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REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING

Monday, 30 May 2016
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 92nd annual general meeting (“AGM”) of the shareholders of AECI held today, 30 May 2016, 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% 107 899 588 81.50177% 0.08586%
Ordinary resolution No.2: Reappointment of independent auditors 91.29002% 8.70998% 106 609 179 80.52706% 1.06057%
Ordinary resolution No. 3.1: Re-election of Non-executive Directors – Ms Z Fuphe 98.14712% 1.85288% 108 003 064 81.57993% 0.00770%
Ordinary resolution No. 3.2: Re-election of Non-executive Directors – Mr Gomwe 100.00000% 0.00000% 108 003 064 81.57993% 0.00770%
Ordinary resolution No. 3.3: Re-election of Non-executive Directors – Adv R Ramashia 100.00000% 0.00000% 108 003 064 81.57993% 0.00770%
Ordinary resolution No.4.1: Appointment of Directors – Mr GW Dempster 100.00000% 0.00000% 108 003 064 81.57993% 0.00770%
Ordinary resolution No.4.2: Appointment of Directors – Dr KDK Mokhele 100.00000% 0.00000% 108 003 064 81.57993% 0.00770%
Ordinary resolution No. 5: Re-election of Executive Director 100.00000% 0.00000% 108 003 064 81.57993% 0.00770%
Ordinary resolution No. 6.1: Election of Audit Committee members – Mr GW Dempster 99.54025% 0.45975% 108 003 064 81.57993% 0.00770%
Ordinary resolution No. 6.2: Election of Audit Committee members – Mr RMW Dunne 98.10740% 1.89260% 107 925 183 81.52111% 0.06653%
Ordinary resolution No. 6.3: Election of Audit Committee members – Mr G Gomwe 99.54025% 0.45975% 108 003 064 81.57993% 0.00770%
Ordinary resolution No. 6.4: Election of Audit Committee members – Mr AJ Morgan 99.54025% 0.45975% 108 003 064 81.57993% 0.00770%
Ordinary resolution No. 6.5: Election of Audit Committee members – Mr LM Nyhonyha 98.79820% 1.20180% 108 003 064 81.57993% 0.00770%
Ordinary resolution No. 7: Remuneration policy 79.83227% 20.16773% 108 000 471 81.57797% 0.00966%
  Special resolution No. 1.1: Directors’ fees – Board: Chairman   100.00000%   0.00000%   108 003 064   81.57993%   0.00770%
Special resolution No. 1.2: Directors’ fees – Board: Non-executive Directors 100.00000% 0.00000% 108 003 064 81.57993% 0.00770%
Special resolution No. 1.3: Directors’ fees – Audit Committee: Chairman 100.00000% 0.00000% 108 003 064 81.57993% 0.00770%
Special resolution No. 1.4: Directors’ fees – Audit Committee: Members 100.00000% 0.00000% 108 003 064 81.57993% 0.00770%
Special resolution No. 1.5: Directors’ fees – Other Board Committees: Chairman 100.00000% 0.00000% 108 003 064 81.57993% 0.00770%
Special resolution No. 1.6: Directors’ fees – Other Board Committees: Members 100.00000% 0.00000% 108 003 064 81.57993% 0.00770%
Special resolution No. 1.7: Directors’ fees – Subsidiaries’ FRRC: Chairman 100.00000% 0.00000% 108 003 064 81.57993% 0.00770%
Special resolution No. 1.8: Directors’ fees – Subsidiaries’ FRRC: Non-executive members 100.00000% 0.00000% 108 003 064 81.57993% 0.00770%
Special resolution No. 1.9: Directors’ fees – Meeting attendance fee 100.00000% 0.00000% 108 003 064 81.57993% 0.00770%
Special resolution No. 2: General authority to repurchase shares 100.00000% 0.00000% 108 003 064 81.57993% 0.00770%
Special resolution No. 3: Financial assistance to related or inter-related company 100.00000% 0.00000% 108 003 064 81.57993% 0.00770%

* Total issued share capital is 132 389 246, comprising 122 271 295 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
30 May 2016

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


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