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Afe - Aeci Limited - Report On Proceedings At Annual General Meeting

Release Date: 26/05/2008 10:59:02      Code(s): AFE
AFE - AECI Limited - Report On Proceedings At Annual General Meeting            
AECI LIMITED                                                                    
Incorporated in the Republic of South Africa                                    
(Registration No. 1924/002590/06)                                               
Share code:  AFE & ISIN No. ZAE000000220                                        
("AECI" or "the Company")                                                       
REPORT ON PROCEEDINGS AT ANNUAL GENERAL MEETING                                 
The Board of directors advises that, at the annual general meeting of           
shareholders held at the registered office of the Company today, all the        
ordinary resolutions as set out in the notice of annual general meeting         
contained in the Company`s 2007 annual financial statements were duly passed by 
the requisite majority votes, save for Ordinary Resolution No. 6 which was      
withdrawn by the Chairman at the commencement of the meeting. This Ordinary     
Resolution is no longer relevant, since the Company has purchased call options  
over AECI ordinary shares which will obviate the need for the Company to issue  
new shares in terms of the AECI share option scheme.                            
The special resolution granting a general mandate to the directors to conduct   
share buy-backs at the appropriate time and within prescribed limits was        
similarly adopted, and will be sent to CIPRO for registration.                  
By order of the Board                                                           
A Kennedy                                                                       
Secretary                                                                       
Woodmead, Sandton                                                               
26 May 2008                                                                     
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 26/05/2008 10:59:01 Supplied by www.sharenet.co.za                     
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