African Rainbow Capital Investments (JSE:AIL) News - Report on proceedings at the annual general meeting

African Rainbow Capital Investments Limited
(Incorporated in the Republic of Mauritius
(Registration number C148430)
Share code: AIL
ISIN: MU0553S00000
("ARC Investments" or "the Company")

REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING

At the fourth (4th) Annual General Meeting ("AGM") of the shareholders of ARC Investments held on Monday 15 November 2021, all the ordinary resolutions and the
one special resolution proposed at the AGM were approved by the requisite majority of votes. In this regard, the Company confirms the voting statistics from the AGM
as follows:

                                                                Number of votes (one vote per one A ordinary share)
                                              Votes cast disclosed as a            Number of           Shares voted             Shares abstained
                                          percentage in relation to the total     shares voted         disclosed as a           disclosed as a
                                           number of shares voted at the                               percentage in            percentage in
Resolutions                                           meeting                                          relation to the total    relation to the total
                                                                                                       issued shares*           issued shares*

                                                       For           Against
Ordinary resolution 1 
Consideration and approval of the                     100%            0.00%      1,016,144,923              77.11%                  0.03%
Audited Annual Financial Statements
for the year ended 30th June 2021
Ordinary resolution 2
Election and re-election of Directors
2.1 Election and re-election of Mr C                  100%            0.00%      1,016,153,023              77.11%                  0.03%
Msipha as a Director
2.2 Election and re-election of Mr A                  100%            0.00%      1,016,150,633              77.11%                  0.03%
Currimjee as a Director
Ordinary Resolution 3
Election of members of the Audit
Committee
3.1 Election of Dr R Mokate as a                    83.10%           16.90%      1,013,612,222              76.92%                  0.23%
member of the Audit Committee
3.2 Election of Mr C Msipha as a                      100%            0.00%      1,016,153,023              77.11%                  0.03%
member of the Audit Committee
3.3 Election of Mr A Currimjee as a                   100%            0.00%      1,016,150,633              77.11%                  0.03%
member of the Audit Committee
3.4 Election of Ms S Bissonauth as a                81.52%           18.48%      1,013,571,532              76.92%                  0.23%
member of the Audit Committee
Ordinary Resolution 4
Re-appointment of auditors
4.1 Re-appointment of                                 100%            0.00%      1,016,153,223              77.11%                  0.03%
PricewaterhouseCoopers Inc. as an
auditor of the Company in South Africa
4.2 Re-appointment of                                 100%            0.00%      1,016,153,223              77.11%                  0.03%
PricewaterhouseCoopers as an auditor
of the Company in Mauritius
Ordinary Resolution 5
General authority for directors to allot            99.45%            0.55%      1,016,153,023              77.11%                  0.03%
and issue A-ordinary shares for cash
Ordinary Resolution 6
Non-binding advisory vote on the                    99.98%            0.02%      1,016,268,489              77.12%                  0.02%
Company’s remuneration policy
Ordinary Resolution 7
Non-binding advisory vote on the                    99.98%            0.02%      1,016,268,489              77.12%                  0.02%
Company’s remuneration
implementation report
Ordinary Resolution 8
Approval of remuneration payable to                 99.98%            0.02%      1,016,281,099              77.12%                  0.02%
non-executive directors
Special Resolution 1
Repurchase of Company’s shares                      99.75%            0.25%      1,016,213,238              77.12%                  0.03%

*Total issued shares is 1,317,774,987 A ordinary shares.

The above results of the AGM will be lodged with the Financial Services Commission in Mauritius on 17 November 2021.

Ebene, Mauritius (with simultaneous circulation in Johannesburg)
17 November 2021

For further information please contact:
Company Secretary
Intercontinental Trust Limited
Tel: +230 430 0800

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Tel: +27 11 282 8231

Date: 17-11-2021 07:30:00
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