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Result of AGM

26th May 2020 13:45

AECI Limited - Result of AGM

AECI 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 meetingNumber of shares votedShares 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”)
ResolutionsFor Against
Ordinary resolution No. 1: Adoption of annual financial statements100,00 Ord 100,00 B Ord0,00 Ord 0,00 B Ord94 218 962 Ord 10 117 951 B Ord77,34 Ord 100,00 B Ord0,32 Ord 0,00 B Ord
Ordinary resolution No. 2: Reappointment of independent auditor96,36 Ord 100,00 B Ord3,64 Ord 0,00 B Ord94 591 012 Ord 10 117 951 B Ord77,64 Ord 100,00 B Ord0,01 Ord 0,00 B Ord
Ordinary resolution No. 3.1: Re-election of Non-executive Director - Dr KDK Mokhele93,90 Ord 100,00 B Ord6,10 Ord 0,00 B Ord94 590 512 Ord 10 117 951 B Ord77,64 Ord 100,00 B Ord0,01 Ord 0,00 B Ord
Ordinary resolution No. 3.2: Re-election of Non-executive Director - Adv R Ramashia99,96 Ord 100,00 B Ord0,04 Ord 0,00 B Ord94 590 512 Ord 10 117 951 B Ord77,64 Ord 100,00 B Ord0,01Ord 0,00 B Ord
Ordinary resolution No. 4.1: Re-election of Non-executive Director - Mr SA Dawson99,96 Ord 100,00 B Ord0,04 Ord 0,00 B Ord94 590 512 Ord 10 117 951 B Ord77,64 Ord 100,00 B Ord0,01 Ord 0,00 B Ord
Ordinary resolution No. 4.2: Re-election of Non-executive Director - Ms FFT De Buck100,00 Ord 100,00 B Ord0,00 Ord 0,00 B Ord94 590 512 Ord 10 117 951 B Ord77,64 Ord 100,00 B Ord0,01 Ord 0,00 B Ord
Ordinary resolution No. 4.3: Re-election of Non-executive Director - Mr WH Dissinger99,96 Ord 100,00 B Ord0,04 Ord 0,00 B Ord94 590 512 Ord 10 117 951 B Ord77,64 Ord 100,00 B Ord0,01 Ord 0,00 B Ord
Ordinary resolution No. 5: Re-election of Executive Director99,79 Ord 100,00 B Ord0,21 Ord 0,00 B Ord94 590 512 Ord 10 117 951 B Ord77,64 Ord 100,00 B Ord0,01 Ord 0,00 B Ord
Ordinary resolution No. 6.1: Election of Audit Committee member - Ms FFT De Buck100,00 Ord 100,00 B Ord0,00 Ord 0,00 B Ord94 590 512 Ord 10 117 951 B Ord77,64 Ord 100,00 B Ord0,01 Ord 0,00 B Ord
Ordinary resolution No. 6.2: Election of Audit Committee member - Mr G Gomwe100,00 Ord 100,00 B Ord0,00 Ord 0,00 B Ord94 590 512 Ord 10 117 951 B Ord77,64 Ord 100,00 B Ord0,01 Ord 0,00 B Ord
Ordinary resolution No. 6.3: Election of Audit Committee member - Ms PG Sibiya100,00 Ord 100,00 B Ord0,00 Ord 0,00 B Ord94 590 512 Ord 10 117 951 B Ord77,64 Ord 100,00 B Ord0,01 Ord 0,00 B Ord
Ordinary resolution No. 7.1: Remuneration Policy98,09 Ord 100,00 B Ord1,91 Ord 0,00 B Ord83 621 009 Ord 10 117 951 B Ord68,64 Ord 100,00 B Ord9,02 Ord 0,00 B Ord
Ordinary resolution No. 7.2: Implementation of Remuneration Policy99,54 Ord 100,00 B Ord0,46 Ord 0,00 B Ord83 621 009 Ord 10 117 951 B Ord68,64 Ord 100,00 B Ord9,02 Ord 0,00 B Ord
