Wrap Text
Report on proceedings at the annual general meeting
AECI LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1924/002590/06)
Share code: AFE ISIN: ZAE000000220
Hybrid code: AFEP ISIN: ZAE000000238
Bond company code: AECI
LEI: 3789008641F1D3D90E85
(AECI or the Company)
REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING
At the 98th Annual General Meeting (AGM) of the shareholders of AECI held today, 31 May 2022, all the
ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes.
In this regard, AECI confirms the voting statistics from the AGM as follows:
Resolutions Votes cast disclosed as a Number of shares Shares voted Shares
percentage in relation to the voted disclosed as abstained
total number of shares voted a percentage disclosed as a
at the meeting in relation to percentage in
the total relation to the
Ordinary shares (Ord) issued share total issued
B ordinary shares (B Ord) capital (%)* share capital
Ordinary (%)*
shares (Ord) Ordinary shares
B ordinary (Ord)
shares (B B ordinary
Ord) shares (B Ord)
For (%) Against (%)
Ordinary resolution No. 1: 96,63 Ord 3,37 Ord 88 537 420 Ord 83,91 Ord 0.02 Ord
Reappointment of 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0.00 B Ord
independent auditor
Ordinary resolution No. 99,99 Ord 0,01 Ord 88 536 920 Ord 83,91 Ord 0,02 Ord
2.1: Re-election of Non- 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord
executive Director –
Dr KDK Mokhele
Ordinary resolution No. 99,99 Ord 0,01 Ord 88 536 920 Ord 83,91 Ord 0,02 Ord
2.2: Re-election of Non- 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord
executive Director –
Mr SA Dawson
Ordinary resolution No. 99,99 Ord 0.01 Ord 88 536 920 Ord 83.91 Ord 0.02 Ord
2.3: Re-election of Non- 100.00 B Ord 0.00 B Ord 10 117 951 B Ord 100.00 B Ord 0.00 B Ord
executive Director –
Mr WH Dissinger
Ordinary resolution No. 3: 99,99 Ord 0,01 Ord 88 536 913 Ord 83,91 Ord 0,02 Ord
Appointment of 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord
Ms PA Mishic O’Brien as a
Non-executive Director
Ordinary resolution No. 4: 99,84 Ord 0,16 Ord 88 537 413 Ord 83,91 Ord 0,02 Ord
Election of 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord
Ms A Takoordeen as an
Executive Director
Ordinary resolution No. 5: 99,99 Ord 0,01 Ord 88 536 920 Ord 83,91 Ord 0,02 Ord
Re-election of KM Kathan 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord
as an Executive Director
Ordinary resolution No. 99,99 Ord 0,01 Ord 88 536 913 Ord 83,91 Ord 0,02 Ord
6.1: Election of Audit 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord
Committee member –
Ms FFT De Buck
Ordinary resolution No. 99,97 Ord 0,03 Ord 88 536 913 Ord 83,91 Ord 0,02 Ord
6.2: Election of Audit 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord
Committee member –
Mr G Gomwe
Ordinary resolution No. 99,99 Ord 0,01 Ord 88 536 913 Ord 83,91 Ord 0,02 Ord
6.3: Election of Audit 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord
Committee member –
Ms AM Roets
Ordinary resolution No. 99,99 Ord 0,01 Ord 88 536 913 Ord 83,91 Ord 0,02 Ord
6.4: Election of Audit 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord
Committee member –
Ms PG Sibiya
Ordinary resolution 95,17 Ord 4,83 Ord 88 535 913 Ord 83,91 Ord 0,02 Ord
No.7.1: Remuneration 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord
Policy
Ordinary resolution 95,25 Ord 4,75 Ord 88 535 913 Ord 83,91 Ord 0,02 Ord
No.7.2: Implementation 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord
of Remuneration Policy
Ordinary resolution 99,74 Ord 0,26 Ord 88 499 692 Ord 83,87 Ord 0,06 Ord
No.8: Approval of the 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord
amended rules of the
2012 Long-term Incentive
Plan
Special resolution No. 1.1: 96,66 Ord 3,34 Ord 88 510 286 Ord 83,88 Ord 0,05 Ord
Directors’ fees and 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord
remuneration - Board:
Chairman
Special resolution No. 1.2: 99,99 Ord 0,01 Ord 88 501 349 Ord 83,87 Ord 0,05 Ord
Directors’ fees - Board: 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord
Non-executive Directors
Special resolution No. 1.3: 99,99 Ord 0,01 Ord 88 501 349 Ord 83,87 Ord 0,05 Ord
Directors’ fees - Audit 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord
Committee: Chairman
Special resolution No. 1.4: 99,99 Ord 0,01 Ord 88 501 349 Ord 83,87 Ord 0,05 Ord
Directors’ fees - Other 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord
Board Committees:
Chairman
Special resolution No. 1.5: 99,99 Ord 0.01 Ord 88 501 349 Ord 83.87 Ord 0.05 Ord
Directors’ fees - Audit 100,00 B Ord 0.00 B Ord 10 117 951 B Ord 100.00 B Ord 0.00 B Ord
Committee: member
Special resolution No. 1.6: 99,99 Ord 0,01 Ord 88 501 349 Ord 83,87 Ord 0,05 Ord
Directors’ fees - Other 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord
Board Committees:
member
Special resolution No. 1.7: 99,99 Ord 0,01 Ord 88 501 349 Ord 83,87 Ord 0,05 Ord
Directors’ fees - Meeting 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord
attendance fee (includes
ad hoc meetings)
Special resolution No. 1.8: 100,00 Ord 0,00 Ord 88 501 349 Ord 83,87 Ord 0,05 Ord
Directors’ fees - Per-trip 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord
allowance
Special resolution No. 2: 99,94 Ord 0,06 Ord 88 371 850 Ord 83,75 Ord 0,18 Ord
General authority to 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord
repurchase shares
Special resolution No. 3: 100,00 Ord 0,00 Ord 88 537 570 Ord 83,91 Ord 0,02 Ord
Financial assistance to 100,00 B Ord 0,00 B Ord 10 117 951 B Ord 100,00 B Ord 0,00 B Ord
related or inter-related
company
* The issued ordinary share capital is 105 517 780 listed ordinary shares, 10 117 951 unlisted redeemable
convertible B ordinary shares and 3 000 000 listed cumulative preference shares.
The special resolutions will, where necessary, be lodged for registration with the Companies and Intellectual
Property Commission in due course.
Woodmead, Sandton
31 May 2022
Equity and Debt Sponsor:
Rand Merchant Bank (A division of FirstRand Bank Limited)
Date: 31-05-2022 02:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.