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Results of the 89th Annual General Meeting
Mr Price Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1933/004418/06)
ISIN: ZAE000200457
LEI number: 378900D3417C35C5D733
JSE and A2X Share Code: MRP
("Mr Price Group" or "the Group")
RESULTS OF THE 89th ANNUAL GENERAL MEETING
Shareholders are advised that, at the Mr Price Group Annual General Meeting (“AGM”) held yesterday, Wednesday, 24 August 2022, ordinary resolutions 1 – 10 and
special resolutions 1 - 3 as set out in the notice of AGM dated 15 July 2022 were passed by the requisite majority of votes of shareholders present in person or
represented by proxy and that ordinary resolution 11 (general issue of shares for cash) did not receive the requisite majority of votes.
The total number of shares present or represented, including by proxy, at the AGM was 75.71% of the Group’s issued share capital* as at Friday 19 August 2022, being
the AGM voting record date. The voting results were as follows:
Votes cast as a Votes cast as a % of the Shares voted as a Shares abstained
combined % of number of shares voted at Number of % of issued share as a % of issued
the total number the meeting shares voted capital* share capital*
of shares voted Ordinary shares (“Ord”) Ordinary shares Ordinary shares
(Ordinary shares B ordinary shares (“B Ord”) (“Ord”) (“Ord”)
Resolutions and B ordinary B ordinary shares B ordinary shares
shares) at the (“B Ord”) (“B Ord”)
meeting
For Against For Against
Ordinary resolution 1 - Adoption of the annual 100.00 0.00 100.00 Ord 0.00 Ord 192,035,207 Ord 74.77 Ord 0.30 Ord
financial statements 100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
Ordinary resolutions 2.1 and 2.2 - Re-election of
directors retiring by rotation
93.04 6.96 90.09 Ord 9.91 Ord 192,300,694 Ord 74.87 Ord 0.20 Ord
2.1 Stewart Cohen
100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
77.13 22.87 67.43 Ord 32.57 Ord 192,300,694 Ord 74.87 Ord 0.20 Ord
2.2 Keith Getz
100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
99.92 0.08 99.89 Ord 0.11 Ord 192,300,334 Ord 74.87 Ord 0.20 Ord
2.2 Mmaboshadi Chauke
100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
Ordinary resolution 3 – confirmation of 96.39 3.61 94.86 Ord 5.14 Ord 192,300,694 Ord 74.87 Ord 0.20 Ord
appointment of non-executive director Steve Ellis 100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
Ordinary resolution 4 - Election of independent 78.04 21.96 68.74 Ord 31.26 Ord 192,300,419 Ord 74.87 Ord 0.20 Ord
auditor 100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
Ordinary resolutions 5.1 to 5.3 - Election of
members of the audit and compliance committee
93.35 6.65 90.52 Ord 9.48 Ord 192,300,144 Ord 74.87 Ord 0.20 Ord
5.1 Daisy Naidoo
100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
97.88 2.12 96.98 Ord 3.02 Ord 192,300,644 Ord 74.87 Ord 0.20 Ord
5.2 Mark Bowman
100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
99.98 0.02 99.97 Ord 0.03 Ord 192,300,194 Ord 74.87 Ord 0.20 Ord
5.3 Mmaboshadi Chauke
100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
Ordinary resolution 6 - Non-binding advisory vote 78.17 21.83 68.92 Ord 31.08 Ord 192,297,856 Ord 74.87 Ord 0.20 Ord
on the remuneration policy** (see commentary 100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
below)
Ordinary resolution 7 - Non-binding advisory vote 51.91 48.09 31.52 Ord 68.48 Ord 192,297,856 Ord 74.87 Ord 0.20 Ord
on the remuneration implementation report** 100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
(see commentary below)
Ordinary resolution 8 - Adoption of the SETS 99.72 0.28 99.61 Ord 0.39 Ord 192,032,927 Ord 74.77 Ord 0.30 Ord
committee report 100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
100.00 0.00 100.00 Ord 0.00 Ord 192,296,226 Ord 74.87 Ord 0.20 Ord
Ordinary resolution 9 - Signature of documents
100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
Ordinary resolution 10 - Control of unissued 74.82 25.18 64.15 Ord 35.85 Ord 192,300,799 Ord 74.87 Ord 0.20 Ord
shares (excluding issues for cash) 100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100 B Ord 0.00 B Ord
Ordinary resolution 11 – General issue of shares 72.92 27.08 61.05 Ord 38.95 Ord 185,988,559 Ord 74.24 Ord 0.20 Ord
for cash 100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100 B Ord 0.00 B Ord
