FIRSTRAND LIMITED - Engagement with shareholders with regards to FirstRands remuneration policy and remuneration implementation report

Release Date: 11/01/2019 15:36
Code(s): FSR FSRP
 
Wrap Text
Engagement with shareholders with regards to FirstRand’s remuneration policy and remuneration implementation report

FIRSTRAND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/010753/06)
JSE ordinary share code: FSR ISIN: ZAE000066304
JSE B preference share code: FSRP ISIN: ZAE000060141
NSX ordinary share code: FST
(FirstRand or the group)

ENGAGEMENT WITH SHAREHOLDERS WITH REGARDS TO FIRSTRAND’S REMUNERATION
POLICY AND REMUNERATION IMPLEMENTATION REPORT


Shareholders are referred to the announcement dated 30 November 2018 relating to the results of voting
at FirstRand’s annual general meeting. The non-binding advisory resolutions on the endorsement of the
remuneration policy and remuneration implementation report were not approved by the requisite majority
of votes. In terms of the recommendations of the King IV Report on Corporate Governance for South Africa,
2016 and paragraph 3.84(k) of the JSE Limited Listings Requirements, shareholders are hereby informed
as follows:

FirstRand believes that executive remuneration must align with shareholder value creation and believes
that the group’s key performance measure, net income after cost of capital (NIACC), ensures that the link
between pay and performance is a direct one.

The group therefore invites its shareholders to directly raise concerns or recommendations with the group
chairman, Roger Jardine, and the chairman of the group remuneration committee, Grant Gelink, by a
telephone conference to be held at 16:00 SA time on Thursday, 31 January 2019.

Shareholders who wish to participate in the telephone conference are requested to contact the Group
Company Secretary, Carnita Low, at the telephone number or email addresses provided below, by 17:00
on Monday, 28 January 2019, to obtain further details of the telephone conference.

Shareholders are further invited to forward their concerns or questions on the remuneration policy and the
implementation thereof to the Group Company Secretary in writing by close of business on Monday, 28
January 2019.

Enquiries:

Carnita Low – Group Company Secretary
+27 11 282 1820
E-mail: Carnita.low@firstrand.co.za with a copy to companyoffice@firstrand.co.za

Sandton
11 January 2019

Sponsor
RAND MERCHANT BANK (a Division of FirstRand Bank Limited)

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