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Report on proceedings at the annual general meeting

Published: 2022-05-31 12:00:00 ET

AECI Limited (JSE:AFE) News - Report on proceedings at the annual general meeting

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 98th Annual General Meeting (AGM) of the shareholders of AECI held today, 31 May 2022, all the
ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes.
In this regard, AECI confirms the voting statistics from the AGM as follows:


 Resolutions                  Votes cast disclosed as a       Number of shares   Shares voted     Shares
                              percentage in relation to the   voted              disclosed as     abstained
                              total number of shares voted                       a percentage     disclosed as a
                              at the meeting                                     in relation to   percentage in
                                                                                 the total        relation to the
                              Ordinary shares (Ord)                              issued share     total issued
                              B ordinary shares (B Ord)                          capital (%)*     share capital
                                                                                 Ordinary         (%)*
                                                                                 shares (Ord)     Ordinary shares
                                                                                 B ordinary       (Ord)
                                                                                 shares (B        B ordinary
                                                                                 Ord)             shares (B Ord)
                              For (%)          Against (%)
Ordinary resolution No. 1:    96,63 Ord        3,37 Ord       88 537 420 Ord     83,91 Ord        0.02 Ord
Reappointment of              100,00 B Ord     0,00 B Ord     10 117 951 B Ord   100,00 B Ord     0.00 B Ord
independent auditor
Ordinary resolution No.       99,99 Ord        0,01 Ord       88 536 920 Ord     83,91 Ord        0,02 Ord
2.1: Re-election of Non-      100,00 B Ord     0,00 B Ord     10 117 951 B Ord   100,00 B Ord     0,00 B Ord
executive Director –
Dr KDK Mokhele
Ordinary resolution No.       99,99 Ord        0,01 Ord       88 536 920 Ord     83,91 Ord        0,02 Ord
2.2: Re-election of Non-      100,00 B Ord     0,00 B Ord     10 117 951 B Ord   100,00 B Ord     0,00 B Ord
executive Director –
Mr SA Dawson
Ordinary resolution No.       99,99 Ord        0.01 Ord       88 536 920 Ord     83.91 Ord        0.02 Ord
2.3: Re-election of Non-      100.00 B Ord     0.00 B Ord     10 117 951 B Ord   100.00 B Ord     0.00 B Ord
executive Director –
Mr WH Dissinger
Ordinary resolution No. 3:    99,99 Ord        0,01 Ord       88 536 913 Ord     83,91 Ord        0,02 Ord
Appointment of                100,00 B Ord     0,00 B Ord     10 117 951 B Ord   100,00 B Ord     0,00 B Ord
Ms PA Mishic O’Brien as a
Non-executive Director
Ordinary resolution No. 4:    99,84 Ord        0,16 Ord       88 537 413 Ord     83,91 Ord        0,02 Ord
Election of                   100,00 B Ord     0,00 B Ord     10 117 951 B Ord   100,00 B Ord     0,00 B Ord
Ms A Takoordeen as an
Executive Director
Ordinary resolution No. 5:    99,99 Ord        0,01 Ord       88 536 920 Ord     83,91 Ord        0,02 Ord
Re-election of KM Kathan      100,00 B Ord     0,00 B Ord     10 117 951 B Ord   100,00 B Ord     0,00 B Ord
as an Executive Director 
Ordinary resolution No.       99,99 Ord        0,01 Ord       88 536 913 Ord     83,91 Ord        0,02 Ord
6.1: Election of Audit        100,00 B Ord     0,00 B Ord     10 117 951 B Ord   100,00 B Ord     0,00 B Ord
Committee member –
Ms FFT De Buck
Ordinary resolution No.       99,97 Ord        0,03 Ord       88 536 913 Ord     83,91 Ord        0,02 Ord
6.2: Election of Audit        100,00 B Ord     0,00 B Ord     10 117 951 B Ord   100,00 B Ord     0,00 B Ord
Committee member –
Mr G Gomwe