Special resolutions 1.1 to 1.12 - Non-executive
director remuneration:
1.1 Independent non-executive chair of the 99.69 0.31 99.56 Ord 0.44 Ord 192,235,975 Ord 74.85 Ord 0.22 Ord
board – R 1 867 122 100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
97.56 2.44 96.52 Ord 3.48 Ord 192,235,955 Ord 74.85 Ord 0.22 Ord
1.2 Honorary chair of the board – R 908 776
100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
1.3 Lead independent director of the board – 99.47 0.53 99.24 Ord 0.76 Ord 192,298,517 Ord 74.87 Ord 0.20 Ord
R 631 047 100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
99.26 0.74 98.95 Ord 1.05 Ord 192,298,540 Ord 74.87 Ord 0.20 Ord
1.4 Non-executive directors – R 430 303
100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
1.5 Audit and compliance committee chair – 99.74 0.26 99.62 Ord 0.38 Ord 192,298,540 Ord 74.87 Ord 0.20 Ord
R 349 617 100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
1.6 Audit and compliance committee members – 99.74 0.26 99.63 Ord 0.37 Ord 192,298,540 Ord 74.87 Ord 0.20 Ord
R 171 154 100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
1.7 Remuneration and nominations committee 99.74 0.26 99.62 Ord 0.38 Ord 192,298,517 Ord 74.87 Ord 0.20 Ord
chair – R 227 695 100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
1.8 Remuneration and nominations committee 99.74 0.26 99.63 Ord 0.37 Ord 192,298,517 Ord 74.87 Ord 0.20 Ord
members – R 113 449 100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
99.74 0.26 99.62 Ord 0.38 Ord 192,298,580 Ord 74.87 Ord 0.20 Ord
1.9 SETS committee chair – R 188 140
100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
1.10 SETS committee members – 99.74 0.26 99.63 Ord 0.37 Ord 192,298,560 Ord 74.87 Ord 0.20 Ord
R 109 964 100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
1.11 Risk and IT committee members - 99.74 0.26 99.63 Ord 0.37 Ord 192,298,540 Ord 74.87 Ord 0.20 Ord
R 137 441 100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
1.12 Risk and IT committee - IT specialist - 99.26 0.74 98.95 Ord 1.05 Ord 192,298,540 Ord 74.87 Ord 0.20 Ord
R 310 250 100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
Special resolution 2 – General authority to 98.80 1.20 98.28 Ord 1.72 Ord 185, 966, 695 Ord 74.23 Ord 0.21 Ord
repurchase shares 100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
Special resolution 3 - Financial assistance to 98.67 1.33 98.10 Ord 1.90 Ord 192,225,947 Ord 74.84 Ord 0.22 Ord
related or inter-related companies 100.00 B Ord 0.00 B Ord 6,792,586 B Ord 100.00 B Ord 0.00 B Ord
* The total issued share capital as at the AGM voting record date was 256,841,654 ordinary shares and 6,792,786 B-ordinary shares
** Ahead of the AGM, the Group sent communication to the Group’s top 25 shareholders representing approximately 65.8% of its issued ordinary shares for purposes of
engaging generally on the resolutions proposed at the AGM. Through this process, the Group actively engaged with 16 of these shareholders and is encouraged by the
number of shareholders who either requested meetings or written responses to their questions. The continued support for the remuneration policy indicates a favourable
shareholder view of the Group’s general remuneration philosophy. However, the Group is disappointed at the result of the voting on remuneration implementation given the
positive engagements with the top shareholders and changes made to both the remuneration policy and its implementation during FY2022.
The Group strives to apply its remuneration philosophy of “partnership” consistently and appropriately and the Group will continue its efforts to engage with shareholders to
understand more fully the concerns around the remuneration policy and implementation thereof. Accordingly, shareholders are invited to advise the Group of their reasons
for their dissenting votes on the remuneration policy and/or the implementation thereof, and whether they wish to engage with the Group on these issues. Correspondence
in this regard should be addressed by email to the Group’s Head of Investor Relations, Matt Warriner (klechman@mrpricegroup.com), by 30 September 2022. Thereafter
the date and time of requested engagements will be scheduled with shareholders individually.
Durban
25 August 2022
JSE Equity Sponsor and Corporate Broker
Investec Bank Limited
Date: 25-08-2022 07:05:00
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