ASTRAL FOODS LIMITED - Feedback on engagement with shareholders

Feedback on engagement with shareholders

ASTRAL FOODS LIMITED
“Astral Foods” or “the Company”
(Reg. No. 1978/003194/06)
(Incorporated in the Republic of South Africa)
Share Code: ARL
ISIN Code: ZAE000029757

FEEDBACK ON ENGAGEMENT WITH SHAREHOLDERS

Further to the announcement released on SENS on 8 February 2018
relating to Astral Foods’ invitation to shareholders to engage
with   the  Company   on  the   Remuneration  Policy  and   the
Remuneration Implementation Report, shareholders are advised
that the telephone conference took place on Thursday 22
February 2018 as follows:

  -   Only two shareholders, holding approximately 7.6% of
      voteable shares in Astral Foods, participated in the
      telephone conference (“participating shareholders”);
  -   Both shareholders indicated that they had in fact voted in
      favour of the adoption of the Remuneration Policy and
      Remuneration Implementation Report and raised no material
      areas of concern in relation to Astral Foods’ Remuneration
      Policy and the Remuneration Implementation Report.       A
      recommendation was made by one shareholder for the Company
      to reconsider the hurdle target rates recommended for the
      allocation of the newly implemented Forfeiture Share Plan;
      and
  -   One shareholder, holding approximately 0.20% of voteable
      shares in Astral Foods, advised the Company prior to the
      telephone   conference,   that   he   voted   against  the
      Remuneration Policy due to the fact that no targets for
      the EVA bonus scheme was included in the Integrated
      Report.

Astral   Foods   has   undertaken to   formally    table the
abovementioned areas of concern at its next Human Resources,
Remuneration   and    Nominations  Committee    meeting  for
consideration.

Pretoria
22 February 2018

Nedbank Corporate and Investment Banking, a division of Nedbank
Limited
Sponsor

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