SABVEST LIMITED - Report on proceedings at the annual general meeting

Report on proceedings at the annual general meeting

SABVEST LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/003753/06)
Share code: SBV – ordinary shares / SVN – ‘N’ ordinary shares
ISIN: ZAE000006417 – ordinary shares / ISIN: ZAE000012043 – ‘N’ ordinary
shares
("Sabvest” or “the Company”)

REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING

At the annual general meeting (“AGM”) of the shareholders of Sabvest held today, 16
May 2017, all the ordinary and special resolutions proposed at the meeting were
approved by the requisite majority of votes. In this regard, the company confirms the
voting statistics from the AGM as follows:

Shares voted in relation to the total issued share capital:

                                             Total number of
                          Total issued        shares present
                         share capital        or represented         Percentage
                                                    by proxy       shares voted
                                                  
                                                  
Ordinary shares *           17 076 804            11 924 870              69,83

‘N’ ordinary shares *       28 883 000             4 142 510              14,34


* Each ordinary share has 500 votes and each ‘N’ ordinary share has one vote.

                                             Total number of
                          Total number      Votes present or         Percentage
                              of votes        represented by    number of votes                      
                                                       proxy              voted
                                                  
                                                                   
Total number of votes    8 584 362 304         5 962 435 000              69,46


Total number of members present:             10

                                                           Votes carried disclosed as a
                                                           percentage in relation to the
                                                           total number of shares voted
Resolutions                                                at the meeting (there were
                                                           no abstentions)
                                                           
                                                           For              Against
Ordinary resolutions
   Presentation and approval of annual financial
   statements, directors’ report, audit committee         100%
1. report and social and ethics committee report for
   the year ended 31 December 2016
2. Re-election of Mr N S H Hughes                         100%

3. Re-election of Mr C S Seabrooke.                       100%

4. Re-election of Mr B J T Shongwe.                       100%

5. Re-appointment of Deloitte & Touche.                   100%

6. Election of Audit Committee members.

   6.1   N S H Hughes                                     100%

   6.2   D N M Mokhobo                                    100%

   6.3   B J T Shongwe                                    100%

   Non-binding endorsement of Remuneration
7. Policy.                                                100%
       
   Placing 1 million unissued ordinary shares and
   8,7m unissued ‘N’ ordinary shares under the            100%
8. control of the directors and general authority to
   allot and issue

9. Authority to sign all documents required.

Special resolutions

   Approval of proposed non-executive directors’
1. remuneration for the year ending 31 December           100%
   2017.

   Authority to provide financial assistance to any       100%
2. group company                                                        
   
3. General authority to repurchase shares                 100%

   Authority to provide financial assistance in terms
4. of section 44 of the Companies Act                     100%
   


The special resolutions will, where necessary, be lodged for registration with the
Companies and Intellectual Property Commission in due course.

Sandton
16 May 2017

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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