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REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING

Monday, 1 June 2015
AECI LIMITED
Incorporated in the Republic of South Africa
   Registration Number 1924/002590/06)
   Share code: AFE               
ISIN: ZAE000000220
    (“AECI” or “the Company”)

At the 91st annual general meeting ("AGM") of the shareholders of AECI held today, 1 June 2015, 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 carried as a
percentage of the total
number of shares voted
at the meeting
Number of shares voted Shares voted as a percentage of the total issued share capital* Shares abstained as a percentage of the total issued share capital*
For Against
Ordinary resolution No. 1: Adoption of annual financial statements 100,00000 0,00000 114 790 527 82,9657 0,04595
Ordinary resolution No.2: Reappointment of independent auditors 100,00000 0,00000 114 850 105 83,0087 0,00289
Ordinary resolution No. 3.1: Re-election of Non-executive Directors – Mr S Engelbrecht 100,00000 0,00000 114 850 105 83,0087 0,00289
Ordinary resolution No. 3.2: Re-election of Non-executive Directors – Ms LL Mda 99,92623 0,07377 114 455 869 82,7238 0,28783
Ordinary resolution No. 3.3: Re-election of Non-executive Directors – Mr LM Nyhonyha 99,92623 0,07377 114 455 869 82,7238 0,28783
Ordinary resolution No.4: Appointment of Director 100,00000 0,00000 114 455 869 82,7238 0,28783
Ordinary resolution No. 5: Re-election of Executive Director 100,00000 0,00000 114 850 105 83,0087 0,00289
Ordinary resolution No. 6.1: Election of Audit Committee members – Mr RMW Dunne 100,00000 0,00000 114 850 105 83,0087 0,00289
Ordinary resolution No. 6.2: Election of Audit Committee members – Mr RL Hiemstra 100,00000 0,00000 114 850 105 83,0087 0,00289
Ordinary resolution No. 6.3: Election of Audit Committee members – Mr AJ Morgan 100,00000 0,00000 114 850 105 83,0087 0,00289
Ordinary resolution No. 6.4: Election of Audit Committee members – Mr LM Nyhonyha 100,00000 0,00000 114 455 869 82,7238 0,28783
Ordinary resolution No. 7: Remuneration policy 76,37937 23,62021 114 006 069 82,3987 0,61292
Special resolution No. 1.1: Directors’ fees – Board: Chairman 99,94921 0,05079 114 850 105 83,0087% 0,00289
Special resolution No. 1.2: Directors’ fees – Board: Non-executive Directors 100,00000 0,00000 114 850 105 83,0087% 0,00289
Special resolution No. 1.3: Directors’ fees – Audit Committee: Chairman 100,00000 0,00000 114 850 105 83,0087% 0,00289
Special resolution No. 1.4: Directors’ fees – Audit Committee: Members 100,00000 0,00000 114 850 105 83,0087 0,00289
Special resolution No. 1.5: Directors’ fees – Other Board Committees: Chairman 100,00000 0,00000 114 850 105 83,0087 0,00289
Special resolution No. 1.6: Directors’ fees – Other Board Committees: Members 100,00000 0,00000 114 850 105 83,0087 0,00289
Special resolution No. 1.7: Directors’ fees – Subsidiaries’ FRRC: Chairman 100,00000 0,00000 114 850 105 83,0087 0,00289
Special resolution No. 1.8: Directors’ fees – Subsidiaries’ FRRC: Non-executive members 100,00000 0,00000 114 850 105 83,0087 0,00289
Special resolution No. 1.9: Directors’ fees – Meeting attendance fee 100,00000 0,00000 114 850 105 83,0087 0,00289
Special resolution No. 1.10: Directors’ fees – Ad hoc service fee 86,57112 13,42888 114 839 079 83,0087 0,01086
Special resolution No. 2: General authority to repurchase shares 99,97818 0,02182 114 842 075 83,0029 0,00869
Special resolution No. 3: Financial assistance to related or inter-related company 100,00000 0,00000 114 850 105 83,0087 0,00289

*Total issued share capital is 138 359 091, comprising 128 241 140 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
1 June 2015

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)


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