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Report on proceedings at the annual general meeting
REMGRO LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1968/006415/06)
ISIN: ZAE000026480
JSE and A2X Share code: REM
("Remgro" or "the Company")
REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING
At the 2022 annual general meeting ("AGM") of the shareholders of Remgro held on Wednesday, 30 November
2022 all the ordinary and special resolutions proposed were approved by the requisite majority of votes.
In this regard, Remgro confirms the voting statistics from the AGM as follows:
Resolutions Votes cast disclosed as a Shares voted disclosed
percentage in relation to as a percentage in Shares abstained
the total number of shares relation to the total disclosed as a
voted at the meeting Number of shares issued share capital* percentage in relation
voted to the total issued
Ordinary shares ("Ord") Ordinary shares ("Ord") share capital*
B ordinary shares ("B Ord") Ordinary shares B ordinary shares ("B
("Ord") Ord") Ordinary shares ("Ord")
B ordinary shares B ordinary shares ("B
("B Ord") Ord")
For Against
Ordinary Resolution 100% Ord 0,00% Ord 381 587 502 Ord 72,82% Ord 0,46% Ord
Number 1 - Approval 100% B Ord 0% B Ord 39 056 987 B Ord 100% B Ord 0% B Ord
of annual financial
statements
Ordinary Resolution 70,82% Ord 29,18% Ord 381 928 631 Ord 72,88% Ord 0,39% Ord
Number 2 - 100% B Ord 0% B Ord 39 056 987 B Ord 100% B Ord 0% B Ord
Reappointment of
auditor
Ordinary Resolution 93,65% Ord 6,35% Ord 381 930 260 Ord 72,89% Ord 0,39% Ord
Number 3 - Election 100% B Ord 0% B Ord 39 056 987 B Ord 100% B Ord 0% B Ord
of director,
Ms S E N De Bruyn
Ordinary Resolution 97,12% Ord 2,88% Ord 381 930 960 Ord 72,89% Ord 0,39% Ord
Number 4 - Election 100% B Ord 0% B Ord 39 056 987 B Ord 100% B Ord 0% B Ord
of director,
Ms M Lubbe
Ordinary Resolution 47,19% Ord 52,81% Ord 381 934 925 Ord 72,89% Ord 0,39% Ord
Number 5 - Election 100% B Ord 0% B Ord 39 056 987 B Ord 100% B Ord 0% B Ord
of director,
Mr P J Moleketi
Ordinary Resolution 51,73% Ord 48,27% Ord 381 927 605 Ord 72,88% Ord 0,39% Ord
Number 6 - Election 100% B Ord 0% B Ord 39 056 987 B Ord 100% B Ord 0% B Ord
of director,
Mr M Morobe
Ordinary Resolution 82,12% Ord 17,88% Ord 381 929 380 Ord 72,89% Ord 0,39% Ord
Number 7 - Election 100% B Ord 0% B Ord 39 056 987 B Ord 100% B Ord 0% B Ord
of director,
Mr P J Neethling
Ordinary Resolution 98,05% Ord 1,95% Ord 381 930 080 Ord 72,89% Ord 0,39% Ord
Number 8 - Election 100% B Ord 0% B Ord 39 056 987 B Ord 100% B Ord 0% B Ord
of member of the
Audit and Risk
Committee,
Ms S E N De Bruyn
Ordinary Resolution 42,98% Ord 57,02% Ord 381 927 605 Ord 72,88% Ord 0,39% Ord
Number 9 - Election 100% B Ord 0% B Ord 39 056 987 B Ord 100% B Ord 0% B Ord
of member of the
Audit and Risk
Committee,
Mr N P Mageza
Ordinary Resolution 43,44% Ord 56,56% Ord 381 934 925 Ord 72,89% Ord 0,39% Ord
Number 10 - 100% B Ord 0% B Ord 39 056 987 B Ord 100% B Ord 0% B Ord
Election of member
of the Audit and
Risk Committee,
Mr P J Moleketi
Ordinary Resolution 41,56% Ord 58,44% Ord 381 929 380 Ord 72,89% Ord 0,39% Ord
Number 11 - 100% B Ord 0% B Ord 39 056 987 B Ord 100% B Ord 0% B Ord
Election of member
of the Audit and
Risk Committee,
Mr F Robertson
Ordinary Resolution 81,73% Ord 18,27% Ord 375 896 885 Ord 71,73% Ord 1,54% Ord
Number 12 – General 100% B Ord 0% B Ord 39 056 987 B Ord 100% B Ord 0% B Ord
authority to place
5% of the unissued
ordinary shares
under the control
of the directors
Ordinary Resolution 64,91% Ord 35,09% Ord 381 599 806 Ord 72,82% Ord 0,46% Ord
