PICK N PAY STORES LIMITED - Results of the Annual General Meeting

Results of the Annual General Meeting

Pick n Pay Stores Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1968/008034/06)
Share Code: PIK
ISIN code: ZAE000005443


RESULTS OF THE ANNUAL GENERAL MEETING

Shareholders are advised that the Annual General Meeting (AGM) of Pick n Pay Stores
Limited was held on 31 July 2017 and all the resolutions proposed at the AGM were
passed by the requisite majority. The following information is provided:

Total issued number of ordinary shares:                              488 450   321
Total issued number of B shares:                                     259 682   869
Number of ordinary shares that could have been voted at the meeting: 748 133   190
Number of ordinary shares represented at the meeting:                670 377   788
Number of B shares represented at the meeting:                       259 682   869
Percentage of ordinary shares represented at the meeting:            90%
Percentage of B shares represented at the meeting:                   100%

Abstentions are represented as a percentage of total issued number of
shares.

The annual financial statements for the year ended 26 February 2017 were presented to
shareholders.

Details of the results of voting at the AGM are as follows:


Resolution proposed                   For                Against       Abstain
Ordinary resolution number 1:         670 135 366        3 040         239 382
Appointment of external auditors      100.00%            0.00%         0.03%

Ordinary resolution number 2.1:       663 359 853        4 155 907     2 862 028
Director retirement and re-election   99.38%             0.62%         0.38%
– Gareth Ackerman

Ordinary resolution number 2.2:       596 900 007        70 618 753    2 859 028
Director retirement and re-election   89.42%             10.58%        0.38%
– Hugh Herman

Ordinary resolution number 2.3:       665 437 555        2 081 205     2 859 028
Director retirement and re-election   99.69%             0.31%         0.38%
– Jeff van Rooyen

Ordinary resolution number 2.4:       666 492 835        1 025 925     2 859 028
Director retirement and re-election   99.85%             0.15%         0.38%
– Alex Mathole

Ordinary resolution number 3.1:       667 697 689        2 440 717     239 382
Re-appointment of Jeff van Rooyen     99.64%             0.36%         0.03%
to the audit, risk and compliance
committee

Ordinary resolution number 3.2:       600 711 644        69 426 762    239 382
Re-appointment of Hugh Herman         89.64%             10.36%        0.03%
to the audit, risk and compliance
committee

Ordinary resolution number 3.3:       670 137 616        790           239 382
Re-appointment of Audrey Mothupi      100.00%            0.00%         0.03%
to the audit, risk and compliance
committee
 
Ordinary resolution number 3.4:      667 130 117   3 008 289    239 382
Appointment of David Friedland to    99.55%        0.45%        0.03%
the audit, risk and compliance
committee

Advisory vote:                       611 921 059   58 194 036   262 693
Remuneration report for the 2017     91.32%        8.68%        0.04%
annual financial period

Special resolution number 1:         577 945 673   89 549 794   2 882 321
Directors’ fees for the 2018 and     86.58%        13.42%       0.39%
2019 annual financial periods

Special resolution number 2.1:       668 232 470   1 905 418    239 900
Financial assistance to related or   99.72%        0.28%        0.03%
inter-related companies

Special resolution number 2.2:       632 630 773   37 484 755   262 260
Financial assistance to persons      94.41%        5.59%        0.04%
Special resolution number 3:         668 655 159   1 467 869    254 760
General approval to repurchase       99.78%        0.22%        0.03%
Company shares

Special resolution number 4:         608 070 353   61 863 067   444 368
Replacement of the Company’s         90.77%        9.23%        0.06%
Memorandum of Incorporation

Ordinary resolution number 4:        669 955 768   2 580        419 440
Directors’ authority to implement    100.00%       0.00%        0.06%
special and ordinary resolutions

By order of the Board
Cape Town
31 July 2017

Sponsor:
Investec Bank Limited

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