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Report on proceedings at the annual general meeting
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1955/002869/06)
Share code: TRE
ISIN: ZAE000007506
(“Trencor” or “the company”)
REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING
VOTING RESULTS
At the annual general meeting (“AGM”) of shareholders of Trencor held on Thursday, 10 August 2017, all the ordinary and special resolutions proposed were approved by
the requisite majority of votes. The company confirms the voting statistics from the AGM as follows:
Total number of shares in issue 177 068 011
Total number of shares represented at the AGM 164 161 167 (92,71%)
Votes carried disclosed as a Shares voted Shares abstained
percentage in relation to the total disclosed as a disclosed as a
Resolutions number of shares voted at the percentage in percentage in
AGM Number of relation to the total relation to the total
For Against shares voted issued share capital issued share capital
Ordinary resolution number 1.1:
Election of Jimmy McQueen as a 98,51% 1,49% 164 116 126 92,69% 0,03%
director
Ordinary resolution number 1.2:
Election of Hennie van der Merwe as a 99,93% 0,07% 164 116 126 92,69% 0,03%
director
Ordinary resolution number 1.3:
Election of Herman Wessels as a 98,45% 1,55% 164 116 126 92,69% 0,03%
director
Non-binding advisory vote:
Endorsement of remuneration policy 73,02% 26,98% 149 237 062 84,28% 8,43%
Ordinary resolution number 2:
Reappointment of KPMG Inc as 87,98% 12,02% 164 117 626 92,69% 0,02%
independent auditor
Ordinary resolution number 3.1:
Election of Eddy Oblowitz as audit 86,86% 13,14% 164 116 912 92,69% 0,02%
committee member
Ordinary resolution number 3.2:
Election of Roddy Sparks as audit 100,00% 0,00% 164 117 626 92,69% 0,02%
committee member
Ordinary resolution number 3.3:
Election of Herman Wessels as audit 99,86% 0,14% 164 116 912 92,69% 0,02%
committee member
Special resolution number 1: Approval
and authorisation of the provision of 99,78% 0,22% 164 117 626 92,69% 0,02%
financial assistance by the company to
related and/or inter-related companies
Special resolution number 2: Approval
of non-executive directors’ 99,84% 0,16% 164 115 984 92,69% 0,03%
remuneration from 1 July 2017
Special resolution number 3: Approval
of the granting of a general authority to
the company or its subsidiaries to 100,00% 0,00% 164 117 826 92,69% 0,02%
acquire the issued shares of the
company
REPORT BY THE CHAIRMAN AT THE AGM
The chairman reported that the board has been and is committed to actively pursuing the commercial objectives of:
- reducing costs and time delays associated with US GAAP to IFRS conversion; and
- a listed access point for South African investors by way of an inward listing of Textainer Group Holdings Limited and/or an intermediate entity.
For these objectives to be implemented, each relevant entity is required to consider its own position, its local regulatory and legal considerations, as well as the best
interests of its stakeholders in the various jurisdictions concerned. As a result, the processes to achieve these commercial objectives are complex and time consuming, but
the board is hopeful that all related matters may be resolved by the close of the current financial year.
Trencor Services (Pty) Ltd
Secretaries
11 August 2017
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
www.trencor.net
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