AFRIMAT LIMITED - Results of the 2018 Annual General Meeting and Business Update

Release Date: 02/08/2018 17:35
Code(s): AFT
 
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Results of the 2018 Annual General Meeting and Business Update

Afrimat Limited
Incorporated in the Republic of South Africa
(Registration number: 2006/022534/06)
Share code: AFT ISIN: ZAE000086302
(“Afrimat” or “the Company”)

RESULTS OF THE 2018 ANNUAL GENERAL MEETING AND BUSINESS UPDATE

Afrimat shareholders are advised that at the annual general meeting (‘AGM’) of shareholders held on
Wednesday, 1 August 2018, all the ordinary and special resolutions as set out in the notice of AGM,
were approved by the requisite majority of shareholders present or represented by proxy.

The meeting was represented by 109 193 885 Afrimat shares voting in person or by proxy. This
represents 76.23% of the total issued share capital that can be exercised at the meeting.

All resolutions proposed at the AGM, together with the percentage of shares abstained (as a percentage
of total issued share capital that can be exercised of the Company), ordinary shares voted (as a
percentage of total issued share capital that can be exercised of the Company) as well as the percentage
of votes carried for and against each resolution (as a percentage of shares voted), are as follows:

Ordinary resolution number 1: Adoption of the 2018 annual financial statements

           For                   Against                  Abstain              Shares voted

      109 086 843                 31 928                  296 740               109 118 771

         99.97%                   0.03%                   0.21%                   76.18%

Ordinary resolution number 2: Issuing unissued shares or other equity securities for cash

           For                   Against                  Abstain              Shares voted

       86 761 893              22 299 407                 354 211               109 061 300

         79.55%                  20.45%                   0.25%                   76.14%

Ordinary resolution number 3: To place unissued shares under the directors’ control

           For                   Against                  Abstain              Shares voted

      101 247 281               7 832 876                 335 354               109 080 157

         92.82%                   7.18%                   0.23%                   76.15%

Ordinary resolution number 4: Re-election of Mrs. Phuti RE Tsukudu as a director of the Company

            For                 Against                 Abstain              Shares voted

      108 513 713               477 045                 424 753              108 990 758

         99.56%                  0.44%                   0.30%                  76.09%

Ordinary resolution number 5: Re-election of Mr. Marthinus W von Wielligh as a director of the Company

            For                 Against                 Abstain              Shares voted

      103 355 601              5 616 300                443 610              108 971 901

         94.85%                  5.15%                   0.31%                  76.08%

Ordinary resolution number 6: Re-election of Mr Francois M Louw as a director of the Company

            For                 Against                 Abstain              Shares voted

      108 869 748                82 996                 462 767              108 952 744

         99.92%                  0.08%                   0.32%                  76.07%

 Ordinary resolution number 7.1: Re-election of Mr. Loyiso Dotwana as a member of the Audit & Risk
 Committee


            For                 Against                 Abstain              Shares voted

       98 669 999              10 314 373               431 139              108 984 372

         90.54%                  9.46%                   0.30%                  76.09%

Ordinary resolution number 7.2: Re-election of Mr. Helmut N Pool as a member of the Audit & Risk
Committee

            For                 Against                 Abstain              Shares voted

      108 895 290                89 392                 430 839              108 984 672

         99.92%                  0.08%                   0.30%                  76.09%
Ordinary resolution number 7.3: Re-election of Mr. Jacobus F van der Merwe as a member of the Audit
& Risk Committee

            For                      Against                Abstain               Shares voted

       108 875 290                   89 382                 450 839                108 964 672

           99.92%                    0.08%                  0.31%                    76.07%

Ordinary resolution number 7.4: Re-election of Mr. Hendrik JE van Wyk as a member of the Audit & Risk
Committee

            For                      Against                Abstain               Shares voted

       108 585 926                   398 746                430 839                108 984 672

           99.63%                    0.37%                  0.30%                    76.09%

Ordinary resolution number 7.5: Re-election of Mr. Marthinus W von Wielligh as a member of the Audit
& Risk Committee

            For                      Against                Abstain               Shares voted

       98 670 299                10 314 373                430 839                 108 984 672

           90.54%                    9.46%                  0.30%                    76.09%

Ordinary    resolution      number   8:   To   authorise   the   directors   to   reappoint   the   auditor,
PricewaterhouseCoopers Inc. together with Mr. Frans Weilbach as the individual registered auditor and
to fix their remuneration

            For                      Against                Abstain               Shares voted

       108 952 761                   102 153                360 597                109 054 914

           99.91%                    0.09%                  0.25%                    76.14%

Ordinary resolution number 9: Non-binding advisory vote – Remuneration policy

            For                      Against                Abstain               Shares voted

       95 587 325                13 435 661                392 525                 109 022 986

           87.68%                    12.32%                 0.27%                    76.11%

Ordinary resolution number 10: To approve the implementation report in terms of King IV

            For                    Against                  Abstain               Shares voted

       106 481 540               2 541 146                 392 825                109 022 686

          97.67%                   2.33%                    0.27%                    76.11%

Ordinary resolution number 11: To approve the new share appreciation rights (‘SAR’s’) plan rules

            For                    Against                  Abstain               Shares voted

       101 341 724               7 719 576                 354 211                109 061 300

          92.92%                   7.08%                    0.25%                    76.14%

 Ordinary resolution number 12: To authorise the directors or the company secretary to sign
 documentation

            For                    Against                  Abstain               Shares voted

       108 920 515                172 413                  322 583                109 092 928

          99.84%                   0.16%                    0.23%                    76.16%

Special resolution number 1: To give directors general authority to repurchase the Company’s own shares

            For                    Against                  Abstain               Shares voted

       108 527 328                440 059                  226 498                108 967 387

          99.60%                   0.40%                    0.16%                    76.08%

Special resolution number 2: Approval to pay fixed fee annual payments to non-executive directors

            For                    Against                  Abstain               Shares voted

       105 531 406               3 565 959                 318 146                109 097 365

          96.73%                   3.27%                    0.22%                    76.17%

Special resolution number 3: Authority to give financial assistance for subscription of securities

            For                    Against                  Abstain               Shares voted

       102 785 193               6 346 350                 283 969                109 131 542

          94.18%                   5.82%                    0.20%                    76.19%

Special resolution number 4: General authority to provide financial assistance to related or inter-related
companies and others

            For                   Against                  Abstain              Shares voted

       108 969 348                149 423                 296 740                109 118 771

          99.86%                   0.14%                   0.21%                   76.18%

Special resolution number 5: Amendments to the memorandum of incorporation (‘MOI’)

            For                   Against                  Abstain              Shares voted

       106 640 814               2 535 128                239 569                109 175 942

          97.68%                   2.32%                   0.17%                   76.22%

Following the annual general meeting, a business update was presented by Mr. Andries J van Heerden,
the Chief Executive Officer. This presentation is available on the Company’s website www.afrimat.co.za.

2 August 2018

Cape Town
Sponsor: Bridge Capital Advisors Proprietary Limited

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