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LIBSTAR HOLDINGS LIMITED - Results of the Annual General Meeting of Shareholders

Release Date: 21/05/2019 15:30
Code(s): LBR     PDF:  
 
Wrap Text
Results of the Annual General Meeting of Shareholders

Libstar Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2014/032444/06)
JSE share code: LBR
ISIN: ZAE000250239
(“Libstar” or the "Company")


RESULTS OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS

Libstar shareholders are advised that the annual general meeting of the Company was held at 10h00 on Monday,
20 May 2019 (“Annual General Meeting”).

As at Friday, 10 May 2019, being the Annual General Meeting Record Date (“Voting Record Date”), the total number
of Libstar ordinary shares in issue (“Libstar Issued Ordinary Shares”) was 681 921 408.

The Libstar Issued Ordinary Shares eligible to vote by being present in person or by submitting proxies was 524 488
592, being 77% of the Libstar Issued Ordinary Shares.

The audited annual financial statements of the Libstar group and the reports of the board of directors of the Company,
the Audit and Risk Committee and the Social and Ethics Committee for the financial year ended 31 December 2018
were presented to the shareholders.

The voting results were as follows:

1.   Ordinary Resolution Number 1 – Re-election of Wahid Suleiman Hamid as a director


                                                                                                       Shares
                                        Total Shares voted
                                                                                                      abstained
           For (%)               Against (%)              Number                   %(1)                   %(1)
            95,59                     4,41             521,284,332                76,44                   0,47


2.   Ordinary Resolution Number 2 – Re-election of Sandeep Khanna as a director


                                                                                                       Shares
                                        Total Shares voted
                                                                                                      abstained
           For (%)               Against (%)              Number                   %(1)                   %(1)
            96,11                     3,89             521,284,332                76,44                   0,47


3.   Ordinary Resolution Number 3 – Re-election of Johannes Petrus Landman as a director


                                                                                                       Shares
                                        Total Shares voted
                                                                                                      abstained
           For (%)               Against (%)              Number                   %(1)                   %(1)
            99,99                  0,00044             521,284,332                76,44                   0,47
 4.   Ordinary Resolution Number 4 – Election of Sibongile Masinga as a director


                                                                                          Shares
                                    Total Shares voted
                                                                                         abstained
           For (%)             Against (%)           Number                %(1)             %(1)
            99,99               0,00285            519,019,335            76,11            0,80


5.    Ordinary Resolution Number 5 – Re-appointment of Moore Stephens Cape Town Incorporated as
      auditors, and the individual designated audit partner


                                                                                          Shares
                                    Total Shares voted
                                                                                         abstained
           For (%)             Against (%)           Number                %(1)             %(1)
            99,77                0,226             524,470,405            76,91           0,00267


6.    Ordinary Resolution Number 6 – Appointment of Sibongile Masinga as a member and chairperson of
      the Audit and Risk Committee


                                                                                          Shares
                                    Total Shares voted
                                                                                         abstained
           For (%)             Against (%)           Number                %(1)             %(1)
            99,91               0,09317            518,417,941            76,02            0,89


7.    Ordinary Resolution Number 7 – Re-appointment of Sandeep Khanna to the Audit and Risk Committee


                                                                                          Shares
                                    Total Shares voted
                                                                                         abstained
           For (%)             Against (%)           Number                %(1)             %(1)
            92,40                 7,60             521,284,332            76,44            0,47


8.    Ordinary Resolution Number 8 – Re-appointment of Johannes Petrus Landman to the Audit and Risk
      Committee


                                                                                          Shares
                                    Total Shares voted
                                                                                         abstained
           For (%)             Against (%)           Number                %(1)             %(1)
            99,91               0,09045            520,232,623           76,289            0,624


9.    Ordinary Resolution Number 9 – Adoption of the Libstar Group Share Plan


                                                                                          Shares
                                    Total Shares voted
                                                                                         abstained
           For (%)             Against (%)           Number                %(1)             %(1)
            80,90                19,10             516,484,209            75,74            1,174
10.   Ordinary Resolution Number 10 – Non-binding advisory vote with respect to the Remuneration Policy


                                                                                                   Shares
                                      Total Shares voted
                                                                                                  abstained
            For (%)              Against (%)            Number                  %(1)                  %(1)
             74,89                 25,11              519,013,794              76,11                 0,80


      As the non-binding advisory endorsement approving Libstar’s Remuneration Policy has been voted against by
      shareholders exercising just over 25% of the voting rights exercised on this resolution, Libstar extends an
      invitation to dissenting shareholders to engage with the Company by forwarding their concerns/questions to
      Solach Pather on email compsecretary@libstar.co.za by close of business on 31 May 2019.


11.   Ordinary Resolution Number 11 – Non-binding advisory vote with respect to the Implementation Report
      in respect of the Remuneration Policy


                                                                                                   Shares
                                      Total Shares voted
                                                                                                  abstained
            For (%)              Against (%)            Number                  %(1)                  %(1)
            76,80%                 23,20              519,013,794              76,11                 0,80


12.   Ordinary Resolution Number 12 – General authority to issue shares in the Company for cash


                                                                                                   Shares
                                      Total Shares voted
                                                                                                  abstained
            For (%)              Against (%)            Number                  %(1)                  %(1)
            67,51%                 32,49%             524,466,155              76,91                0,00329


      The Company notes the votes against the general authority and commits to consult with shareholders to
      identify and address their concerns.


13.   Ordinary Resolution Number 13 – General authorisation


                                                                                                   Shares
                                      Total Shares voted
                                                                                                  abstained
            For (%)              Against (%)            Number                  %(1)                  %(1)
             99,04                  0,96              467,835,482              68,61                 8,308


14.   Special Resolution Number 1 – Financial assistance to staff and executives of the Libstar Group to
      acquire securities in the Company pursuant to the Libstar Group Share Plan


                                                                                                   Shares
                                      Total Shares voted
                                                                                                  abstained
            For (%)              Against (%)            Number                  %(1)                  %(1)
             78,41                 21,59              519,675,573              76,21                 0,71
15.   Special Resolution Number 2 – Approval to issue shares in terms of section 41(1) of the Companies Act


                                                                                                     Shares
                                       Total Shares voted
                                                                                                    abstained
            For (%)              Against (%)             Number                  %(1)                  %(1)
             74,93                  25,07             519,014,044               76,11                  0,80


      The Company notes the votes against the policy and commits to consult with shareholders to identify and
      address their concerns.

16.   Special Resolution Number 3 – General authority to repurchase shares


                                                                                                     Shares
                                       Total Shares voted
                                                                                                    abstained
            For (%)              Against (%)             Number                  %(1)                  %(1)
             85,89                  14,11             524,466,399               76,91                0,00325


17.   Special Resolution Number 4 – Financial assistance for related or inter-related companies or
      corporations, their members and other related persons


                                                                                                     Shares
                                       Total Shares voted
                                                                                                    abstained
            For (%)              Against (%)             Number                  %(1)                  %(1)
             87,39                  12,61             470,571,176               69,01                  7,91

 (1) Expressed as a percentage of 681,921,408 Libstar ordinary shares in issue as at the Voting Record Date of Friday,
 10 May 2019.


 Johannesburg
 21 May 2019

 Sponsor
 The Standard Bank of South Africa Limited

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