Special resolution No. 1.1: Directors’ fees and remuneration - Board: Chairman97,07 Ord 100,00 B Ord2,93 Ord 0,00 B Ord94 590 362 Ord 10 117 951 B Ord77,64 Ord 100,00 B Ord0,01 Ord 0,00 B Ord
Special resolution No. 1.2: Directors’ fees - Board: Non-executive Directors99,92 Ord 100,00 B Ord0,08 Ord 0,00 B Ord94 590 362 Ord 10 117 951 B Ord77,64 Ord 100,00 B Ord0,01 Ord 0,00 B Ord
Special resolution No. 1.3: Directors’ fees - Audit Committee: Chairman99,93 Ord 100,00 B Ord0,07 Ord 0,00 B Ord94 590 362 Ord 10 117 951 B Ord77,64 Ord 100,00 B Ord0,01 Ord 0,00 B Ord
Special resolution No. 1.4: Directors’ fees - Audit Committee: members99,93 Ord 100,00 B Ord0,07 Ord 0,00 B Ord94 590 362 Ord 10 117 951 B Ord77,64 Ord 100,00 B Ord0,01 Ord 0,00 B Ord
Special resolution No. 1.5: Directors’ fees - Other Board Committees: Chairman99,93 Ord 100,00 B Ord0,07 Ord 0,00 B Ord94 590 362 Ord 10 117 951 B Ord77,64 Ord 100,00 B Ord0,01 Ord 0,00 B Ord
Special resolution No. 1.6: Directors’ fees - Other Board Committees: members99,93 Ord 100,00 B Ord0,07 Ord 0,00 B Ord94 590 362 Ord 10 117 951 B Ord77,64 Ord 100,00 B Ord0,01 Ord 0,00 B Ord
Special resolution No. 1.7: Directors’ fees - Meeting attendance fee99,92 Ord 100,00 B Ord0,08 Ord 0,00 B Ord94 590 362 Ord 10 117 951 B Ord77,64 Ord 100,00 B Ord0,01 Ord 0,00 B Ord
Special resolution No. 2: General authority to repurchase shares99,76 Ord 100,00 B Ord0,24 Ord 0,00 B Ord94 587 494 Ord 10 117 951 B Ord77,64 Ord 100,00 B Ord0,01 Ord 0,00 B Ord
Special resolution No. 3: Financial assistance to related or inter-related company100,00 Ord 100,00 B Ord0,00 Ord 0,00 B Ord94 590 512 Ord 10 117 951 B Ord77,64 Ord 100,00 B Ord0,01 Ord 0,00 B Ord
Special resolution No. 4: Acquisition by the Company of Treasury Shares100,00 Ord 100,00 B Ord0,00 Ord 0,00 B Ord92 882 032 Ord 10 117 951 B Ord76,24 Ord 100,00 B Ord1,41 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 Pref0,00 Ord 0,00 B Ord 0,00 Pref92 883 532 Ord 10 117 951 B Ord 0 Pref76,24 Ord 100,00 B Ord 0,00 Pref1,41 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 revoked100,00 Ord 100,00 B Ord0,00 Ord 0,00 B Ord92 882 032 Ord 10 117 951 B Ord76,24 Ord 100,00 B Ord1,41 Ord 0,00 B Ord
Ordinary resolution No. 8: General authority99,97 Ord 100,00 B Ord0,03 Ord 0,00 B Ord92 881 882 Ord 10 117 951 B Ord76,24 Ord 100,00 B Ord1,41 Ord 0,00 B Ord
Ordinary resolution No. 9: Ratification of Directors’ interests98,03 Ord 100,00 B Ord1,97 Ord 0,00 B Ord92 881 882 Ord 10 117 951 B Ord76,24 Ord 100,00 B Ord1,41 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)

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