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A E C I Limited - Report On Proceedings At The Annual General Meeting

Release Date: 01/06/2015 14:00:00      Code(s): AFE     
AECI LIMITED
Incorporated in the Republic of South Africa
(Registration Number 1924/002590/06)
Share code: AFE
ISIN: ZAE000000220
(?AECI? or ?the Company?)

REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING

At the 91st annual general meeting (?AGM?) of the shareholders of AECI held today, 1 June 2015, all the ordinary and special resolutions proposed at
the meeting were approved by the requisite majority of votes. In this regard, the Company confirms the voting statistics from the AGM as follows:
                                                                        

                                                       Votes carried as a                                                Shares
                                                       percentage of the total                      Shares voted as a    abstained as a
                                                       number of shares voted                       percentage of the    percentage of
                                                       at the meeting            Number of shares   total issued share   the total issued
Resolutions                                                                      voted              capital*             share capital*

                                                       For         Against
Ordinary resolution No. 1: Adoption of annual
                                                       100,00000   0,00000       114 790 527        82,9657              0,04595
financial statements
Ordinary resolution No.2: Reappointment of
                                                       100,00000   0,00000       114 850 105        83,0087              0,00289
independent auditors
Ordinary resolution No. 3.1: Re-election of Non-
                                                       100,00000   0,00000       114 850 105        83,0087              0,00289
executive Directors ? Mr S Engelbrecht
Ordinary resolution No. 3.2: Re-election of Non-
                                                        99,92623   0,07377       114 455 869        82,7238              0,28783
executive Directors ? Ms LL Mda
Ordinary resolution No. 3.3: Re-election of Non-
                                                        99,92623   0,07377       114 455 869        82,7238              0,28783
executive Directors ? Mr LM Nyhonyha
Ordinary resolution No.4: Appointment of Director      100,00000   0,00000       114 455 869        82,7238              0,28783
Ordinary resolution No. 5: Re-election of Executive
                                                       100,00000   0,00000       114 850 105        83,0087              0,00289
Director
Ordinary resolution No. 6.1: Election of Audit
                                                       100,00000   0,00000       114 850 105        83,0087              0,00289
Committee members ? Mr RMW Dunne
Ordinary resolution No. 6.2: Election of Audit
                                                       100,00000   0,00000       114 850 105        83,0087              0,00289
Committee members ? Mr RL Hiemstra
Ordinary resolution No. 6.3: Election of Audit
                                                       100,00000   0,00000       114 850 105        83,0087              0,00289
Committee members ? Mr AJ Morgan
Ordinary resolution No. 6.4: Election of Audit
                                                       100,00000   0,00000       114 455 869        82,7238              0,28783
Committee members ? Mr LM Nyhonyha
Ordinary resolution No. 7: Remuneration policy          76,37937  23,62021       114 006 069        82,3987              0,61292
Special resolution No. 1.1: Directors? fees ? Board:
                                                        99,94921   0,05079       114 850 105        83,0087%             0,00289
Chairman
Special resolution No. 1.2: Directors? fees ? Board:
                                                       100,00000   0,00000       114 850 105        83,0087%             0,00289
Non-executive Directors
Special resolution No. 1.3: Directors? fees ? Audit
                                                       100,00000   0,00000       114 850 105        83,0087%             0,00289
Committee: Chairman
                                                                        
Special resolution No. 1.4: Directors? fees ? Audit
                                                       100,00000    0,00000         114 850 105     83,0087              0,00289
Committee: Members
Special resolution No. 1.5: Directors? fees ? Other
                                                       100,00000    0,00000         114 850 105     83,0087              0,00289
Board Committees: Chairman
Special resolution No. 1.6: Directors? fees ? Other
                                                       100,00000    0,00000         114 850 105     83,0087              0,00289
Board Committees: Members
Special resolution No. 1.7: Directors? fees ?
                                                       100,00000    0,00000         114 850 105     83,0087              0,00289
Subsidiaries? FRRC: Chairman
Special resolution No. 1.8: Directors? fees ?
                                                       100,00000    0,00000         114 850 105     83,0087              0,00289
Subsidiaries? FRRC: Non-executive members
Special resolution No. 1.9: Directors? fees ?
                                                       100,00000    0,00000         114 850 105     83,0087              0,00289
Meeting attendance fee
Special resolution No. 1.10: Directors? fees ? Ad
                                                       86,57112    13,42888         114 839 079     83,0087              0,01086
hoc service fee
Special resolution No. 2: General authority to
                                                       99,97818     0,02182         114 842 075     83,0029              0,00869
repurchase shares
Special resolution No. 3: Financial assistance to
                                                      100,00000     0,00000         114 850 105     83,0087              0,00289
related or inter-related company

*Total issued share capital is 138 359 091, comprising 128 241 140 listed ordinary shares and 10 117 951 unlisted redeemable convertible B ordinary
shares.

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

Woodmead, Sandton
1 June 2015

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 01/06/2015 02:00:00 Supplied by www.sharenet.co.za                     
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