HULISANI LIMITED - Modification to Notice of Annual General Meeting

Release Date: 07/09/2018 17:19
Code(s): HUL
 
Wrap Text
Modification to Notice of Annual General Meeting

HULISANI LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2015/363903/06)
Share code: HUL
ISIN: ZAE000212072
(“Hulisani” or “the Company”)

MODIFICATION TO NOTICE OF ANNUAL GENERAL MEETING

Shareholders are referred to the notice of the Annual General Meeting (“AGM”) as contained
in the Integrated Annual Report that was distributed to shareholders on 31 July 2018,
providing notice to shareholders of Hulisani’s AGM to be held at 14:00 on Monday, 17
September 2018 (“Notice of AGM”).

Shareholders are hereby advised of the following modifications to the Notice of AGM and
Form of Proxy:

Special Resolution Number 1: Remuneration of Non- Executive Directors
Special Resolution Number 1 has been amended to include that remuneration payable to the
Non-Executive Directors and Committee Members for participating in special and/or
unscheduled Board or Committee Meetings or ad hoc strategic planning sessions will be
remunerated in accordance with the attendance fee per meeting as set out below, which was
omitted from the Notice of AGM.

Accordingly, the annual remuneration payable to the Non-Executive Directors of the
Company to be approved by shareholders in terms of Special Resolution Number 1 is as
follows:
Annual Fee

                                                                Detailed Fee:         Total as per
                                                                                      Notice of
                                                                                      AGM:
                                               No. of     Attendance    Base fee
                                               meetings   fee per       per annum
                                                          meeting 2
 Chairperson - Board of Directors              5          41,340        111,300        318,000
 Directors - Board of Directors                5          26,564        71,519         204,340

 Chairperson - Investment Committee            6          21,667        70,000         200,000
 Member - Investment Committee                 6          18,958        61,250         175,000

 Chairperson - Audit & Risk Committee          6          21,667        70,000         200,000
 Member - Audit & Risk Committee               6          18,958        61,250         175,000

 Chairperson - Remuneration & Nomination 3                21,667        35,000         100,000
 Committee
 Member - Remuneration & Nomination 3                     16,250        26,250         75,000
 Committee

 Chairperson - Social & Ethics Committee      2           16,101        17,339         49,540
 Member - Social & Ethics Committee           2           15,771        16,984         48,525


Notes:
1. The annual fees are exclusive of Value Added Tax (“VAT”) which will be payable to those
Non-Executive Directors who are registered for VAT and who submit a valid VAT invoice to
the Company in accordance with prevailing legislation. The proposed fee set out in this
resolution represent a 0% increase on the Non-Executive Directors’ fees which were
approved by shareholders at the annual general meeting held on 18 October 2017.

2. The Remuneration payable to Non-Executive Directors and Committee Members for
participating in special/unscheduled Board or Committee meetings and ad hoc strategic
planning sessions will be remunerated in accordance with the attendance fee per meeting
for that Board or Committee Meeting.

The amended notice of AGM and Form of Proxy is available on the Company’s website,
www.hulisani.co.za

Johannesburg
7 September 2018

Sponsor
PSG Capital

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