuneration Policy | 95,25 Ord 100,00 B Ord | 4,75 Ord 0,00 B Ord | 88 535 913 Ord 10 117 951 B Ord | 83,91 Ord 100,00 B Ord | 0,02 Ord 0,00 B Ord |
| Ordinary resolution No.8: Approval of the amended rules of the 2012 Long-term Incentive Plan | 99,74 Ord 100,00 B Ord | 0,26 Ord 0,00 B Ord | 88 499 692 Ord 10 117 951 B Ord | 83,87 Ord 100,00 B Ord | 0,06 Ord 0,00 B Ord |
| Special resolution No. 1.1: Directors’ fees and remuneration - Board: Chairman | 96,66 Ord 100,00 B Ord | 3,34 Ord 0,00 B Ord | 88 510 286 Ord 10 117 951 B Ord | 83,88 Ord 100,00 B Ord | 0,05 Ord 0,00 B Ord |
| Special resolution No. 1.2: Directors’ fees - Board: Non-executive Directors | 99,99 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | 88 501 349 Ord 10 117 951 B Ord | 83,87 Ord 100,00 B Ord | 0,05 Ord 0,00 B Ord |
| Special resolution No. 1.3: Directors’ fees - Audit Committee: Chairman | 99,99 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | 88 501 349 Ord 10 117 951 B Ord | 83,87 Ord 100,00 B Ord | 0,05 Ord 0,00 B Ord |
| Special resolution No. 1.4: Directors’ fees - Other Board Committees: Chairman | 99,99 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | 88 501 349 Ord 10 117 951 B Ord | 83,87 Ord 100,00 B Ord | 0,05 Ord 0,00 B Ord |
| Special resolution No. 1.5: Directors’ fees - Audit Committee: member | 99,99 Ord 100,00 B Ord | 0.01 Ord 0.00 B Ord | 88 501 349 Ord 10 117 951 B Ord | 83.87 Ord 100.00 B Ord | 0.05 Ord 0.00 B Ord |
| Special resolution No. 1.6: Directors’ fees - Other Board Committees: member | 99,99 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | 88 501 349 Ord 10 117 951 B Ord | 83,87 Ord 100,00 B Ord | 0,05 Ord 0,00 B Ord |
| Special resolution No. 1.7: Directors’ fees - Meeting attendance fee (includes ad hoc meetings) | 99,99 Ord 100,00 B Ord | 0,01 Ord 0,00 B Ord | 88 501 349 Ord 10 117 951 B Ord | 83,87 Ord 100,00 B Ord | 0,05 Ord 0,00 B Ord |
| Special resolution No. 1.8: Directors’ fees - Per-trip allowance | 100,00 Ord 100,00 B Ord | 0,00 Ord 0,00 B Ord | 88 501 349 Ord 10 117 951 B Ord | 83,87 Ord 100,00 B Ord | 0,05 Ord 0,00 B Ord |
| Special resolution No. 2: General authority to repurchase shares | 99,94 Ord 100,00 B Ord | 0,06 Ord 0,00 B Ord | 88 371 850 Ord 10 117 951 B Ord | 83,75 Ord 100,00 B Ord | 0,18 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 | 88 537 570 Ord 10 117 951 B Ord | 83,91 Ord 100,00 B Ord | 0,02 Ord 0,00 B Ord |
* The issued ordinary share capital is 105 517 780 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.
Woodmead, Sandton
31 May 2022
Equity and Debt Sponsor:
Rand Merchant Bank (A division of FirstRand Bank Limited)
Aeci 5 1/2% Prf (87FZ)