Wrap Text
Results of annual general meeting
HUDACO INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
Registration Number 1985/004617/06
Share Code: HDC ISIN: ZAE000003273
("Hudaco" or "the company")
Results of annual general meeting
Hudaco shareholders are advised that the voting results for the annual general meeting (“the AGM”) held at
the registered offices of the Company on 29 March 2017 are set out below. Based on the voting results, all
resolutions were passed by the requisite majority of Hudaco shareholders present in person or represented
by proxy at the AGM.
Resolution Number of Percentage of For** Against** Abstained*
shares voted votable shares % % %
in issue*
%
Ordinary Resolution Number 1.1
To re-elect directors retiring by 24 240 140 76,598519552 97,360902206 2,639097793 0,171214398
rotation: D Naidoo
Ordinary Resolution Number 1.2
To re-elect directors retiring by 24 240 140 76,598519552 95,559472841 4,440527158 0,171214398
rotation: RT Vice
Ordinary Resolution Number 1.3
To re-elect directors retiring by 24 240 177 76,598636472 99,99984736 0,000152639 0,171097478
rotation: CV Amoils
Ordinary Resolution Number 2:
To approve the re-appointment of 24 240 177 76,598636472 86,222666608 13,777333391 0,171097478
external auditors
Ordinary Resolution Number 3.1:
Appointment of the members of the
audit and risk management 24 240 177 76,598636472 98,974986857 1,025013142 0,171097478
committee: D Naidoo
Ordinary Resolution Number 3.2:
Appointment of the members of the
audit and risk management 24 240 177 76,598636472 99,501241265 0,498758734 0,171097478
Committee: N Mandindi
Ordinary Resolution Number 3.3:
Appointment of the members of the
audit and risk management 24 240 140 76,598519552 99,473744788 0,526255211 0,171214398
Committee: SG Morris
Special Resolution Number 1:
Approval of non-executive directors’ 24 240 140 76,598519552 99,481145735 0,518854264 0,171214398
remuneration
Non-binding Resolution Number 1:
Endorsement of Hudaco’s 24 240 177 76,598636472 71,166246022 28,833753977 0,171097478
remuneration policy
Special Resolution Number 2:
Authorising the provision of financial 24 240 140 76,598519552 95,42971699 4,570283009 0,171214398
assistance to subsidiaries
Special Resolution Number 3:
General authority to repurchase
24 240 770 76,600510344 99,499067067 0,500932932 0,169223606
shares – up to 1 582 285 (5%) of its
shares
Special Resolution Number 4:
24 240 177 76,598636472 100,00 0,00 0,171097478
Amendment of the company’s MOI
Ordinary Resolution Number 4:
General authority to directors to allot
and issue authorised but unissued 24 240 177 76,598636472 81,019301137 18,980698862 0,171097478
ordinary shares – up to 1 582 285
(5%) shares in issue
Ordinary Resolution Number 5:
24 240 277 76,59895247 100,00 0,00 0,17078148
Signature of documents
* Based on 31 645 703 votable shares (34 153 531 shares in issue as at the date of the AGM, minus 2 507 828
treasury shares held by a subsidiary of Hudaco.)
** As a percentage of shares voted at AGM.
Comments by the CEO on 2017 first quarter trading
During the meeting, Graham Dunford, chief executive of Hudaco, made the following comments on trading for
the first quarter:
“In our 2016 financial results presentation we indicated that all things being equal, we were optimistic
about earnings in 2017. Although trading in the first quarter continued to be very tough, reflecting the
general conditions in the economy, we are happy to report that our businesses, specifically in our
Engineering Consumable Segment, have maintained some momentum from the last few months of 2016
and that acquisitions are performing well and have added to earnings as expected.”
Johannesburg
30 March 2017
Sponsor
Nedbank Corporate and Investment Banking
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