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Sabvest Limited - Report On Proceedings At The Annual General Meeting

Release Date: 16/05/2018 12:53
Code(s): SBV SVN
 
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Report on proceedings at the annual general meeting

SABVEST LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/003753/06)
Share code: SBV – ordinary shares / SVN – ‘N’ ordinary shares
ISIN: ZAE000006417 – ordinary shares / ISIN: ZAE000012043 – ‘N’ ordinary shares
("Sabvest” or “the Company”)

REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING

At the annual general meeting (“AGM”) of the shareholders of Sabvest held today,
16 May 2018, all the ordinary and special resolutions proposed at the meeting were
approved by the requisite majority of votes. In this regard, the Company confirms the
voting statistics from the AGM as follows:

Shares voted in relation to the total issued share capital:

                                                Total number of
                                Total issued     shares present              Percentage of
                               share capital     or represented               shares voted            
                                                       by proxy
                                                                                                                     
Ordinary shares*                  17 076 804         11 929 136                     69,55%
‘N’ ordinary shares*              28 883 000          4 145 410                     14,35%

*Each ordinary share has 500 votes and each ‘N’ ordinary share has one vote.

                                                Total number of
                                Total number   votes present or              Percentage of
                                    of votes     represented by                votes voted                 
                                                          proxy
                                                                                                                       
Total number of votes          8 567 285 000      5 968 713 410                     69,67%

Total number of members present:    4
Total number of abstentions:        0
                                                              Votes carried disclosed as a
                                                          percentage in relation to the total
                                                           number of shares voted at the
Resolutions                                                           meeting

                                                                For                   Against
Ordinary resolutions
1.    Presentation and approval of annual financial
      statements, directors’ report, audit committee           100%                         -
      report and social and ethics committee report for
      the year ended 31 December 2017.
2.    Re-election of Mr N S H Hughes                           100%                         -
3.    Re-election of Mrs D N M Mokhobo.                        100%                         -
4.    Re-election of Mr R Pleaner.                             100%                         -
5.    Re-appointment of Deloitte & Touche.                     100%                         -
6.    Election of Audit Committee members.
      6.1   N S H Hughes                                       100%                         -
      6.2   D N M Mokhobo                                      100%                         -
      6.3   B J T Shongwe                                      100%                         -
7.    Non-binding endorsement of Remuneration                  100%                         -
      Policy.
8.    Non-binding endorsement of Remuneration
      Implementation Report.                                   100%                         -
9.    Placing 1 million unissued ordinary shares and
      8,7m unissued ‘N’ ordinary shares under the              100%                         -
      control of the directors and general authority to
      allot and issue
10.   Authority to sign all documents required.
11.   Authority to allot and issue 1 000 00 authorised         100%                         -
      but unissued ordinary shares and authorised but                                                
      unissued ‘N’ ordinary shares for cash.

Special resolutions
1.    Approval of proposed non-executive directors’
      remuneration for the year ending 31 December             100%                         -
      2018.
2.    Authority to provide financial assistance to any
      group company in terms of Section 45 of the              100%                         -
      Companies Act.
3.    Authority to provide financial assistance to any
      group company in terms of Section 44 of the
      Companies Act.
4.    General authority to repurchase shares                   100%                         -
    
The special resolutions will, where necessary, be lodged for registration with the
Companies and Intellectual Property Commission in due course.

Sandton
16 May 2018

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

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