AFE - AECI Limited - Report on proceedings at annual general meeting and

AFE - AECI Limited - Report on proceedings at annual general meeting and        
retirement of non-executive chairman                                            
AECI LIMITED                                                                    
Incorporated in the Republic of South Africa                                    
(Registration No. 1924/002590/06)                                               
Share code:  AFE     ISIN No. ZAE000000220                                      
("AECI" or "the Company")                                                       
REPORT ON PROCEEDINGS AT ANNUAL GENERAL MEETING AND RETIREMENT OF NON-EXECUTIVE 
CHAIRMAN                                                                        
The Board of Directors advises that, at the Annual General Meeting of           
shareholders ("the Meeting") held at the registered office of the Company today,
all the ordinary and special resolutions as set out in the Notice of Annual     
General Meeting mailed to shareholders on 9 May 2011 were duly passed by the    
requisite majority of votes, save for Ordinary Resolution No. 7 which was       
withdrawn by the Chairman at the commencement of the Meeting.                   
The special resolutions will be sent to the Companies and Intellectual Property 
Commission for registration.                                                    
At the Meeting, Mr Fani Titi, Non-Executive Chairman of the Company, advised    
shareholders that he will retire from this position at the Annual General       
Meeting to be held in May 2012.  He will retire as a Non-Executive Director of  
AECI at the same time.                                                          
The process for appointing a successor as Non-Executive Chairman has commenced  
and further announcements in this regard will be made in due course.            
By order of the Board                                                           
EA Rea                                                                          
Acting Company Secretary                                                        
Woodmead, Sandton                                                               
31 May 2011                                                                     
Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)              
Date: 31/05/2011 12:00:01 Supplied by www.sharenet.co.za                     
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