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CLOVER INDUSTRIES LIMITED - Report on proceedings at the annual general meeting

Release Date: 29/11/2016 10:00
Code(s): CLR     PDF:  
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Report on proceedings at the annual general meeting

Clover Industries Limited
(Incorporated in the Republic of South Africa)
(Registration number 2003/030429/06)
NSX Ordinary Share code: CLN
Ordinary Share code: CLR ISIN No: ZAE000152377
(“Clover”)

REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING

At Clover’s 6th (sixth) annual general meeting (“AGM”) of shareholders
held on Monday, 28 November 2016, all the ordinary and special
resolutions proposed at the meeting were approved by the requisite
majority of votes. The voting statistics from the AGM are as follows:

                                                                 Shares          Shares
                                                                  voted       abstained
                                                              disclosed       disclosed
                          Votes carried                            as a            as a
                         disclosed as a                      percentage      percentage               
                          percentage in        Number of             in              in
                        relation to the           shares       relation        relation                           
                        total number of            voted         to the          to the
                        shares voted at                           total           total
                            the meeting                          issued          issued
                                                                  share           share
                                                               capital#        capital#
                       For      Against
Ordinary Resolutions
  Presentation of
  Annual
1 Financial           100%           0%      162,446,786            85%        0,00204%
  Statements
   
  Re-election of
2 non-executive     92,58%        7,42%      162,439,422            85%        0,00591%
  director: Mr NA
  Smith
  
  Re-appointment
3 of External       99,66%        0,34%      162,441,447            85%        0,00485%
  Auditors: EY
  Inc

  Election of
  Audit and Risk
4 Committee         94,52%        5,48%      162,441,447            85%        0,00485%
  member: Dr SF
  Booysen

  Election of
  Audit and Risk
5 Committee         93,97%        6,03%      162,444,825            85%        0,00307%
  member: Mr JNS
  Du Plessis

  Election of
6 Audit and Risk    87,76%       12,24%      162,449,115            85%        0,00082%
  Committee
  member: Ms Ms B
  Ngonyama

  Election of
  Audit and Risk
7 Committee         94,31%        5.69%      162,446,915            85%        0,00197%
  member: Mr TA
  Wixley

  Approval of the
  Clover Group      99,94%        0,06%      160,607,295            84%        0,96840%
8 Remuneration
  Policy

Special Resolutions
  General
1 authority to
  repurchase        98,34%        1,66%      162,444,180            85%        0,00341%
  shares

  Remuneration of
2 Non-executive     92,60%        7,39%      162,207,061            85%        0,12798%
  directors

  Financial
  Assistance in
  terms of
3 section 45 of     99,98%      0,0182%      150,185,592            79%        6,44334%
  the Companies
  Act

  Adoption of new
4 Memorandum of     99,99%      0,0035%      162,425,174            85%        0,01339%
  Incorporation

# issued share capital is 190,352,747 shares

The special resolution/s will, where necessary, be lodged for
registration with the Companies and Intellectual Property Commission in
due course.


Johannesburg
29 November 2016

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

NSX Sponsor
IJG SECURITIES


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