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Report on proceedings at the Annual General Meeting

Published: 2022-07-26 15:41:36 ET

Pick n Pay Stores Limited
Incorporated in the Republic of South Africa
Registration number: 1968/008034/06
Share Code: PIK
ISIN code: ZAE000005443
(“Pick n Pay”)


REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING

Shareholders are advised that the Annual General Meeting (AGM) of Pick n Pay Stores Limited was held on 26 July 2022. All resolutions
and advisory votes passed by the requisite majority.

The following information is provided:

Total issued number of ordinary shares:                                           493 450 321
Treasury shares not voted:                                                        6 408 192
Number of ordinary shares that could have been voted at the meeting:              487 042 129
Number of B ordinary shares that could have been voted at the meeting:            259 682 869
Total number of shares that could have been exercised at the meeting:             746 724 998

Total number of shares present/represented including proxies at the meeting:      696 606 731
Number of ordinary shares represented at the meeting:                             436 923 862
Number of B shares represented at the meeting:                                    259 682 869

Percentage of ordinary shares represented at the meeting (% issued shares):       89.7%
Percentage of B shares represented at the meeting:                                100.0%

Abbreviations:        ordinary shares (Ord)
                      B ordinary shares (B Ord)



Details of the results of voting at the AGM are as follows:
Resolutions                 Shares voted            Votes disclosed as a   Number of shares      Shares voted            Shares
                           disclosed as a      percentage in relation to              voted     disclosed as a        abstained
                       percentage of the      the Ord and B Ord shares                          percentage in      disclosed as
                         total number of           voted at the meeting                        relation to the    a percentage
                       shares (Ord and B                                                               relative   in relation to
                        Ord) voted at the                                                        issued share       the relative
                                 meeting                                                                capital   issued share
                                                                                               (see above for            capital
                                                                                                     details of
                                                                                                share capital)
                         FOR    AGAINST              FOR      AGAINST
Ordinary resolution   100.00%      0.00%     100.00% Ord     0.00% Ord       436 894 416 Ord      88.54% Ord         0.00% Ord
number 1:
Appointment of                              100.00% B Ord   0.00% B Ord    259 682 869 B Ord   100.00% B Ord       0.00% B Ord
external auditors
Ordinary resolution   99.65%       0.35%      99.44% Ord     0.56% Ord       436 894 336 Ord      88.54% Ord         0.00% Ord
number 2.1:
Director retirement                         100.00% B Ord   0.00% B Ord    259 682 869 B Ord   100.00% B Ord       0.00% B Ord
and re-election –
David Friedland
Ordinary resolution   93.27%       6.73%      89.28% Ord    10.72% Ord       436 895 336 Ord      88.54% Ord         0.00% Ord
number 2.2:
Director retirement                         100.00% B Ord   0.00% B Ord    259 682 869 B Ord   100.00% B Ord       0.00% B Ord
and re-election –
Aboubakar Jakoet
Ordinary resolution   99.82%       0.18%      99.72% Ord     0.28% Ord       436 895 336 Ord      88.54% Ord         0.00% Ord
number 2.3:
Director retirement                         100.00% B Ord   0.00% B Ord    259 682 869 B Ord   100.00% B Ord       0.00% B Ord
and re-election –
Annamarie van der
Merwe
Ordinary resolution   90.73%   9.27%     85.22% Ord    14.78% Ord     436 895 336 Ord      88.54% Ord     0.00% Ord
number 2.4:
Director retirement                    100.00% B Ord   0.00% B Ord   259 682 869 B Ord   100.00% B Ord   0.00% B Ord
and re-election –
Jeff van Rooyen
Ordinary resolution   97.43%   2.57%     95.90% Ord     4.10% Ord     436 894 336 Ord      88.54% Ord     0.00% Ord
