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Modification to Notice of Annual General Meeting
AFRICAN PHOENIX INVESTMENTS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1946/021193/06)
Ordinary share code: AXL ISIN: ZAE000221370
Hybrid instrument code: AXLP ISIN: ZAE000221388
(“Phoenix” or “the Company”)
MODIFICATION TO NOTICE OF ANNUAL GENERAL MEETING
Shareholders are referred to the notice of annual general meeting (“AGM”) as contained in the integrated
annual report that was distributed to shareholders on 3 April 2017, giving notice of the AGM of
shareholders of Phoenix to be held at 10:00 on Wednesday, 19 July 2017 (“Notice of AGM’).
Shareholders are hereby advised of the following modifications to the Notice of AGM and Form of Proxy:
Special Resolution Number 1: Non-Executive Directors’ Remuneration:
Special Resolution Number 1 has been amended to include the remuneration payable to the non-
executive directors who are members of the Investment Committee, which was erroneously omitted
from the Notice of AGM.
Accordingly, the annual remuneration payable to the non-executive directors of the Company to be
approved by shareholders in terms of Special Resolution Number 1 is as follows:
Annual Fee (payable quarterly) Approved fee Proposed fee
for the year for the year
ending 2017 ending 2018
Board
Chairperson R262 500 R300 000
Member R105 000 R150 000
Per meeting fee Fee for the year Fee for the year
ending ending
2017 2018
Board
Chairperson R52 500 R60 500
Member R42 000 R50 000
Audit and Risk Committee
Chairperson R31 500 R40 250
Member R26 250 R35 000
Remuneration, Transformation, Social and Ethics
Chairperson R31 500 R40 250
Member R26 250 R35 000
Investment Committee
Chairperson R31 500 R40 250
Member R26 250 R35 000
Special Resolution Number 4: Amendment to the Memorandum of Incorporation of the
Company:
A portion of the wording of clause 20.1 of the memorandum of incorporation was mistakenly not
underlined in the resolution so as to allow shareholders to identify the additions. Similarly, the
strikethrough of the words to be deleted from clause 21.2 of the memorandum of incorporation was
not visible in the resolution. Shareholders are referred to the amended Notice of AGM on the
Company’s website in order to view the additions and deletions proposed in terms of Special
Resolution Number 4.
Note 2 to the Form of Proxy:
The note incorrectly stated that preference shareholders would be entitled to vote on Special
Resolution Number 3. Note 2 to the Form of Proxy should read as follows:
“ 2. While preference shareholders are entitled to attend and speak at the AGM, either in person or
represented by proxy, preference shareholders shall not be entitled to vote on any resolution,
either in person or by proxy, at the AGM. Accordingly, any aspect of this form of proxy regarding
voting on any resolution does not apply to the preference shareholders. If any preference
shareholder completes any part of the voting instructions, those instructions will not apply and
will be disregarded.”
The amended notice of AGM and Form of Proxy is available on the Company’s website,
www.phoenixinvestments.co.za
Johannesburg
27 June 2017
Sponsor
Merchantec Capital
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