Ordinary resolution No.       99,99 Ord        0,01 Ord       88 536 913 Ord     83,91 Ord        0,02 Ord
6.3: Election of Audit        100,00 B Ord     0,00 B Ord     10 117 951 B Ord   100,00 B Ord     0,00 B Ord
Committee member –
Ms AM Roets
Ordinary resolution No.       99,99 Ord        0,01 Ord       88 536 913 Ord     83,91 Ord        0,02 Ord
6.4: Election of Audit        100,00 B Ord     0,00 B Ord     10 117 951 B Ord   100,00 B Ord     0,00 B Ord
Committee member –
Ms PG Sibiya
Ordinary resolution           95,17 Ord        4,83 Ord       88 535 913 Ord     83,91 Ord        0,02 Ord
No.7.1: Remuneration          100,00 B Ord     0,00 B Ord     10 117 951 B Ord   100,00 B Ord     0,00 B Ord
Policy
Ordinary resolution           95,25 Ord        4,75 Ord       88 535 913 Ord     83,91 Ord        0,02 Ord
No.7.2: Implementation        100,00 B Ord     0,00 B Ord     10 117 951 B Ord   100,00 B Ord     0,00 B Ord
of Remuneration Policy
Ordinary resolution           99,74 Ord        0,26 Ord       88 499 692 Ord     83,87 Ord        0,06 Ord
No.8: Approval of the         100,00 B Ord     0,00 B Ord     10 117 951 B Ord   100,00 B Ord     0,00 B Ord
amended rules of the
2012 Long-term Incentive
Plan
Special resolution No. 1.1:   96,66 Ord        3,34 Ord       88 510 286 Ord     83,88 Ord        0,05 Ord
Directors’ fees and           100,00 B Ord     0,00 B Ord     10 117 951 B Ord   100,00 B Ord     0,00 B Ord
remuneration - Board:
Chairman
Special resolution No. 1.2:   99,99 Ord        0,01 Ord       88 501 349 Ord     83,87 Ord        0,05 Ord
Directors’ fees - Board:      100,00 B Ord     0,00 B Ord     10 117 951 B Ord   100,00 B Ord     0,00 B Ord
Non-executive Directors
Special resolution No. 1.3:   99,99 Ord        0,01 Ord       88 501 349 Ord     83,87 Ord        0,05 Ord
Directors’ fees - Audit       100,00 B Ord     0,00 B Ord     10 117 951 B Ord   100,00 B Ord     0,00 B Ord
Committee: Chairman
Special resolution No. 1.4:   99,99 Ord        0,01 Ord       88 501 349 Ord     83,87 Ord        0,05 Ord
Directors’ fees - Other       100,00 B Ord     0,00 B Ord     10 117 951 B Ord   100,00 B Ord     0,00 B Ord
Board Committees:
Chairman
Special resolution No. 1.5:   99,99 Ord        0.01 Ord       88 501 349 Ord     83.87 Ord        0.05 Ord
Directors’ fees - Audit       100,00 B Ord     0.00 B Ord     10 117 951 B Ord   100.00 B Ord     0.00 B Ord
Committee: member
Special resolution No. 1.6:   99,99 Ord        0,01 Ord       88 501 349 Ord     83,87 Ord        0,05 Ord
Directors’ fees - Other       100,00 B Ord     0,00 B Ord     10 117 951 B Ord   100,00 B Ord     0,00 B Ord
Board Committees:
member
Special resolution No. 1.7:   99,99 Ord        0,01 Ord       88 501 349 Ord     83,87 Ord        0,05 Ord
Directors’ fees - Meeting     100,00 B Ord     0,00 B Ord     10 117 951 B Ord   100,00 B Ord     0,00 B Ord
attendance fee (includes
ad hoc meetings)
Special resolution No. 1.8:   100,00 Ord       0,00 Ord       88 501 349 Ord     83,87 Ord        0,05 Ord
Directors’ fees - Per-trip    100,00 B Ord     0,00 B Ord     10 117 951 B Ord   100,00 B Ord     0,00 B Ord
allowance
Special resolution No. 2:     99,94 Ord        0,06 Ord       88 371 850 Ord     83,75 Ord        0,18 Ord
General authority to          100,00 B Ord     0,00 B Ord     10 117 951 B Ord   100,00 B Ord     0,00 B Ord
repurchase shares
Special resolution No. 3:     100,00 Ord       0,00 Ord       88 537 570 Ord     83,91 Ord        0,02 Ord
Financial assistance to       100,00 B Ord     0,00 B Ord     10 117 951 B Ord   100,00 B Ord     0,00 B Ord
related or inter-related
company

* The issued ordinary share capital is 105 517 780 listed ordinary shares, 10 117 951 unlisted redeemable
convertible B ordinary shares and 3 000 000 listed cumulative preference shares.

The special resolutions will, where necessary, be lodged for registration with the Companies and Intellectual
Property Commission in due course.

Woodmead, Sandton

31 May 2022

Equity and Debt Sponsor:
Rand Merchant Bank (A division of FirstRand Bank Limited)

Date: 31-05-2022 02:00:00
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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.