PICK N PAY STORES LIMITED - Report on Proceedings at The Annual General Meeting

Release Date: 30/07/2018 13:10
Code(s): PIK
 
Wrap Text
Report on Proceedings at 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
(Pick n Pay)


REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING

Shareholders are advised that the Annual General Meeting (AGM) of Pick n Pay was held on 30 July 2018 and all the ordinary and special
resolutions proposed at the AGM were approved by the requisite majority. The following information is provided:

Total issued number of ordinary shares:                                     488 450 321
Total issued number of B ordinary shares:                                   259 682 869
Treasury shares:                                                            7 543 999
Number of ordinary shares that could have been voted at the meeting:        480 906 322

Number of ordinary shares represented at the meeting:                       398 776 317
Number of B shares represented at the meeting:                              259 682 869

Percentage of ordinary shares represented at the meeting:                   82.92%
Percentage of B shares represented at the meeting:                          100.00%

Abbreviations:        ordinary shares (Ord)
                      B ordinary shares (B Ord)


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

 Resolutions              Votes carried disclosed as  Number of shares  Shares voted             Shares abstained
                          a percentage in relation    voted             disclosed as a           disclosed as a
                          to the total number of                        percentage in relation   percentage in relation
                          shares voted at the                           to the total issued      to the total issued
                          meeting                                       share capital            share capital
                                                                        (see above for details
                                                                         of share capital)
                           FOR          AGAINST
Ordinary resolution        100% Ord     0% Ord       398 508 069 Ord     81.59% Ord               0.05% Ord
number 1:
Appointment of external    100% B Ord   0% B Ord     259 682 869 B Ord   100% B Ord               0% B Ord
auditors

Ordinary resolution        87.17% Ord   12.83% Ord   398 554 193 Ord     81.60% Ord               0.05% Ord
number 2.1:
Director retirement and    100% B Ord   0% B Ord     259 682 869 B Ord   100% B Ord               0% B Ord
re-election – Hugh
Herman

Ordinary resolution        99.46% Ord   0.54% Ord    398 554 193 Ord     81.60% Ord               0.05% Ord
number 2.2:
Director retirement and    100% B Ord   0% B Ord     259 682 869 B Ord   100% B Ord               0% B Ord
re-election – Jeff van
Rooyen

Ordinary resolution        98.13% Ord   1.87% Ord    398 554 193 Ord     81.60% Ord               0.05% Ord
number 2.3:
Director retirement and    100% B Ord   0% B Ord     259 682 869 B Ord   100% B Ord               0% B Ord
re-election – David
Robins

Ordinary resolution        99.90% Ord   0.10% Ord    398 554 173 Ord     81.60% Ord               0.05% Ord
number 2.4:
Director retirement and    100% B Ord   0% B Ord     259 682 869 B Ord   100% B Ord               0% B Ord
re-election – Audrey
Mothupi

Ordinary resolution        98.83% Ord   1.17% Ord    398 554 193 Ord     81.60% Ord               0.05% Ord
number 3.1:
Re-appointment of Jeff     100% B Ord   0% B Ord     259 682 869 B Ord   100% B Ord               0% B Ord
van Rooyen to the audit,
risk and compliance
committee

Ordinary resolution        87.08% Ord   12.92% Ord   395 755 915 Ord     81.02% Ord               0.62% Ord
number 3.2:Re-
appointment of Hugh        100% B Ord   0% B Ord     259 682 869 B Ord   100% B Ord               0% B Ord
Herman to the audit, risk
and compliance
committee

Ordinary resolution         99.90% Ord   0.10% Ord    398 554 193 Ord     81.60% Ord              0.05% Ord
number 3.3:
Re-appointment of           100% B Ord   0% B Ord     259 682 869 B Ord   100% B Ord              0% B Ord
Audrey Mothupi to the
audit, risk and
compliance committee

Ordinary resolution         99.92% Ord   0.08% Ord    398 554 193 Ord     81.60% Ord              0.05% Ord
number 3.4:
Appointment of David        100% B Ord   0% B Ord     259 682 869 B Ord   100% B Ord              0% B Ord
Friedland to the audit,
risk and compliance
committee

Advisory vote number 1:     86.72% Ord   13.28% Ord   398 553 773 Ord     81.60% Ord              0.05% Ord
Endorsement of the
remuneration policy for     100% B Ord   0% B Ord     259 682 869 B Ord   100% B Ord              0% B Ord
the 2018 annual financial
period

Advisory vote number 2:     88.23% Ord   11.77% Ord   398 553 773 Ord     81.60% Ord              0.05% Ord
Endorsement of the
remuneration                100% B Ord   0% B Ord     259 682 869 B Ord   100% B Ord              0% B Ord
implementation report
for the 2018 annual
financial period

Special resolution          74.28% Ord   25.72% Ord   398 442 820 Ord     81.57% Ord              0.07% Ord
number 1:
Directors’ fees for the     100% B Ord   0% B Ord     259 682 869 B Ord   100% B Ord              0% B Ord
2019 and 2020 annual
financial periods

Special resolution          98.93% Ord   1.07% Ord    398 554 712 Ord     81.60% Ord              0.05% Ord
number 2.1:
Financial assistance to     100% B Ord   0% B Ord     259 682 869 B Ord   100% B Ord              0% B Ord
related or inter-related
companies
Special resolution         94.44% Ord    5.56% Ord   398 508 988 Ord     81.59% Ord               0.05% Ord
number 2.2:Financial
assistance to persons      100% B Ord    0% B Ord    259 682 869 B Ord   100% B Ord               0% B Ord

Special resolution          98.48% Ord    1.52% Ord   398 341 526 Ord     81.55% Ord              0.09% Ord
number 3:
General approval to        100% B Ord    0% B Ord    259 682 869 B Ord   100% B Ord               0% B Ord
repurchase Company
shares

Ordinary resolution       100.00% Ord   0.00% Ord   398 554 289 Ord     81.60% Ord               0.05% Ord
number 4:
Directors’ authority to    100% B Ord    0% B Ord    259 682 869 B Ord   100% B Ord              0% B Ord
implement special and
ordinary resolutions


By order of the board
Cape Town
30 July 2018

Sponsor:
Investec Bank Limited

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