AFRICAN PHOENIX INVESTMENTS LIMITED - Results of Annual General Meeting

Results 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”)


RESULTS OF ANNUAL GENERAL MEETING


Shareholders are advised that, at the Annual General Meeting of Phoenix held today, all the resolutions
as set out in the notice of Annual General Meeting and voted on were passed by the requisite majority of
shareholders save for:
 - “Special resolution number 2: Financial assistance for subscription of securities”; and
 - “Special resolution number 4: Amendment of Memorandum of Incorporation of the Company”.

The following ordinary resolutions were withdrawn at the Annual General Meeting:
- “Ordinary resolution number 2.4: Election of Mr Isaac Shongwe as an independent non-executive
   director”; and
- “Ordinary resolution number 2.5: Election of Mr Peter Mountford an as independent non-executive
   director”.

The number of ordinary shares voted in person or by proxy was 977 057 560, representing 68.47% of
the total issued share capital of the same class of Phoenix shares.
The resolutions proposed at the Annual General Meeting, together with the percentage of shares
abstained, as well as the percentage of votes carried for and against each resolution, are set out below:

                                                                         % of votes     % of votes        % of
                                                                     carried for the   against the      shares
 Resolution                                                              resolution     resolution   abstained
 
 Ordinary resolution number 1: Appointment of auditors                      99.75%        0.25%         1.62%

 Ordinary resolution number 2: Election of directors
 
 Ordinary resolution number 2.1: Election of Mr Morris                      67.05%       32.95%         2.55%
 Mthombeni as an independent non-executive director
 
 Ordinary resolution number 2.2: Election of Ms Alethea                     75.91%       24.09%         2.56%
 Conrad as an independent non-executive director
 
 Ordinary resolution number 2.3: Election of Mr John Evans as               76.46%       23.54%         0.25%
 an executive director
 
 Ordinary resolution number 2.6: Election of Ms Carmen Le                   74.28%       25.72%         2.56%
 Grange as an independent non-executive director
 
 Ordinary resolution number 3: Appointment of the chairman and members of the Audit and Risk Committee
 
 Ordinary resolution number 3.1: Appointment of Mr Morris                   67.06%       32.94%         2.55%
 Mthombeni as a member of the Audit and Risk Committee
 
 Ordinary resolution number 3.2: Appointment of Mr Daniël                   74.28%       25.72%         2.55%
 Vlok as a member of the Audit and Risk Committee
 
 Ordinary resolution number 3.3: Appointment of Ms Carmen                   74.27%       25.73%         2.55%
 Le Grange as a member of the Audit and Risk Committee
                                                                           
 Ordinary resolution number 4: Approval of Remuneration                     50.72%       49.28%         3.98%
 Policy
                                                                         
 Ordinary resolution number 5: Signature of documents                       75.29%       24.71%         3.94%
 
 Special resolution number 1: Approval of the non-executive                 99.69%        0.31%         3.94%
 directors’ remuneration*
 
 Special resolution number 2: Financial assistance for                      47.43%       52.57%         3.94%
 subscription of securities
 
 Special resolution number 3: Loans or other financial                      99.59%        0.41%         3.94%
 assistance to related and inter-related entities
 
 Special resolution number 4: Amendment of Memorandum of                    69.85%       30.15%         3.94%
 Incorporation of the Company

* Shareholders are advised that at the Annual General Meeting, “Special resolution number 1: Approval
of the non-executive directors’ remuneration” was modified such that the annual remuneration payable
to the non-executive directors for the year ending 2018 was not increased and accordingly, remains
unchanged from the remuneration payable to the non-executive directors for the year ending 2017.

Johannesburg
19 July 2017

Sponsor
Merchantec Capital

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