Report on proceedings at the annual general meeting
(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
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
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
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% -
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.
1. Approval of proposed non-executive directors’
remuneration for the year ending 31 December 100% -
2. Authority to provide financial assistance to any
group company in terms of Section 45 of the 100% -
3. Authority to provide financial assistance to any
group company in terms of Section 44 of the
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.
16 May 2018
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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