Number 13 – Non- 100% B Ord 0% B Ord 39 056 987 B Ord 100% B Ord 0% B Ord
binding advisory
vote on
Remuneration Policy
Ordinary Resolution 70,35% Ord 29,65% Ord 381 599 806 Ord 72,82% Ord 0,46% Ord
Number 14 – Non- 100% B Ord 0% B Ord 39 056 987 B Ord 100% B Ord 0% B Ord
binding advisory
vote on
Remuneration
Implementation
Report
Special Resolution 95,33% Ord 4,67% Ord 381 917 923 Ord 72,88% Ord 0,40% Ord
Number 1 - Approval 100% B Ord 0% B Ord 39 056 987 B Ord 100% B Ord 0% B Ord
of directors’
remuneration
Special Resolution 97,69% Ord 2,31% Ord 381 914 814 Ord 72,88% Ord 0,40% Ord
Number 2 - General 0% B Ord 0% B Ord 39 056 987 B Ord 0% B Ord 100% B Ord
authority to
repurchase shares
Special Resolution 99,60% Ord 0,40% Ord 381 223 601 Ord 72,75% Ord 0,53% Ord
Number 3 - General 100% B Ord 0% B Ord 39 056 987 B Ord 100% B Ord 0% B Ord
authority to
provide financial
assistance for the
subscription and/or
purchase of
securities in the
Company or in
related or inter-
related companies
Special Resolution 99,78% Ord 0,22% Ord 381 934 459 Ord 72,89% Ord 0,39% Ord
Number 4 - General 100% B Ord 0% B Ord 39 056 987 B Ord 100% B Ord 0% B Ord
authority to
provide financial
assistance to
related and inter-
related companies
and corporations
*Total issued share capital is 529 217 007 ordinary shares with total voteable shares, excluding Treasury
shares, being 524 015 654 ordinary shares and 39 056 987 B ordinary shares.
Shareholders are advised that Remgro wishes to engage its shareholders on the Company’s remuneration
policy and remuneration implementation report.
Remgro’s 2022 remuneration policy and remuneration implementation report were voted against by more than
25% of the votes exercised by Remgro’s ordinary shareholders present in person or represented by proxy at
the AGM. It should be noted, however, that the non-binding advisory resolutions on the endorsement of the
Company’s remuneration policy and implementation report were approved by the requisite majority of the
combined votes exercised by Remgro’s ordinary and "B" ordinary shareholders present in person or
represented by proxy at the AGM (82.66% and 85.35% respectively).
To better understand the reasons why more than 25% of the ordinary shareholders voted against the non-
binding advisory endorsement relating to the Company’s remuneration policy and implementation report, and
to enable the Remuneration and Nomination Committee to consider these concerns on behalf of the board of
the Company, an invitation is being extended to such dissenting shareholders to engage with Remgro, in
line with the recommendations of the King IV Report on Corporate Governance for South Africa, 2016 and
paragraph 3.84(j)of the JSE Limited Listings Requirements.
Dissenting shareholders are invited to engage with Remgro as follows:
- shareholders are invited to attend virtual engagement sessions, to be hosted via a Zoom video
facility;
- shareholders wishing to participate in these sessions are requested to please register their
interest by emailing the company secretary, ddreyer@remgro.com, by no later than close of business
on Friday, 2 December 2022. Once registered, shareholders will be emailed a meeting request for the
Zoom session; and
- any concerns, questions or recommendations on the Remuneration Policy should be submitted to the
company secretary by email to ddreyer@remgro.com, by close of business on Friday, 2 December 2022.
Stellenbosch
1 December 2022
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 01-12-2022 07:05:00
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