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THE BIDVEST GROUP LIMITED - Report on Annual General Meeting proceedings

Release Date: 28/11/2016 16:20
Code(s): BVT     PDF:  
Wrap Text
Report on Annual General Meeting proceedings

THE BIDVEST GROUP LIMITED
(“Bidvest” or “The Group”)
(Incorporated in the Republic of South Africa)
(Registration number 1946/021180/06)
JSE Share code: BVT
ISIN: ZAE000117321

REPORT ON ANNUAL GENERAL MEETING PROCEEDINGS

Bidvest shareholders are advised that at the Annual General Meeting of members held on Monday, November
28 2016, all the ordinary and special resolutions as proposed in the Notice of the Annual General Meeting
were approved by the requisite majority of members. In this regard, Bidvest confirms the voting statistics from
the AGM as follows:

1       Ordinary resolution number 1: To re-appoint the external auditors

          For                         Against                     Abstain                    Shares voted
          216 806 375                 8 177 951                   3 924 717                  228 909 043
          96.36510%                   3.63490%                    1.17927%                   100.00000%



2       Ordinary resolution number 2.1: Re-election of director appointed during the year – HP Meijer

          For                         Against                     Abstain                    Shares voted
          224,282,085                 4,055,594                   571,364                    228,337,679
          98.22386%                   1.77614%                    0.17168%                   100.00000%



3       Ordinary resolution number 2.2: Directors retiring by rotation and available for re-election – B Joffe

          For                         Against                     Abstain                    Shares voted
          222,363,928                 5,975,053                   570,062                    228,338,981
          97.38325%                   2.61675%                    0.17129%                   100.00000%


4       Ordinary resolution number 2.3: Directors retiring by rotation and available for re-election – AW
        Dawe

          For                         Against                     Abstain                    Shares voted
          224,636,216                 3,701,463                   571,364                    228,337,679
          98.37895%                   1.62105%                    0.17168%                   100.00000%


5       Ordinary resolution number 2.4: Directors retiring by rotation and available for re-election – NT
        Madisa

          For                         Against                     Abstain                    Shares voted
          224,611,000                 3,726,679                   571,364                    28,337,679
          98.36791%                   1.63209%                    0.17168%                   100.00000%

6       Ordinary resolution number 2.5: Directors retiring by rotation and available for re-election – S
        Masinga

          For                         Against                      Abstain                   Shares voted
          225,888,542                 2,449,137                    571,364                   228,337,679
          98.92741%                   1.07259%                     0.17168%                  100.00000%


7       Ordinary resolution number 3.1: Election of audit committee members – EK Diack

          For                         Against                      Abstain                   Shares voted
          222,746,498                 591,133                      571 412                   228,337,631
          99.74111%                   0.25889%                     0.17169%                  100.00000%

8       Ordinary resolution number 3.2: Election of audit committee members – S Masinga

          For                         Against                      Abstain                   Shares voted
          227,746,496                 591,133                      571 414                   228,337,629
          99.74111%                   0.25889%                     0.17169%                  100.00000%


9       Ordinary resolution number 3.3: Election of audit committee members – NG Payne

          For                         Against                      Abstain                   Shares voted
          217,923,554                 10,414,075                   571,414                   228,337,629
          95.43918%                   4.56082%                     0.17169%                  100.00000%

10      Ordinary resolution number 4.1: Endorsement of Bidvest remuneration report – non-binding advisory
        note: “Part 1 –Section 1 Policy on base package and benefits”

          For                         Against                      Abstain                   Shares voted
          226,281,640                 2,045,834                    581,569                   228,327,474
          99.10399%                   0.89601%                     0.17475%                  100.00000%

11      Ordinary resolution number 4.2: Endorsement of Bidvest remuneration report – non-binding advisory
        note: “Part 1 –Section 2 Policy on short-term incentives”

          For                         Against                      Abstain                   Shares voted
          217,500,212                 10,827,264                   581,567                   228,327,476
          95.25801%                   4.74199%                     0.17475%                  100.00000%

12      Ordinary resolution number 4.3: Endorsement of Bidvest remuneration report – non-binding advisory
        note: “Part 1 –Section 3 Policy on long-term incentives”

          For                         Against                    Abstain                     Shares voted
          155,236,899                 73,090,577                 581,567                     228,327,476
          67.98871%                   32.01129%                  0.17475%                    100.00000%

13     Ordinary resolution number 5: General authority to directors to allot and issue authorised but
       unissued ordinary shares

         For                          Against                    Abstain                     Shares voted
         205,579,912                  21,950,226                 1,378,905                   227,530,138
         90.35283%                    9.64717%                   0.41432%                    100.00000%

14     Ordinary resolution number 6: General authority to issue shares for cash

         For                          Against                    Abstain                     Shares voted
         205,689,006                  21,841,063                 1,378,974                   227,530,069
         90.40080%                    9.59920%                   0.41434%                    100.00000%

15     Ordinary resolution number 7: Payment of dividend by way of pro rata reduction of share premium

         For                          Against                    Abstain                     Shares voted
         228,331,093                  5,726                      572,224                     228,336,819
         99.99749%                    0.00251%                   0.17194%                    100.00000%

16     Ordinary resolution number 8: Creation and Issue of convertible debentures

         For                          Against                    Abstain                     Shares voted
         212,440,834                  15,845,753                 622,456                     228,286,587
         93.05883%                    6.94117%                   0.18703%                    100.00000%

17     Ordinary resolution number 9: Directors’ authority to implement special and ordinary resolutions

         For                          Against                    Abstain                     Shares voted
         228,336,969                  1,312                      570,762                     228,338,281
         99.99943%                    0.00057%                   0.17150%                    100.00000%

18     Special resolution number 1: General authority to acquire (repurchase) shares

         For                          Against                    Abstain                     Shares voted
         220,174,468                  8,112,875                  621,700                     228,287,343
         96.44620%                    3.55380%                   0.18680%                    100.00000%

19     Special resolution number 2: Approval of non-executive directors’ remuneration - 2016/17

         For                          Against                    Abstain                      Shares voted
         228,230,933                  101,386                    576,724                      228,332,319
         99.95560%                    0.04440%                   0.17329%                     100.00000%

20     Special resolution number 3: General authority to provide direct or indirect financial assistance to all
       related and inter-related entities

         For                          Against                    Abstain                      Shares voted
         224,899,111                  3,438,678                  571,254                      228,337,789
         98.49404%                    1.50596%                   0.17165%                     100.00000%



Date: November 28 2016

Johannesburg
Sponsor: Investec Bank Limited

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