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Results of the Annual General Meeting
ADvTECH Limited
(Incorporated in the Republic of South Africa)
(Registration number 1990/001119/06)
Share code: ADH ISIN: ZAE000031035
(“ADvTECH” or “the Company”)
RESULTS OF THE ANNUAL GENERAL MEETING
In terms of section 3.91 of the JSE Listings Requirements, shareholders are hereby advised that at the
annual general meeting (“AGM”) of shareholders of the Company held today, Thursday 18 May 2023,
all the proposed ordinary and special resolutions, as set out in the notice of annual general meeting
contained in the Integrated Annual Report, were approved by the requisite majority of shareholders
present or represented by proxy.
Details of the results of voting at the annual general meeting are as follows:
Ordinary shares:
Total number of issued ordinary shares: 554 459 991
Total number of issued ordinary shares net of 554 459 991
treasury shares:
Total Votable Ordinary Shares 554 459 991
The meeting was attended by shareholders representing 424 456 466 ADvTECH shares which
amounted to 76.55% of the total ordinary issued share capital of ADvTECH, voting in person or by proxy.
The resolutions proposed at the AGM, together with the percentage of shares abstained (as a
percentage of total issued share capital of the Company), as well as the percentage of votes carried for
and against each resolution (as a percentage of shares voted), are as follows:
1. Ordinary resolution number 1: Adoption of annual financial statements
FOR AGAINST ABSTAIN
423 177 374 568 359 710 733
99.87% 0.13% 0.13%
2. Ordinary resolution number 2: Confirmation of appointment of DL Smith
FOR AGAINST ABSTAIN
421 967 913 1 540 964 947 589
99.64% 0.36% 0.17%
3. Ordinary resolution number 3: Confirmation of appointment of SW van Graan
FOR AGAINST ABSTAIN
421 967 913 1 540 556 947 997
99.64% 0.36% 0.17%
4. Ordinary resolution number 4: Confirmation of appointment of A Watson
FOR AGAINST ABSTAIN
411 726 781 11 781 688 947 997
97.22% 2.78% 0.17%
5. Ordinary resolution number 5: Re-election of C Boulle
FOR AGAINST ABSTAIN
408 997 997 14 510 472 947 997
96.57% 3.43% 0.17%
6. Ordinary resolution number 6: Re-election of CB Thomson
FOR AGAINST ABSTAIN
421 959 521 1 549 356 947 589
99.63% 0.37% 0.17%
7. Ordinary resolution number 7: Re-election of MM Nkosi
FOR AGAINST ABSTAIN
423 486 959 1 710 967 797
100% 0.00% 0.17%
8. Ordinary resolution number 8: Extension of C Boulle’s appointment
FOR AGAINST ABSTAIN
408 986 997 14 501 672 967 797
96.58% 3.42% 0.17%
9. Ordinary resolution number 9: Re-election of KDM Warburton as member and chairman of the
Audit and Risk Committee
FOR AGAINST ABSTAIN
421 947 148 1 550 321 958 997
99.63% 0.37% 0.17%
10. Ordinary resolution number 10: Re-election of JS Chimhanzi as member of the Audit and Risk
Committee
FOR AGAINST ABSTAIN
409 249 687 14 248 190 958 589
96.64% 3.36% 0.17%
11. Ordinary resolution number 11: Re-election of CB Thomson as member of the Audit and Risk
Committee
FOR AGAINST ABSTAIN
421 948 521 1 549 356 958 589
99.63% 0.37% 0.17%
12. Ordinary resolution number 12: Election of A Watson as member of the Audit and Risk Committee
FOR AGAINST ABSTAIN
411 715 781 11 781 688 958 997
97.22% 2.78% 0.17%
13. Ordinary resolution number 13: Appointment of external auditors
FOR AGAINST ABSTAIN
423 772 661 1 618 682 187
100% 0.00% 0.12%
14. Ordinary resolution number 14: Signature of documents
FOR AGAINST ABSTAIN
423 772 104 2 175 682 187
100% 0.00% 0.12%
15. Non-binding advisory vote number 1 – Remuneration policy
FOR AGAINST ABSTAIN
408 163 247 15 602 102 691 117
96.32% 3.68% 0.12%
16. Non-binding advisory vote number 2 – Implementation report
FOR AGAINST ABSTAIN
410 638 846 13 135 303 682 317
96.90% 3.10% 0.12%
17. Special resolution number 1: Approval of non-executive directors’ fees
FOR AGAINST ABSTAIN
423 713 002 63 347 680 117
99.99% 0.01% 0.12%
18. Special resolution number 2: Authority to give loans or financial assistance to subsidiaries and
related or inter-related companies
FOR AGAINST ABSTAIN
416 872 138 6 912 046 672 282
98.37% 1.63% 0.12%
19. Special resolution number 3: General authority to acquire the company’s own shares
FOR AGAINST ABSTAIN
405 315 740 18 469 409 671 317
95.64% 4.36% 0.12%
In a business update to shareholders at the AGM, Group CEO, Roy Douglas, indicated that the business
has maintained its positive momentum and performing in line with expectations.
Enrolment numbers across schools and tertiary divisions, as published in March 2023, were pleasing.
Enrolments in the rest of Africa maintained double digit growth. The Group is also encouraged by the
completion of the remediation work relating to debtors within the tertiary division which arose in the prior
year. The Group has collected R245m of the tertiary debtors that were outstanding at the year-end, and
the system issues have been largely resolved.
The economic environment remains challenging with the combination of sustained loadshedding, rising
interest rates and inflationary pressures negatively impacting consumers. However, the business
remains well positioned and sufficiently robust to continue delivering in line with its strategy.
18 May 2023
Sandton
Sponsor: Bridge Capital Advisors Proprietary Limited
Date: 18-05-2023 03:00:00
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