OAKBAY RESOURCES AND ENERGY LIMITED - Results of AGM

Results of AGM

Oakbay Resources and Energy Limited
(Incorporated in the Republic of South Africa)
Registration number: 2009/021537/06
Share code: ORL
ISIN: ZAE000196085
(“Oakbay Resources” or “the Company”)


RESULTS OF ANNUAL GENERAL MEETING



The board of directors of Oakbay Resources hereby advises that at the annual general meeting (“AGM”)
of shareholders held on 6 October 2015, the following resolutions, as set out in the notice of AGM which
was incorporated in the Integrated Annual Report distributed to shareholders on 31 August 2015, were
duly approved by the requisite majority of shareholders present and voting, in person or represented by
proxy.

Shareholders are advised that:

-     total number of shares in issue as at the date of the AGM: 800 000 000.
-     total number of shares that were present in person/represented by proxy at the AGM: 781 465 195
      shares being 97.68% of the total number of shares in issue.
-     Abstentions are represented below as a percentage of total number of shares in issue.

Details of the results of the voting are as follows:

    Resolution
                                            Shares voted for   Shares voted     Shares abstained
                                                                 against


    Ordinary resolution number 1:

    1.1   To re-elect Mr A Gupta as a          781 465 195          -                   -
          director                                100%             -%                  -%

    1.2   To re-elect Ms D Nyamane as          781 465 195          -                   -
          a director                              100%             -%                  -%


    Ordinary resolution number 2:

    2.1   To appoint Mr M Pamensky             781 465 195          -                   -
          as a member of the Audit                100%             -%                  -%
          Committee
    2.2   To appoint Mr T Rensen as a          781 465 195          -                   -
          member of the Audit                     100%             -%                  -%
          Committee
    2.3   To appoint Ms D Nyamane as           781 465 195          -                   -
          a member of the Audit                   100%             -%                  -%
          Committee

    Ordinary resolution number 3:
                                                                    -                   -
 To appoint KPMG Inc. as external            781 465 195      -%        -%
 auditors of the Company for the                100%
 ensuing financial year


 Ordinary resolution number 4:

 General authority to issue shares for       752 936 548   28 528 647    -
 cash                                          96.35%        3.65%      -%


 Ordinary resolution number 5:

 Approval of the group remuneration          781 465 195       -         -
 policy                                         100%          -%        -%

 Special resolution number 1:

 Approval of non-executive directors’        781 465 195       -         -
 fees                                           100%          -%        -%


 Special resolution number 2:

 Financial assistance to related and         752 936 548   28 528 647    -
 inter-related companies                       96.35%        3.65%      -%


 Special resolution number 3:

 Financial assistance for subscription       752 936 548   28 528 647    -
 of shares to related or inter-related         96.35%        3.65%      -%
 companies


 Special resolution number 4:

 General approval to repurchase              752 936 548   28 528 647    -
 shares                                        96.35%        3.65%      -%


 Ordinary resolution number 7:

 Signing authority                           781 465 195       -         -
                                                100%          -%        -%

Johannesburg
6 October 2015


Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)

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