AFROCENTRIC INVESTMENT CORP LIMITED - Results of the Annual General Meeting

Results of the Annual General Meeting

Afrocentric Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1988/000570/06)
JSE Code: ACT
ISIN: ZAE000078416
(“AfroCentric” or “the Company”)


RESULTS OF THE ANNUAL GENERAL MEETING

The board of directors of AfroCentric hereby advises that at the Annual General Meeting of
shareholders held on Friday, 5 February 2016 (“AGM”), the following resolutions, as set out in the
notice of Annual General Meeting which was incorporated in the Integrated Annual Report distributed to
shareholders on 18 December 2015 were duly approved by the requisite majority of shareholders
present (in person or represented by proxy) and voting:

Shareholders are advised of the following:

-     total number of shares in issue as at the date of the AGM: 554 377 328;
-     total number of shares that were present in person/represented including proxies at the AGM:
      398 202 613 shares being 72% of the total number of shares in issue; and
-     Abstentions are represented below as a percentage of total number of shares in issue.

Details of the results of the voting are as follows:

    
Resolution
                                          Shares voted for     Shares voted        Shares abstained
                                                                  against



Ordinary resolution number 1:

Election of Directors


1.1     Mr Hannes Boozaaier                 396 581 579           1 558 620            62 414

                                               99.61%               0.39%              0.01%

1.2     Mr Willem Britz                     396 581 579           1 558 620            62 414

                                               99.61%                0.39%              0.01%

1.3     Ms Lindani Dhlamini                  398 140 199               -               62 414

                                               100.00%                 -                0.01%


Ordinary resolution number 2:

Retirement and re-election of Directors

2.1     Mr Motty Sacks
                                            395 555 314             2 584 885         62 414

                                              99.35%                   0.65%           0.01%
2.2     Mr Meyer Kahn
                                            396 555 314             1 584 885         62 414

                                              99.60%                   0.40%           0.01%
2.3     Dr Brigalia Bam
                                            382 696 238             6 605 130        8 901 245

                                             98.30%                    1.70%           1.61%

Ordinary resolution number 3:

Appointment of Chairperson and
members of the Audit and Risk
Committee

3.1     Ms Yasmin Masithela                 398 140 199                  -             62 414
        (Chairperson)
                                              100.00%                    -              0.01%


3.2     Mr Garth Napier                     398 140 199                  -             62 414

                                              100.00%                    -              0.01%


3.3     Ms Lindani Dhlamini                 398 140 199                  -             62 414

                                              100.00%                    -              0.01%


Ordinary resolution number 4:               398 140 199                  -              62 414

Reappointment of independent external         100.00%                    -              0.01%
auditor


Ordinary resolution number 5:                368 535 454             29 604 745          62 414

General authority to issue shares for          92.56%                   7.44%            0.01%
cash
 
Ordinary resolution number 6:                378 262 599              19 877 600         62 414

Approval of the remuneration policy            95.00%                   5.00%             0.01%


Ordinary resolution number 7:                398 140 199                  -              62 414

Authority of Directors and/or Company          100.00%                    -               0.01%
Secretary


Special resolution number 1:                  398 140 199                 -               62 414

Approval of Non-executive Directors’           100.00%                    -                0.01%
remuneration


Special resolution number 2:                  380 324 908             17 815 291          62 414

General authority to repurchase shares         95.53%                   4.47%              0.01%


Special resolution number 3:                  398 140 199                 -                62 414

Financial assistance to a related or            100.00%                   -                 0.01%
interrelated company or companies


Special resolution number 4:                   398 140 199                -                62 414

Financial assistance for subscription of        100.00%                   -                 0.01%
shares to related or interrelated
companies

Special resolution number 5:
                                                398 140 199               -                62 414
Amendment of the Memorandum of
Incorporation                                     100.00%                   -                 0.01%




Johannesburg
5 February 2016


Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)

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