LABAT AFRICA LIMITED - Results of Annual General Meeting and Change to the Board of Directors

Results of Annual General Meeting and Change to the Board of Directors

LABAT AFRICA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1986/001616/06)
(“Labat” or “the Company”)
ISIN Code: ZAE 000018354 Share code: LAB


RESULTS OF ANNUAL GENERAL MEETING (“AGM”) AND CHANGE TO BOARD OF DIRECTORS


Further to the announcement released on SENS on 28 February 2017, shareholders are advised that at the
AGM of Labat held on 02 May 2017, convened in terms of the notice of AGM contained in the Annual Report,
the voting information is as follows:

Number of ordinary shares represented at the meeting                                            137 990 498
Total issued number of ordinary shares                                                          259 202 297
Percentage of ordinary shares represented at the meeting                                             53.24%

The resolutions proposed at the annual general meeting, together with the percentage of votes carried for
and against each resolution, are set out below:

                                                                      Number of votes
                                                          For        Against          Abstain    Total Votes
                                                            %              %     (% of issued     (excluding
                                                                               share capital)   abstentions)
 Ordinary Resolution Number 1 –                   121 146 420              0       16 844 078    121 146 420
 Approval of Financial Statements                   (100.00%)        (0.00%)         (12.21%)

 Ordinary Resolution Number 2 –                   121 146 420         49 806       16 794 272    121 151 326
 Re-appointment of Auditors                          (99.96%)        (0.04%)         (12.17%)

 Ordinary Resolution Number 3 –                    13 306 582    124 181 903          502 013    137 488 485
 Director retirement and re-election                  (9.68%)       (90.32%)          (0.36%)
 Mr Brian Jacobs

 Ordinary Resolution Number 4 –                   121 196 226              0       16 794 272    121 196 226
 Re-appointment of Audit Committee                  (100.00%)        (0.00%)         (12.17%)
 member – Mrs Rowena Majiedt

 Ordinary Resolution Number 5 –                    13 356 388    124 181 903         452 207     137 538 291
 Re-appointment of Audit Committee                    (9.71%)       (90.29%)         (0.33%)
 member – Mr Brian Jacobs

 Ordinary Resolution Number 6 –                   121 196 226              0       16 794 272    121 196 226
 Re-appointment of Audit Committee                   (100.00%)        (0.00%)         (12.17%)
 member – Mr Dawood Asmal
 
 Ordinary Resolution Number 7 –                  110 311 734      10 884 492       16 794 272    121 196 226
 Approval of non-binding Remuneration               (91.02%)         (8.98%)         (12.17%)
 Policy

 Ordinary resolution Number 8 -                  109 911 734      10 884 492       17 194 272    120 796 226
 Approval to issue ordinary shares for cash         (90.99%)         (9.01%)         (12.46%)

 Special Resolution Number 1 –                   120 396 226         400 000       16 794 272    120 796 226
 Non-Executive Directors’ Remuneration              (99.67%)         (0.33%)         (12 17%)

 Special Resolution Number 2 –                   120 396 226               0       17 194 272    120 396 226
 General authority to enter into funding           (100.00%)         (0.00%)         (12.46%)
 agreements, provide loans or other
 financial assistance

 Special Resolution Number 3 –                   120 796 226               0       16 794 272    120 796 226
 General authority to repurchase the               (100.00%)         (0.00%)         (12.17%)
 Company’s securities

 Ordinary resolution number 9 – Signature        120 746 420               0       16 391 871    120 746 420
 of documents                                      (100.00%)         (0.00%)         (11.88%)


The re-election of Mr B Jacobs as a director and appointment as an audit committee member was not
approved.The board would like to thank Mr Jacobs for his years of service on the board and look forward to
exploring other initiatives with him in the future.

By order of the board.

Johannesburg
03 May 2017

Sponsor
Arbor Capital Sponsors Proprietary Limited

Date: 03/05/2017 05:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.