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Report on proceedings at the annual general meeting
African Rainbow Capital Investments Limited
(Incorporated in the Republic of Mauritius
(Registration number C148430)
Share code: AIL
ISIN: MU0553S00000
("ARC Investments" or “the Company”)
REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING
At the second (2nd) Annual General Meeting (“AGM”) of the shareholders of ARC Investments held yesterday, Monday 18 November 2019 all the ordinary resolutions
and one special resolution proposed at the meeting were approved by the requisite majority of votes. In this regard, the Company confirms the voting statistics from the
AGM as follows:
Number of votes (one vote per one A ordinary share)
Votes cast disclosed as
a percentage in relation Shares voted Shares abstained
to the total number of disclosed as a disclosed as a
Resolutions shares voted at the percentage in percentage in
meeting relation to the relation to the
Number of total issued total issued
For Against shares voted shares* shares*
Ordinary Resolution 1
Consideration and approval of the Audited Annual Financial Statements 100% 0.00% 860 967 736 82.39% 0.03%
Ordinary Resolution 2
Election and re-election of Directors
2.1 Election and re-election of Dr R Mokate as a Director 97.03% 2.97% 860 977 736 82.39% 0.03%
2.2 Election and re-election of Mr T Lo-Seen Chong as a Director 100% 0.00% 860 967 736 82.39% 0.03%
2.3 Election and re-election of Mr A Currimjee as a Director 97.35% 2.65% 860 977 736 82.39% 0.03%
Ordinary Resolution 3
Election of members of the Audit Committee
3.1 Election of Dr R Mokate as a member of the Audit Committee 80.77% 19.23% 860 977 736 82.39% 0.03%
3.2 Election of Mr C Msipha as a member of the Audit Committee 100% 0.00% 860 967 736 82.39% 0.03%
3.3 Election of Mr T Lo-Seen Chong as a member of the Audit Committee 76.26% 23.74% 856 036 404 81.91% 0.50%
3.4 Election of Mr A Currimjee as a member of the Audit Committee 97.33% 2.67% 856 036 404 81.91% 0.50%
Ordinary Resolution 4
Re-appointment of PricewaterhouseCoopers Inc. 100% 0% 860 987 736 82.39% 0.03%
Ordinary Resolution 5
General authority for directors to allot and issue A-ordinary shares for cash 96.56% 3.44% 860 967 736 82.39% 0.03%
Ordinary Resolution 6
Non-binding advisory vote on the Company’s remuneration policy 97.47% 2.53% 860 961 836 82.38% 0.03%
Ordinary Resolution 7
Non-binding advisory vote on the Company’s remuneration implementation report 97.47% 2.53% 860 961 836 82.38% 0.03%
Ordinary Resolution 8
Proposed approval of remuneration payable to non-executive directors 97.35% 2.65% 860 954 836 82.38% 0.03%
Special Resolution 1
Repurchase of Company’s shares 99.68% 0.32% 861 008 909 82.39% 0.02%
*Total issued shares is 1 045 047 714 A ordinary shares.
The above results of the Annual General Meeting will be lodged with the Financial Services Commission in Mauritius today, on 19 November 2019.
By order of the Board of Directors
Ebene, Mauritius (with simultaneous circulation in Johannesburg)
19 November 2019
For further information please contact:
Company Secretary
Intercontinental Trust Limited
Tel: +230 430 0800
JSE Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Tel: +27 11 282 8231
Date: 19/11/2019 09:55:00
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