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Correction of errors to notice of annual general meeting and proxy
Clover Industries Limited
Incorporated in the Republic of South Africa)
Registration number 2003/030429/06)
Ordinary Share code: CLR
NSX Ordinary Share code: CLN
ISIN No: ZAE000152377
(“Clover” or “the Company”)
CORRECTION OF ERRORS TO NOTICE OF ANNUAL GENERAL MEETING AND PROXY
Shareholders are referred to the announcement released over SENS
on 22 September 2016 in terms of which:-
- Shareholders were advised that the Company’s Integrated
Annual Report with summary annual financial statements
(“Summary Integrated Report”) was distributed to
shareholders on, 22 September 2016 and contained no
modifications to the audited results which were published
on SENS on 13 September 2016; and
- Notice was given that the annual general meeting of
Clover’s shareholders will be held at 200 Constantia Drive,
Constantia Kloof on Monday, 28 November 2016 at 10h00 to
transact the business as stated in the annual general
meeting notice forming part of the Summary Integrated
Report (“Notice of AGM”).
Shareholders are advised that the Notice of AGM contains two
errors as follows:
a) in that the date referred to in paragraph 7.1 of Ordinary
Resolution 7 is stated as being 28 November 2016, and not 28
November 2017 as previously stated; and
b) in that the increase in remuneration referred to in paragraph
2.3 of Special Resolution number 2: Remuneration of Non-
executive Directors is stated as being a 6% (six percent)
increase from that which was payable to Non-executive
Directors for their services as Directors of the Company for
the period 1 July 2015 to 30 June 2016, and not a 0% (zero
percent) increase as previously stated.
Shareholders are further advised that the correct reading of the
above paragraphs are as follows:
7. Ordinary resolution number 7:
7.1 Resolution
To approve the election of Mr TA Wixley, who is an independent
non-executive director of the Company, to Audit and Risk
Committee for that period of the 2017 financial year of the
Company commencing on 1 July 2016 and ending on 28 November
2016 and to ratify the actions taken by Mr TA Wixley in
anticipation of his election for that period. Mr TA Wixley will
not hold himself available for re-election at the Annual
General Meeting and will therefore retire as a director on 28
November 2016. As is evident from Mr TA Wixley’s biography
(which appears below), he had the required qualifications and
experience to fulfil his duties as committee member.
2. Special Resolution number 2: Remuneration of Non-Executive
Directors
2.3 Explanation
The reason for and the effect of this special resolution is to
grant the Company the authority to pay remuneration to its Non-
executive Directors for their services as Directors of the
Company for the period 1 July 2016 to 30 June 2017. The
remuneration specified herein has increased by 6% (six percent)
from that which was payable to Non-executive Directors for
their services as Directors of the Company for the period 1
July 2015 to 30 June 2016. The Chairman’s and lead Independent
Director’s total fees include the Board and all committee
memberships.
Johannesburg
6 October 2016
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
NSX Sponsor
IJG Securities
Date: 06/10/2016 10:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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