TIDM87FZ
AECI LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1924/002590/06)
Share code: AFE ISIN: ZAE000000220
Hybrid code: AFEP ISIN: ZAE000000238
Bond company code: AECI
LEI: 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 Number of Shares Shares
as a shares voted abstained
percentage in relation voted disclosed disclosed as
to the total as a a percentage
number of shares percentage in relation
voted at the meeting in relation to the total
to the issued share
total capital*
issued
share
capital*
Ordinary shares ("Ord")
B ordinary shares ("B Ord")
For Against
Resolutions
Ordinary resolution No. 1: 100,00 Ord 0,00 Ord 94 218 962 77,34 Ord 0,32 Ord
Adoption of annual financial 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
statements Ord 10 117 951 Ord
B Ord
Ordinary resolution No. 2: 96,36 Ord 3,64 Ord 94 591 012 77,64 Ord 0,01 Ord
Reappointment of independent 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
auditor Ord 10 117 951 Ord
B Ord
Ordinary resolution No. 3.1: 93,90 Ord 6,10 Ord 94 590 512 77,64 Ord 0,01 Ord
Re-election of Non-executive 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
Director - Dr KDK Mokhele Ord 10 117 951 Ord
B Ord
Ordinary resolution No. 3.2: 99,96 Ord 0,04 Ord 94 590 512 77,64 Ord 0,01Ord
Re-election of Non-executive 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
Director - Adv R Ramashia Ord 10 117 951 Ord
B Ord
Ordinary resolution No. 4.1: 99,96 Ord 0,04 Ord 94 590 512 77,64 Ord 0,01 Ord
Re-election of Non-executive 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
Director - Mr SA Dawson Ord 10 117 951 Ord
B Ord
Ordinary resolution No. 4.2: 100,00 Ord 0,00 Ord 94 590 512 77,64 Ord 0,01 Ord
Re-election of Non-executive 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
Director - Ms FFT De Buck Ord 10 117 951 Ord
B Ord
Ordinary resolution No. 4.3: 99,96 Ord 0,04 Ord 94 590 512 77,64 Ord 0,01 Ord
Re-election of Non-executive 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
Director - Mr WH Dissinger Ord 10 117 951 Ord
B Ord
Ordinary resolution No. 5: 99,79 Ord 0,21 Ord 94 590 512 77,64 Ord 0,01 Ord
Re-election of Executive 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
Director Ord 10 117 951 Ord
B Ord
Ordinary resolution No. 6.1: 100,00 Ord 0,00 Ord 94 590 512 77,64 Ord 0,01 Ord
Election of Audit Committee 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
member - Ms FFT De Buck Ord 10 117 951 Ord
B Ord
Ordinary resolution No. 6.2: 100,00 Ord 0,00 Ord 94 590 512 77,64 Ord 0,01 Ord
Election of Audit Committee 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
member - Mr G Gomwe Ord 10 117 951 Ord
B Ord
Ordinary resolution No. 6.3: 100,00 Ord 0,00 Ord 94 590 512 77,64 Ord 0,01 Ord
Election of Audit Committee 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
member - Ms PG Sibiya Ord 10 117 951 Ord
B Ord
Ordinary resolution No. 7.1: 98,09 Ord 1,91 Ord 83 621 009 68,64 Ord 9,02 Ord
Remuneration Policy 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
Ord 10 117 951 Ord
B Ord
Ordinary resolution No. 7.2: 99,54 Ord 0,46 Ord 83 621 009 68,64 Ord 9,02 Ord
Implementation of Remuneration 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
Policy Ord 10 117 951 Ord
B Ord
Special resolution No. 1.1: 97,07 Ord 2,93 Ord 94 590 362 77,64 Ord 0,01 Ord
Directors' fees and 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
remuneration - Board: Chairman Ord 10 117 951 Ord
B Ord
Special resolution No. 1.2: 99,92 Ord 0,08 Ord 94 590 362 77,64 Ord 0,01 Ord
Directors' fees - Board: 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
Non-executive Directors Ord 10 117 951 Ord
B Ord
Special resolution No. 1.3: 99,93 Ord 0,07 Ord 94 590 362 77,64 Ord 0,01 Ord
Directors' fees - Audit 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
Committee: Chairman Ord 10 117 951 Ord
B Ord
Special resolution No. 1.4: 99,93 Ord 0,07 Ord 94 590 362 77,64 Ord 0,01 Ord
Directors' fees - Audit 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
Committee: members Ord 10 117 951 Ord
B Ord
Special resolution No. 1.5: 99,93 Ord 0,07 Ord 94 590 362 77,64 Ord 0,01 Ord
Directors' fees - Other Board 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
Committees: Chairman Ord 10 117 951 Ord
B Ord
Special resolution No. 1.6: 99,93 Ord 0,07 Ord 94 590 362 77,64 Ord 0,01 Ord
Directors' fees - Other Board 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
Committees: members Ord 10 117 951 Ord
B Ord
Special resolution No. 1.7: 99,92 Ord 0,08 Ord 94 590 362 77,64 Ord 0,01 Ord
Directors' fees - Meeting 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
attendance fee Ord 10 117 951 Ord
B Ord
Special resolution No. 2: 99,76 Ord 0,24 Ord 94 587 494 77,64 Ord 0,01 Ord
General authority to 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
repurchase shares Ord 10 117 951 Ord
B Ord
Special resolution No. 3: 100,00 Ord 0,00 Ord 94 590 512 77,64 Ord 0,01 Ord
Financial assistance to 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
related or inter-related Ord 10 117 951 Ord
company B Ord
Special resolution No. 4: 100,00 Ord 0,00 Ord 92 882 032 76,24 Ord 1,41 Ord
Acquisition by the Company of 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
Treasury Shares Ord 10 117 951 Ord
B Ord
Special resolution No. 5: 100,00 Ord 0,00 Ord 92 883 532 76,24 Ord 1,41 Ord
Decrease in the number of 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
securities and reduction in Ord 0,00 Pref 10 117 951 Ord 5,33 Pref
share capital ** 0,00 Pref B Ord 0,00 Pref
0 Pref
Special resolution No. 6: 100,00 Ord 0,00 Ord 92 882 032 76,24 Ord 1,41 Ord
Revocations of Special 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
Resolution number 4 if the Ord 10 117 951 Ord
Proposed Distribution lapses B Ord
or is terminated or revoked
Ordinary resolution No. 8: 99,97 Ord 0,03 Ord 92 881 882 76,24 Ord 1,41 Ord
General authority 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
Ord 10 117 951 Ord
B Ord
Ordinary resolution No. 9: 98,03 Ord 1,97 Ord 92 881 882 76,24 Ord 1,41 Ord
Ratification of Directors' 100,00 B 0,00 B Ord Ord 100,00 B 0,00 B Ord
interests Ord 10 117 951 Ord
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, Sandton
26 May 2020
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
END
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