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GRAND PARADE INVESTMENTS LIMITED - Feedback On Engagement With Shareholders

Release Date: 03/07/2020 10:00
Code(s): GPL     PDF:  
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Feedback On Engagement With Shareholders

GRAND PARADE INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1997/003548/06)
Share code: GPL
ISIN: ZAE000119814
(“GPI” or “the Company”)

FEEDBACK ON ENGAGEMENT WITH SHAREHOLDERS

Further to the announcement released on SENS on 12 June 2020 relating to GPI’s invitation
to shareholders to engage with the Company on the remuneration policy and the
implementation of the remuneration policy, shareholders are advised that the video
conference (“Video Conference”) took place today, 2 July 2020. Details thereof are as
follows:

1. Of the 49.66% who voted against the policy and the 48.61% who voted against the
   implementation of the policy, 6 parties, representing 25.05% shareholding in GPI,
   participated in the Video Conference (“Participating Shareholders”).

2. The Participating Shareholders raised concerns regarding historical short-term and long-
   term incentives paid to executives as well as the targets and weighting of KPI’s for
   executive management given the change in the businesses strategy going forward.

3. The remuneration and nomination committee of GPI ("Committee") advised that it remains
   committed to ensuring that the current management team is being fairly paid and properly
   incentivised to achieve the business strategy however the final details of the executive
   remuneration structure will be firmed up over the next few months in light of the current
   challenges facing the business as a result of the Covid-19 pandemic.

Cape Town
3 July 2020

Sponsor
PSG Capital

Date: 03-07-2020 10:00:00
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