MONTAUK HOLDINGS LIMITED - Results of The Annual General Meeting and Change to The Board of Directors

Results of The Annual General Meeting and Change to The Board of Directors

MONTAUK HOLDINGS LIMITED
Registration number: 2010/017811/06
(Incorporated in the Republic of South Africa)
JSE share code: MNK ISIN: ZAE000197455
(“Montauk” or the “Company”)

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

Shareholders are hereby advised that at the annual general meeting of the Company held at 14:00 on the
5 September 2018 at Suite 801, 76 Regent Street, Sea Point, 8005 (“AGM”), all of the resolutions were
passed by the requisite majority of Montauk shareholders. The detailed voting results of the AGM are set
out below:

                                                                       % of issued
                                                                                           Number of shares
                                                                      share capital

     Total number of shares present/represented including
     proxies at meeting (including shares abstained from                  62.48               82 142 674
     voting)


  There were no shares abstained at the AGM.

                                                            Votes for resolution      Votes against resolution

Resolution No                 Description



Ordinary          Election of director: Mr M H Ahmed        858 140 28      99.62%     328 646         0.38%
resolution 1.1

Ordinary          Election of director: Mr B S Raynor       86 089 015      99.94%       53 659        0.06%
resolution 1.2

Ordinary          Election of director: Mr T G
resolution 1.3    Govender                                  86 088 655      99.94%       54 019        0.06%

Ordinary          Reappointment of auditor: Grant
resolution 2      Thornton Johannesburg                     86 142 314        100%          360            0.%

Ordinary          Appointment of audit committee            85 973 970      99.80%     168 704         0.02%
resolution 3.1    member: Mr M H Ahmed

Ordinary          Appointment of audit committee            86 142 674        100%            0            0%
resolution 3.2    member: Ms N B Jappie

Ordinary          Appointment of audit committee            86 142 674        100%            0            0%
resolution 3.3    member: Mr B S Raynor


Ordinary          General authority over unissued           85 481 384      99.23%     661 290         0.77%
resolution 4      shares

                 
                  Advisory endorsement of
Non-binding       Remuneration Policy for the year          82 544 926      95.82%    3 597 748        4.18%
advisory vote 1   ended 31 March 2018
                  
                  Advisory endorsement of
Non-binding       Remuneration Implementation
advisory vote 2   Report for the year ended 31              85 707 964      99.50%     434 710         0.50%
                  March 2018
                  

Special           General authority to issue shares         85 481 384      99.23%     661 290         0.77%
resolution 1      and options for cash


Special           Approval of annual fees to be paid        86 142 314        100%         360            0%
resolution 2      to non-executive directors

                
Special         General authority to repurchase
resolution 3    company shares                              86 013 257       99.85%     129 417          0.1%

                General authority to provide
Special         financial assistance in terms of
resolution 4    sections 44 and 45 of the                   82 786 670       96.10%   3 356 004         3.90%
                Companies Act
                
Ordinary        Authorisation of directors to
resolution 5    implement resolutions passed                86 142 674         100%            0          0%



  In accordance with paragraph 3.59 of the JSE Listings Requirements. Montauk Holdings
  shareholders are advised that the following changes have been made to the Montauk Holdings
  Board of Directors:

  Mr Andre van der Veen retired as a director of the Company in accordance with the
  Company’s memorandum of incorporation with effect from the date of the company’s AGM on 5th
  September 2018. The Board thanks Andre for his positive contribution to the Company during
  his tenure and wishes him the very best in his future endeavours.


  As per ordinary resolution number 1.3 Mr Kevin Govender has been elected as a non-executive
  director of the Company. Kevin is the financial director of Hosken Consolidated Investments
  Limited, the previous holding company of Montauk, and has held various positions within the HCI
  group since he joined the group in 1997. He holds directorships in numerous HCI subsidiaries,
  including the Deneb Investments, Hosken Passenger Logistics and Rail and eMedia Holdings
  which are listed on the JSE. Kevin is also a trustee of the HCI Foundation.

  Cape Town
  6 September 2018

  Sponsor
  Investec Bank Limited

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