AECI Limited - Result of AGM
PR Newswire
London, May 29
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
("AECI" or "the Company")
REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING
At the 95th annual general meeting ("AGM" or "the meeting") of the shareholders of AECI held today, 29 May 2019, 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:
| Resolutions | 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") | |||||
| 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 | 87 224 356 Ord 10 117 951 B Ord | 71,60% Ord 100,00% B Ord | 0,52% Ord 0,00% B Ord |
| Ordinary resolution No. 2: Reappointment of independent auditor | 92,91% Ord 100,00% B Ord | 7,09% Ord 0,00% B Ord | 87 514 204 Ord 10 117 951 B Ord | 71,83% Ord 100,00% B Ord | 0,28% Ord 0,00% B Ord |
| Ordinary resolution No. 3.1: Re-election of Non-executive Director - Mr G Gomwe | 98,11% Ord 100,00% B Ord | 1,89% Ord 0,00% B Ord | 87 843 095 Ord 10 117 951 B Ord | 72,10% Ord 100,00% B Ord | 0,01% Ord 0,00% B Ord |
| Ordinary resolution No. 3.2: Re-election of Non-executive Director - Mr AJ Morgan | 97,62% Ord 100,00% B Ord | 2,38% Ord 0,00% B Ord | 87 843 095 Ord 10 117 951 B Ord | 72,10% Ord 100,00% B Ord | 0,01% Ord 0,00% B Ord |
| Ordinary resolution No. 3.3: Re-election of Non-executive Director - Ms PG Sibiya | 98,13% Ord 100,00% B Ord | 1,87% Ord 0,00% B Ord | 87 843 095 Ord 10 117 951 B Ord | 72,10% Ord 100,00% B Ord | 0,01% Ord 0,00% B Ord |
| Ordinary resolution No. 4: Appointment of a Non-executive Director | 100,00% Ord 100,00% B Ord | 0,00% Ord 0,00% B Ord | 87 843 095 Ord 10 117 951 B Ord | 72,10% Ord 100,00% B Ord | 0,01% Ord 0,00% B Ord |
| Ordinary resolution No. 5: Re-election of an Executive Director | 99,09% Ord 100,00% B Ord | 0,91% Ord 0,00% B Ord | 87 843 095 Ord 10 117 951 B Ord | 72,10% Ord 100,00% B Ord | 0,01% Ord 0,00% B Ord |
| Ordinary resolution No. 6.1: Election of Audit Committee member - Mr G Gomwe | 97,58% Ord 100,00% B Ord | 2,42% Ord 0,00% B Ord | 87 514 204 Ord 10 117 951 B Ord | 71,83% Ord 100,00% B Ord | 0,28% Ord 0,00% B Ord |
| Ordinary resolution No. 6.2: Election of Audit Committee member - Mr AJ Morgan | 96,34% Ord 100,00% B Ord | 3,66% Ord 0,00% B Ord | 87 843 095 Ord 10 117 951 B Ord | 72,10% 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 | 97,59% Ord 100,00% B Ord | 2,41% Ord 0,00% B Ord | 87 843 095 Ord 10 117 951 B Ord | 72,10% Ord 100,00% B Ord | 0,01% Ord 0,00% B Ord |
| Ordinary resolution No. 7.1: Remuneration Policy | 97,66% Ord 100,00% B Ord | 2,34% Ord 0,00% B Ord | 87 840 963 Ord 10 117 951 B Ord | 72,10% Ord 100,00% B Ord | 0,01% Ord 0,00% B Ord |
| Ordinary resolution No. 7.2: Implementation of Remuneration Policy | 98,91% Ord 100,00% B Ord | 1,09% Ord 0,00% B Ord | 87 840 963 Ord 10 117 951 B Ord | 72,10% Ord 100,00% B Ord | 0,01% Ord 0,00% B Ord |
| Ordinary resolution No. 8: Amendment of the Company's LTI Plan | 99,10% Ord 100,00% B Ord | 0,90% Ord 0,00% B Ord | 87 843 095 Ord 10 117 951 B Ord | 72,10% Ord 100,00% B Ord | 0,01% Ord 0,00% B Ord |
| Special resolution No. 1.1: Directors' fees and remuneration - Board: Chairman | 99,24% Ord 100,00% B Ord | 0,76% Ord 0,00% B Ord | 87 842 823 Ord 10 117 951 B Ord | 72,10% Ord 100,00% B Ord | 0,01% Ord 0,00% B Ord |
| Special resolution No. 1.2: Directors' fees - Board: Non-executive Directors | 99,24% Ord 100,00% B Ord | 0,76% Ord 0,00% B Ord | 87 842 823 Ord 10 117 951 B Ord | 72,10% Ord 100,00% B Ord | 0,01% Ord 0,00% B Ord |
| Special resolution No. 1.3: Directors' fees - Audit Committee: Chairman | 99,24% Ord 100,00% B Ord | 0,76% Ord 0,00% B Ord | 87 842 823 Ord 10 117 951 B Ord | 72,10% Ord 100,00% B Ord | 0,01% Ord 0,00% B Ord |
| Special resolution No. 1.4: Directors' fees - Audit Committee: members | 99,24% Ord 100,00% B Ord | 0,76% Ord 0,00% B Ord | 87 842 823 Ord 10 117 951 B Ord | 72,10% Ord 100,00% B Ord | 0,01% Ord 0,00% B Ord |
| Special resolution No. 1.5: Directors' fees - Other Board Committees: Chairman | 99,24% Ord 100,00% B Ord | 0,76% Ord 0,00% B Ord | 87 842 823 Ord 10 117 951 B Ord | 72,10% Ord 100,00% B Ord | 0,01% Ord 0,00% B Ord |
| Special resolution No. 1.6: Directors' fees - Other Board Committees: members | 99,24% Ord 100,00% B Ord | 0,76% Ord 0,00% B Ord | 87 842 823 Ord 10 117 951 B Ord | 72,10% Ord 100,00% B Ord | 0,01% Ord 0,00% B Ord |
| Special resolution No. 1.7: Directors' fees - Meeting attendance fee | 99,44% Ord 100,00% B Ord | 0,56% Ord 0,00% B Ord | 87 842 823 Ord 10 117 951 B Ord | 72,10% Ord 100,00% B Ord | 0,01% Ord 0,00% B Ord |
| Special resolution No. 2: General authority to repurchase shares | 99,62% Ord 100,00% B Ord | 0,38% Ord 0,00% B Ord | 87 838 508 Ord 10,117,951 B Ord | 72,10% Ord 100,00% B Ord | 0,01% Ord 0,00% B Ord |
| Special resolution No. 3: Financial assistance to related or inter-related company | 99,73% Ord 100,00% B Ord | 0,27% Ord 0,00% B Ord | 87 842 973 Ord 10 117 951 B Ord | 72,10% Ord 100,00% B Ord | 0,01% Ord 0,00% B Ord |
*The issued ordinary share capital is 121 829 083 listed ordinary shares and 10 117 951 unlisted redeemable convertible B ordinary shares.
The special resolutions will, where necessary, be lodged for registration with the Companies and Intellectual Property Commission in due course.
Woodmead, Sandton
29 May 2019
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
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