number 2.5:
Director election –                    100.00% B Ord   0.00% B Ord   259 682 869 B Ord   100.00% B Ord   0.00% B Ord
Suzanne Ackerman-
Berman
Ordinary resolution   90.83%   9.17%     85.38% Ord    14.62% Ord     436 895 416 Ord      88.54% Ord     0.00% Ord
number 3.1:
Appointment of                         100.00% B Ord   0.00% B Ord   259 682 869 B Ord   100.00% B Ord   0.00% B Ord
Aboubakar Jakoet
to the audit, risk
and compliance
committee
Ordinary resolution   90.24%   9.76%     84.33% Ord    15.67% Ord     428 991 196 Ord      86.94% Ord     1.60% Ord
number 3.2:
Re-appointment of                      100.00% B Ord   0.00% B Ord   259 682 869 B Ord   100.00% B Ord   0.00% B Ord
Jeff van Rooyen to
the audit, risk and
compliance
committee
Ordinary resolution   97.39%   2.61%     95.84% Ord     4.16% Ord     436 895 416 Ord      88.54% Ord     0.00% Ord
number 3.3:
Re-appointment of                      100.00% B Ord   0.00% B Ord   259 682 869 B Ord   100.00% B Ord   0.00% B Ord
Audrey Mothupi to
the audit, risk and
compliance
committee
Ordinary resolution   98.79%   1.21%     98.07% Ord     1.93% Ord     436 894 412 Ord      88.54% Ord     0.00% Ord
number 3.4:
Re-appointment of                      100.00% B Ord   0.00% B Ord   259 682 869 B Ord   100.00% B Ord   0.00% B Ord
David Friedland to
the audit, risk and
compliance
committee
Ordinary resolution   99.99%   0.01%      99.99% Ord     0.01% Ord     436 895 412 Ord      88.54% Ord     0.00% Ord
number 3.5:
Appointment of                          100.00% B Ord   0.00% B Ord   259 682 869 B Ord   100.00% B Ord   0.00% B Ord
Mariam Cassim to
the audit, risk and
compliance
committee
Ordinary resolution   99.82%   0.18%      99.72% Ord     0.28% Ord     436 895 412 Ord      88.54% Ord     0.00% Ord
number 3.6:
Appointment of                          100.00% B Ord   0.00% B Ord   259 682 869 B Ord   100.00% B Ord   0.00% B Ord
Haroon Bhorat to
the audit, risk and
compliance
committee
Advisory vote         75.85%   24.15%     61.41% Ord    38.59% Ord     434 023 882 Ord      87.96% Ord     0.58% Ord
number 1:
Endorsement of the                      100.00% B Ord   0.00% B Ord   259 682 869 B Ord   100.00% B Ord   0.00% B Ord
remuneration policy
for the 2022 annual
financial period
Advisory vote         78.09%   21.91%     65.06% Ord    34.94% Ord     436 892 759 Ord      88.54% Ord     0.00% Ord
number 2:
Endorsement of                          100.00% B Ord   0.00% B Ord   259 682 869 B Ord   100.00% B Ord   0.00% B Ord
remuneration
implementation for
the 2022 annual
financial period
Special resolution    82.03%   17.97%     71.35% Ord    28.65% Ord     436 878 681 Ord      88.54% Ord     0.01% Ord
number 1:
Directors’ fees for                     100.00% B Ord   0.00% B Ord   259 682 869 B Ord   100.00% B Ord   0.00% B Ord
the 2023 and 2024
annual financial
periods
 Special resolution     99.58%    0.42%      99.33% Ord     0.67% Ord     436 492 369 Ord      88.46% Ord     0.08% Ord
 number 2.1:
 Financial assistance                      100.00% B Ord   0.00% B Ord   259 682 869 B Ord   100.00% B Ord   0.00% B Ord
 to related or inter-
 related companies
 Special resolution     87.81%    12.19%     80.57% Ord    19.43% Ord      436 893 838Ord      88.54% Ord     0.00% Ord
 number 2.2:
 Financial assistance                      100.00% B Ord   0.00% B Ord   259 682 869 B Ord   100.00% B Ord   0.00% B Ord
 to persons
 Special resolution     100.00%   0.00%     100.00% Ord     0.00% Ord     436 890 550 Ord      88.54% Ord     0.00% Ord
 number 3:
 Replacement of the                        100.00% B Ord   0.00% B Ord   259 682 869 B Ord   100.00% B Ord   0.00% B Ord
 Company’s
 Memorandum of
 Incorporation
 Special resolution     98.34%    1.66%      97.36% Ord     2.64% Ord     436 884 369 Ord      88.54% Ord     0.01% Ord
 number 4:
 General approval to                       100.00% B Ord   0.00% B Ord   259 682 869 B Ord   100.00% B Ord   0.00% B Ord
 repurchase
 Company shares
 Ordinary resolution    100.00%   0.00%     100.00% Ord     0.00% Ord     436 894 335 Ord      88.54% Ord     0.00% Ord
 number 4:
 Directors’ authority                      100.00% B Ord   0.00% B Ord   259 682 869 B Ord   100.00% B Ord   0.00% B Ord
 to implement
 special and ordinary
 resolutions


By order of the Board
Cape Town
26 July 2022

Sponsor: Investec Bank Limited

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

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Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.