ACSION LIMITED - Changes to the board of directors and results of annual general meeting

Changes to the board of directors and results of annual general meeting

Acsion Limited
Incorporated in the Republic of South Africa
(Registration number 2014/182931/06)
Share code: ACS
ISIN: ZAE000198289
(“Acsion”)

CHANGES TO THE BOARD OF DIRECTORS AND RESULTS OF ANNUAL GENERAL MEETING

Changes to the board of directors

In compliance with paragraph 3.59 of the JSE Limited Listings Requirements shareholders are advised that
Adv David Green and Mr Nicholas Bila did not offer themselves for re-election at the annual general
meeting of Acsion held on Thursday, 6 August 2020 and have consequently retired from the board of
directors of Acsion (the “Board”) with immediate effect.

The Board wishes to thank Adv Green and Mr Bila for their valuable contribution over the years.

Following the retirement of Adv Green and Mr Bila, a further announcement in respect of the
reconstitution of the board committees will be released on SENS in due course.

Results of annual general meeting

Shareholders are advised that the voting results for the annual general meeting (“AGM”) of Acsion held at
Acsion Offices on Thursday, 6 August 2020 were as follows:

 Resolution                             Number of    Percentage        For**   Against**     Abstained
                                          ordinary   of ordinary           %           %           ***
                                      shares voted     shares in                                     %
                                                          issue*
                                                               %
 Ordinary Resolution 1:               313 457 626          79.36      100.00         0.00         0.00
 Adoption of the Annual
 Financial Statements
 Ordinary Resolution 2:               313 457 626          79.36      100.00         0.00         0.00
 Adoption of the Audit and Risk
 Committee report
 Ordinary Resolution 3:                                         Withdrawn
 Adoption of the Remuneration
 Committee report
 Ordinary Resolution 4:                                         Withdrawn
 Adoption of Social and Ethics
 Committee report
 Ordinary Resolution 5.1:                                       Withdrawn
 Confirmation of D Green as
 director
 Ordinary Resolution 5.2:                                       Withdrawn
 Confirmation of N Bila as
 director
 Ordinary Resolution 5.3:             313 457 626          79.36       99.88         0.12         0.00
 Confirmation of T Jali as director
 Ordinary Resolution 5.4:             313 457 626          79.36      100.00         0.00         0.00
 Confirmation of D Sekete as
 director
 Ordinary Resolution 5.5:             313 457 626          79.36      100.00         0.00         0.00
 Confirmation of M Hlobo as
 director
 Ordinary Resolution 6.1:             313 457 626          79.36      100.00         0.00         0.00
 Reappointment of M Hlobo as a
 member of the Audit and Risk
 Committee
 Ordinary Resolution 6.2:
 Reappointment of N Bila as a                                    Withdrawn
 member of the Audit and Risk
 Committee
 Ordinary Resolution 6.3:                                        Withdrawn
 Reappointment of D Green as a
 member of the Audit and Risk
 Committee
 Ordinary Resolution 7:               313 457 626          79.36       100.00       0.00          0.00
 Appointment of auditor
 Ordinary Resolution 8:               313 457 626          79.36        96.45       3.55          0.00
 Authority to issue shares
 pursuant to a reinvestment of
 dividends
 Ordinary Resolution 9:               313 457 626          79.36       100.00       0.00          0.00
 Signature of documents
 Ordinary Resolution 10:              313 457 626          79.36        96.45       3.55          0.00
 General authority to issue
 shares for cash
 Advisory Vote 1:                     313 457 626          79.36        96.45       3.55          0.00
 Advisory endorsement of
 remuneration policy
 Advisory Vote 2:                     313 457 626          79.36        96.33       3.67          0.00
 Advisory endorsement of
 remuneration policy
 implementation
 Special Resolution 1:                313 457 626          79.36       100.00       0.00          0.00
 Approval of 2021 fees payable
 to non-executive directors
 Special Resolution 2:                313 457 626          79.36        96.45       3.55          0.00
 Share repurchase
 Special Resolution 3:                313 457 626          79.36        96.45       3.55          0.00
 Financial assistance to related
 and inter-related parties
 Special Resolution 4:                313 457 626          79.36        96.45       3.55          0.00
 Authority to issue shares to
 directors who elect dividend
 reinvestment options

*     Based on 394 959 976 shares in issue at the date of the AGM.
**    In relation to the total number of shares voted at the AGM.
***   In relation to the total number of shares in issue at the date of the AGM.

Based on the above voting results, all resolutions were passed by the requisite majority of Acsion
shareholders present in person or represented by proxy at the AGM.

7 August 2020

Sponsor
Nedbank Corporate and Investment Banking

Date: 07-08-2020 09:03:00
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.