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Report on proceedings at the annual general meeting
AECI LIMITED
Incorporated in the Republic of South Africa
(Registration Number 1924/002590/06)
Share code AFE ISIN ZAE000000220
Share code AFEP ISIN ZAE000000238
Bond company code AECI
(“AECI” or “the Company”)
REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING
At the 94th annual general meeting (“AGM”) of the shareholders of AECI held today, 31 May 2018, 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 carried as a Shares voted as a Shares abstained as a
percentage of the total percentage of percentage of the
number of shares voted Number of shares the total issued share total issued share
at the meeting (%) voted capital* (%) capital*(%)
Resolutions
For Against
Ordinary resolution No. 1: Adoption of annual
financial statements 100,00 0,00 104 960 231 79,55 0,44
Ordinary resolution No.2: Reappointment of
independent auditor** 98,01 1,99 105 344 240 79,84 0,15
Ordinary resolution No. 3.1: Re-election of Non-
executive Directors – Ms Z Fuphe 99,46 0,54 105 344 240 79,84 0,15
Ordinary resolution No. 3.2: Re-election of Non-
executive Directors – Dr KDK Mokhele 100,00 0,00 105 344 240 79,84 0,15
Ordinary resolution No. 3.3: Re-election of Non-
executive Directors – Adv R Ramashia 100,00 0,00 105 344 240 79,84 0,15
Ordinary resolution No.4: Appointment of a Non-
executive Director - 100,00 0,00 105 344 240 79,84 0,15
Ordinary resolution No. 5: Re-election of an
Executive Director - 99,83 0,17 105 344 240 79,84 0,15
Ordinary resolution No. 6.1: Election of Audit
Committee members – Mr GW Dempster 99,65 0,35 105 344 240 79,84 0,15
Ordinary resolution No. 6.2: Election of Audit
Committee members – Mr G Gomwe 100,00 0,00 105 344 240 79,84 0,15
Ordinary resolution No. 6.3: Election of Audit
Committee members – Mr AJ Morgan 100,00 0,00 105 344 240 79,84 0,15
Ordinary resolution No. 6.4: Election of Audit
Committee members – Ms PG Sibiya 100,00 0,00 105 344 240 79,84 0,15
Ordinary resolution No. 7.1: Remuneration policy 88,95 11,05 105 344 090 79,84 0,15
Ordinary resolution No. 7.2: Implementation of
Remuneration policy 89,96 10,04 105 108 270 79,66 0,33
Ordinary resolution No. 8: Amendment of the LTIP 100,00 0,00 105 344 090 79,84 0,15
Special resolution No. 1.1: Directors’ fees – Board:
Chairman 100,00 0,00 105 344 090 79,84 0,15
Special resolution No. 1.2: Directors’ fees – Board:
Non-executive Directors 100,00 0,00 105 344 090 79,84 0,15
Special resolution No. 1.3: Directors’ fees – Audit
Committee: Chairman 100,00 0,00 105 344 090 79,84 0,15
Special resolution No. 1.4: Directors’ fees – Audit
Committee: Members 100,00 0,00 105 344 090 79,84 0,15
Special resolution No. 1.5: Directors’ fees – Other
Board Committees: Chairman 100,00 0,00 105 344 090 79,84 0,15
Special resolution No. 1.6: Directors’ fees – Other
Board Committees: Members 100,00 0,00 105 344 090 79,84 0,15
Special resolution No. 1.7: Directors’ fees –
Meeting attendance fee 100,00 0,00 105 344 090 79,84 0,15
Special resolution No. 2: General authority to
repurchase shares 99,88 0,12 105 286 883 79,79 0,20
Special resolution No. 3: Financial assistance to
related or inter-related company 99,77 0,23 105 344 090 79,84 0,15
*The issued ordinary share capital is 121 829 083 listed ordinary shares and 10 117 951 unlisted redeemable convertible B ordinary shares.
**With effect from 6 April 2018.
The special resolutions will, where necessary, be lodged for registration with the Companies and Intellectual Property Commission in due course.
Woodmead, Sandton
31 May 2018
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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