Enhanced Investments - Financial Portal

Results of the Annual General Meeting

Published: 2022-07-28 16:55:24 ET

ADCORP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1974/001804/06
Share code: ADR
ISIN: ZAE000000139
("Adcorp" or "the Company")


RESULTS OF THE ANNUAL GENERAL MEETING


Shareholders are hereby advised that at the annual general meeting of the Company held
electronically at 9:00 today, Thursday, 28 July 2022 (“AGM”), all of the resolutions were
passed by the requisite majorities of the Company’s shareholders.

Details of the results of the voting at the AGM are as follows:

Ordinary Shares
                                                 Votes
                            Votes for          against
                        resolution as    resolution as                      Number of       Number of
                        a percentage     a percentage                         ordinary        ordinary
                              of total         of total                  shares voted          shares
                           number of        number of       Number of     at AGM as a    abstained as
 Resolutions                ordinary         ordinary         ordinary     percentage    a percentage
 proposed at the        shares voted     shares voted     shares voted    of shares in    of shares in
 AGM                          at AGM           at AGM          at AGM           issue*          issue*
 Ordinary resolution
 number 1.1:
 Election of director
 – Timothy Olls               97,74%            2,26%        91362372         87,26%            0,00%
 Ordinary resolution
 number 1.2:
 Election of director
 – Samuel Sithole             97,74%            2,26%        91362372         87,26%            0,00%
 Ordinary resolution
 number 1.3:
 Re-election of
 director – Phumla
 Mnganga                      97,23%            2,77%        91362372         87,26%            0,00%
 Ordinary resolution
 number 1.4:
 Re-election of
 director – Herman
 Singh                        99,97%            0,03%        91362372         87,26%            0,00%
 Ordinary resolution
 number 1.5:
 Re-election of
 director – Gloria
 Serobe (Board
 chairman)                    94,48%            5,52%        91362372         87,26%            0,00%
 Ordinary resolution
 number 2.1:
 Re-election of audit
 and risk committee
 member – Tshidi
 Mokgabudi
 (chairman)                   99,94%            0,06%        91362372         87,26%            0,00%
Ordinary resolution
number 2.2:
Re-election of audit
and risk committee
member – Herman
Singh                  97,74%   2,26%   91362372   87,26%    0,00%
Ordinary resolution
number 2.3:
Re-election of audit
and risk committee
member – Ronel
van Dijk               99,97%   0,03%   91362372   87,26%    0,00%
Ordinary resolution
number 2.4:
Re-election of audit
and risk committee
member – Melvyn
Lubega                 99,97%   0,03%   91362372   87,26%    0,00%
Ordinary resolution
number 3:
Appointment of
independent
external auditor       99,78%   0,22%   91362372   87,26%    0,00%
Ordinary resolution
number 4:
Place 2 000 000 of
the authorised but
unissued ordinary
shares under the
control of the
directors              94,63%   5,37%   91362372   87,26%    0,00%
Ordinary resolution
number 5:
Non-binding
advisory vote on
the remuneration
policy                 91,70%   8,30%   73838957   70,52%   16,74%
Ordinary resolution
number 6:
Non-binding
advisory vote on
the remuneration
implementation
report                 92,99%   7,01%   73838957   70,52%   16,74%
Ordinary resolution
number 7:
Authority to
implement
resolutions passed
at the AGM             99,97%   0,03%   91362372   87,26%    0,00%
Special resolution
number 1:
Remuneration
payable to non-
executive directors    97,41%   2,59%   91362372   87,26%    0,00%
Special resolution
number 2:
Repurchase of the
Company’s shares       98,93%   1,07%   91362372   87,26%    0,00%
Special resolution     96,26%   3,74%   91362372   87,26%    0,00%
number 3:
Financial
assistance for the
provision of loans
or other financial
assistance to
present or future
related and inter-
related companies

B Ordinary Shares
                                                Votes
                           Votes for          against
                       resolution as    resolution as                   Number of B     Number of B
                       a percentage     a percentage                         ordinary        ordinary
                             of total         of total                  shares voted          shares
                        number of B      number of B     Number of B     at AGM as a    abstained as
Resolutions                ordinary         ordinary         ordinary     percentage    a percentage
proposed at the        shares voted     shares voted     shares voted    of shares in    of shares in
AGM                          at AGM           at AGM          at AGM           issue*          issue*
Ordinary resolution
number 1.1:
Election of director
– Timothy Olls              100,00%            0,00%         6729140        100,00%            0,00%
Ordinary resolution
number 1.2:
Election of director
– Samuel Sithole            100,00%            0,00%         6729140        100,00%            0,00%
Ordinary resolution
number 1.3:
Re-election of
director – Phumla
Mnganga                     100,00%            0,00%         6729140        100,00%            0,00%
Ordinary resolution
number 1.4:
Re-election of
director – Herman
Singh                       100,00%            0,00%         6729140        100,00%            0,00%
Ordinary resolution
number 1.5:
Re-election of
director – Gloria
Serobe (Board
chairman)                   100,00%            0,00%         6729140        100,00%            0,00%
Ordinary resolution
number 2.1:
Re-election of audit
and risk committee
member – Tshidi
Mokgabudi
(chairman)                  100,00%            0,00%         6729140        100,00%            0,00%
Ordinary resolution
number 2.2:
Re-election of audit
and risk committee
member – Herman
Singh                       100,00%            0,00%         6729140        100,00%            0,00%
Ordinary resolution
number 2.3:                 100,00%            0,00%         6729140        100,00%            0,00%
Re-election of audit
and risk committee
member – Ronel
van Dijk
Ordinary resolution
number 2.4:
Re-election of audit
and risk committee
member – Melvyn
Lubega                 100,00%   0,00%   6729140   100,00%   0,00%
Ordinary resolution
number 3:
Appointment of
independent
external auditor       100,00%   0,00%   6729140   100,00%   0,00%
Ordinary resolution
number 4:
Place 2 000 000 of
the authorised but
unissued ordinary
shares under the
control of the
directors              100,00%   0,00%   6729140   100,00%   0,00%
Ordinary resolution
number 5:
Non-binding
advisory vote on
the remuneration
policy                 100,00%   0,00%   6729140   100,00%   0,00%
Ordinary resolution
number 6:
Non-binding
advisory vote on
the remuneration
implementation
report                 100,00%   0,00%   6729140   100,00%   0,00%
Ordinary resolution
number 7:
Authority to
implement
resolutions passed
at the AGM             100,00%   0,00%   6729140   100,00%   0,00%
Special resolution
number 1:
Remuneration
payable to non-
executive directors    100,00%   0,00%   6729140   100,00%   0,00%
Special resolution
number 2:
Repurchase of the
Company’s shares       100,00%   0,00%   6729140   100,00%   0,00%
Special resolution
number 3:
Financial
assistance for the
provision of loans
or other financial
assistance to
present or future      100,00%   0,00%   6729140   100,00%   0,00%
 related and inter-
 related companies

Note:
* Total number of shares in issue as at the date of the AGM was 116 683 815 (including
5 255 134 Treasury Shares which were excluded from voting), of which 109 954 675 were
Ordinary Shares and 6 729 140 were B Ordinary Shares.

Johannesburg
28 July 2022

Sponsor
PSG Capital

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

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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.