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Revised Notice of Annual General Meeting and Changes to the Board
SAFARI INVESTMENTS RSA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2000/015002/06
Share code: SAR
ISIN: ZAE000188280
(Approved as a REIT by the JSE)
(“Safari” or “the Company” or “the Group”)
REVISED NOTICE OF ANNUAL GENERAL MEETING (“AGM”) AND CHANGES TO THE
BOARD
REVISED NOTICE OF ANNUAL GENERAL MEETING
Shareholders of the Company (“Shareholders”) are hereby advised that the Company has
published and distributed to Shareholders a revised notice of AGM today, 14 August 2020,
which notice incorporates revised resolutions (“Revised AGM Notice”). The Revised AGM
Notice is also available on the Company's website at www.safari-investments.com/investor-
relations and the key revisions are summarised below.
SUMMARY OF CHANGES
In light of the changes to the board of directors announced by the Company further in this
SENS announcement and in the SENS announcement of 17 July 2020 which have occurred
subsequent to the issue of the initial AGM notice issued on 13 July 2020 ("Original AGM
Notice"), the following resolutions proposed to be tabled for consideration at the AGM have
been removed, revised or added accordingly:
Removed resolutions:
• Ordinary resolutions numbered 1 and 2 of the Original AGM Notice offering
Dr M Minaar and Mr AE Wentzel for re-election, and ordinary resolutions numbered
7 and 8 of the Original AGM Notice proposing such persons for appointment to the
audit and risk committee have been removed, since both directors will resign with
effective date being 14 September 2020;
Revised resolutions:
• Ordinary resolutions numbered 3 and 4 of the Original AGM Notice proposing to effect
the appointment respectively of Mr GJ Heron and Dr P Pienaar as directors of the
Company have been revised to reflect a proposal to now confirm their appointment,
such persons having already been appointed to the board to fill vacancies. These
revised resolutions are now numbered ordinary resolutions 1 and 2 respectively in the
Revised AGM Notice;
Additional resolutions:
• Ordinary resolutions numbered 3 and 4 of the Revised AGM Notice propose the
appointment respectively of Mr M Muller and Ms T Ramuedzisi as new directors of
the Company;
• Ordinary resolution numbered 5 of this Revised AGM Notice proposes the re-election
of Mr K Pashiou as a director of the Company, he now having retired by rotation in
accordance with the Company's MOI, and that such re-election be as a non-executive
director;
• In order to fully constitute the audit and risk committee, ordinary resolutions numbered
8 and 9 of the Revised AGM Notice now respectively propose the appointment of
Dr P Pienaar and Mr C Roberts as members of the audit and risk committee.
The remaining resolutions proposed to be tabled for consideration at the AGM as set out in
the Original AGM Notice remain as proposed therein, re-numbered as applicable.
ADMINISTRATIVE MATTERS
The AGM will remain accessible only through electronic participation and will still be held at
14h00 on Monday, 14 September 2020 to transact the business as set out in the notice of
AGM which forms part of the Company’s Integrated Report, which report was distributed to
Shareholders on 13 July 2020, together with the additional matters addressed in the Revised
AGM Notice.
The date on which Shareholders must be recorded as such in the share register of the
Company to be eligible to vote at the AGM remains Friday, 4 September 2020, with the last
day to trade remaining Tuesday, 1 September 2020.
Shareholders who have already submitted their forms of proxy to the Company’s transfer
secretaries, Computershare Investor Services, are encouraged to submit a new or additional
form of proxy in the form of their choice or by using the updated form that forms part of the
Revised AGM Notice. Votes and voting instructions reflected on such prior forms of proxy
will remain applicable to the proposed resolutions which remain unchanged (i.e. those which
have not been added or amended), and any general authority therein to vote on additional or
amended resolutions will be voted in accordance with such instructions on the additional and
amended resolutions. Shareholders are however advised that under the form of proxy
supplied under the Original AGM Notice, no general authority is provided for and, as such,
the chairman will not be in a position to vote on the new and amended resolutions without an
additional or revised proxy being provided.
CHANGES TO THE BOARD
Shareholders are referred to the SENS announcement published on 17 July 2020 wherein it
was announced that Mr GJ Heron and Dr P Pienaar had been appointed as independent
non-executive directors of Safari with immediate effect. Shareholders were informed via
SENS announcements published on 22 June 2020 and 17 July 2020 that Messrs AE Wentzel
and M Minnaar will step down as directors at or before the upcoming AGM. Messrs AE
Wentzel and M Minnaar tendered their resignation with last effective date being 14
September 2020. The board extends a big thank you to Messrs AE Wentzel and M Minnaar
for their valuable contributions made during their tenure at Safari and wish them well with
their future endeavours. Consequently, the board appointed Mr GJ Heron as the independent
non-executive chairman of the board with effect from 15 September 2020.
Furthermore, Mr C Roberts and Ms FN Khanyile intend to step down from the board if suitable
additional independent director/s proposed in the Revised AGM Notice (ordinary resolutions
3 and 4 respectively) are appointed by shareholders at the AGM, or if the composition of the
board is otherwise such as to retain continuity of compliance with the requirements of King
IV, the Companies Act and the JSE Listings Requirements.
In addition, Mr K Pashiou, chief operating officer, has been reclassified as a non-executive
director with immediate effect. Mr Pashiou has been assisting Safari with its operations in a
part time executive role. Mr Pashiou will stand for re-election at the upcoming AGM as a non-
executive director.
Pretoria
14 August 2020
Sponsor
PSG Capital
Date: 14-08-2020 10:00:00
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