CARGO CARRIERS LIMITED - Results of Annual General Meeting

Results of Annual General Meeting

Cargo Carriers Limited
(Incorporated in the Republic of South Africa)
(Registration number 1959/003254/06)
Share code: CRG    ISIN Code: ZAE000001764
(“Cargo Carriers” or “the Company”)


RESULTS OF ANNUAL GENERAL MEETING (“AGM”)


Shareholders are advised that at the annual general meeting of shareholders held
on Thursday, 23 July 2015, all the resolutions tabled at the meeting were passed
by the requisite majority of shareholders.

Details of the results of voting at the annual general meeting are as follows:

  -   Total number of Cargo Carriers shares in issue at the date of the annual
      general meeting: 20 000 000
  -   Total number of Cargo Carriers shares that could have been voted at the
      annual general meeting on resolutions proposed pursuant to the provisions
      of the Listings Requirements (issued shares excluding 593 710 treasury
      shares): 19 406 290
  -   Total number of Cargo Carriers shares that were present/represented at the
      annual general meeting: 16 313 632, being 81.57% of the total number of
      shares in issue

Resolution proposed                     For      Against:    Abstain    Total Votes
                                          %             %      (% of     (excluding
                                                              issued   abstentions)
                                                               share
                                                            capital)

Ordinary resolution number 1 –
Acceptance of Annual financial   16 313 632             0          0
statements                              100%         0.00%      0.00%     16 313 632

Ordinary resolution number 2 –
Director Appointment –           15 947 867       365 765          0
Mr V Raseroka                         97.76%         2.24%      0.00%     16 313 632

Ordinary resolution number 3 –
Director retirement and re-      16 313 632             0          0
election – Mrs MJ Vuso                  100%         0.00%      0.00%     16 313 632

Ordinary resolution number 4 –
Director retirement and re-      15 869 310       365 765     78 557
election – Mrs BB Fraser              97.28%         2.24%      0.48%     16 235 075

Ordinary resolution number 5 –
Approval of Remuneration         16 235 075        78 557          0
Policy                                99.52%         0.48%      0.00%     16 313 632

Ordinary resolution number 6 –
Appointment and remuneration     16 313 632             0          0
of auditors                             100%         0.00%      0.00%     16 313 632

Ordinary resolution number 7 –
Appointment Audit Committee      16 313 632             0          0
member – AE Franklin                    100%         0.00%      0.00%     16 313 632

Ordinary resolution number 8 –
Appointment of Audit Committee   15 869 310       444 322          0
member – V Raseroka                   97.28%         2.72%      0.00%     16 313 632

Ordinary resolution number 9 –
Appointment of Audit Committee   16 313 632             0          0
member – MJ Vuso (Chairman)             100%         0.00%      0.00%     16 313 632

Ordinary resolution number 10 -
Appointment of audit committee   16 313 632             0          0
member – SP Mzimela                     100%         0.00%      0.00%     16 313 632

Ordinary resolution number 11 -
Approval of general
authority to allot and issue     13 086 835     3 226 797          0
shares for cash                       80.22%        19.78%      0.00%     16 313 632

Special resolution number 1 –
Approval non-Executive           16 313 632             0          0
Directors’ remuneration                 100%         0.00%      0.00%     16 313 632

Special resolution number 2 –
General authority to enter
into funding agreements,
provide loans or other           16 313 632             0          0
financial assistance                    100%         0.00%      0.00%     16 313 632

Johannesburg
24 July 2015

Sponsor
Arbor Capital Sponsors Proprietary Limited

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