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Results of the 87th annual general meeting
Mr Price Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1933/004418/06)
ISIN: ZAE000200457
LEI number: 378900D3417C35C5D733
JSE and A2X Share Code: MRP
("Mr Price Group" or "the Group")
RESULTS OF THE 87th ANNUAL GENERAL MEETING
Shareholders are advised that, at the Mr Price Group Annual General Meeting (“AGM”) held yesterday, Wednesday, 26 August 2020, all the ordinary and special
resolutions as set out in the notice of AGM dated 10 July 2020 were passed by the requisite majority of votes of shareholders present in person or represented by proxy.
The total number of shares present or represented, including by proxy, at the AGM was 72.52% of the Group’s issued share capital* as at Friday 21 August 2020, being
the AGM voting record date. The voting results were as follows:
Votes cast as a Votes cast as a % of the Number of shares Shares voted as Shares abstained
combined % of the number of shares voted at voted a % of issued as a % of issued
total number of shares the meeting share capital* share capital*
Resolutions voted (Ordinary shares Ordinary shares (“Ord”) Ordinary shares Ordinary shares
and B ordinary shares) B ordinary shares (“B Ord”) (“Ord”) (“Ord”)
at the meeting B ordinary B ordinary shares
shares (“B Ord”) (“B Ord”)
For Against For Against
Ordinary resolution 1 - Adoption of the 99.96 0.04 99.94 Ord 0.06 Ord 183 751 395 Ord 71.49 Ord 0.19 Ord
annual financial statements 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
Ordinary resolutions 2.1 to 2.3 - Re-
election of directors retiring by rotation
2.1 Nigel Payne 88.67 11.33 82.83 Ord 17.17 Ord 183 768 212 Ord 71.49 Ord 0.19 Ord
100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
2.2 Bobby Johnston 89.55 10.45 84.17 Ord 15.83 Ord 183 984 986 Ord 71.58 Ord 0.10 Ord
100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
2.3 Maud Motanyane-Welch 96.04 3.96 94.00 Ord 6.00 Ord 183 984 986 Ord 71.58 Ord 0.10 Ord
100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
Ordinary resolution 3 - Re-election of 81.56 18.44 72.05 Ord 27.95 Ord 183 927 050 Ord 71.55 Ord 0.13 Ord
independent auditor 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
Ordinary resolutions 4.1 to 4.4 - Election
of members of the audit and compliance
committee
4.1 Bobby Johnston 77.93 22.07 66.56 Ord 33.44 Ord 183 984 986 Ord 71.58 Ord 0.10 Ord
100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
4.2 Daisy Naidoo 84.23 15.77 76.11 Ord 23.89 Ord 183 984 986 Ord 71.58 Ord 0.10 Ord
100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
4.3 Mark Bowman 87.84 12.16 81.58 Ord 18.42 Ord 183 984 986 Ord 71.58 Ord 0.10 Ord
100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
4.4 Mmaboshadi Chauke 88.28 11.72 82.24 Ord 17.76 Ord 183 984 986 Ord 71.58 Ord 0.10 Ord
100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
Ordinary resolution 5 - Non-binding 81.65 18.35 72.09 Ord 27.91 Ord 181 851 304 Ord 70.75 Ord 0.93 Ord
advisory vote on the remuneration policy** 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
(see commentary below)
Ordinary resolution 6 - Non-binding 81.99 18.01 72.57 Ord 27.43 Ord 180 997 628 Ord 70.41 Ord 1.27 Ord
advisory vote on the remuneration 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
implementation report**
(see commentary below)
Ordinary resolution 7 - Adoption of the 99.16 0.84 98.73 Ord 1.27 Ord 183 751 889 Ord 71.49 Ord 0.19 Ord
SETS committee report 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
Ordinary resolution 8 - Signature of 99.99 0.01 99.99 Ord 0.01 Ord 183 985 592 Ord 71.58 Ord 0.10 Ord
documents 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
Ordinary resolution 9 - Control of 78.37 21.63 67.24 Ord 32.76 Ord 183 985 592 Ord 71.58 Ord 0.10 Ord
unissued shares (excluding issues for 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
cash)
Ordinary resolution 10 – General issue of 76.81 23.19 64.51 Ord 35.49 Ord 178 696 611 Ord 69.52 Ord 0.10 Ord
shares for cash 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
Special resolutions 1.1 to 1.12 - Non-
executive director remuneration:
1.1 Independent non-executive chair of 99.71 0.29 99.55 Ord 0.45 Ord 183 988 491 Ord 71.58 Ord 0.10 Ord
the board – R 1 636 583 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
1.2 Honorary chair of the board – R818 98.31 1.69 97.44 Ord 2.56 Ord 183 867 274 Ord 71.53 Ord 0.15 Ord
291 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
1.3 Lead independent director of the 99.71 0.29 99.55 Ord 0.45 Ord 183 990 991 Ord 71.58 Ord 0.10 Ord
board – R484 523 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
1.4 Non-executive directors – R405 908 99.71 0.29 99.56 Ord 0.44 Ord 183 990 991 Ord 71.58 Ord 0.10 Ord
100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
1.5 Audit and compliance committee chair 99.82 0.18 99.73 Ord 0.27 Ord 183 990 991 Ord 71.58 Ord 0.10 Ord
– R281 164 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
1.6 Audit and compliance committee 99.84 0.16 99.75 Ord 0.25 Ord 183 990 991 Ord 71.58 Ord 0.10 Ord
members – R149 932 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
1.7 Remuneration and nominations 99.82 0.18 99.73 Ord 0.27 Ord 183 990 991 Ord 71.58 Ord 0.10 Ord
committee chair – R206 904 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
1.8 Remuneration and nominations 99.83 0.17 99.75 Ord 0.25 Ord 183 990 991 Ord 71.58 Ord 0.10 Ord
committee members – R108 046 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
1.9 SETS committee chair – R164 909 99.82 0.18 99.73 Ord 0.27 Ord 183 992 041 Ord 71.58 Ord 0.10 Ord
100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
1.10 SETS committee members – 99.84 0.16 99.75 Ord 0.25 Ord 183 990 991 Ord 71.58 Ord 0.10 Ord
R 104 728 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
1.11 Risk and IT committee members - R 99.83 0.17 99.74 Ord 0.26 Ord 183 990 991 Ord 71.58 Ord 0.10 Ord
130 896 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
1.12 Risk and IT committee - IT specialist 99.70 0.30 99.54 Ord 0.46 Ord 183 990 991 Ord 71.58 Ord 0.10 Ord
- R 295 476 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
Special resolution 2 – General authority to 99.22 0.78 98.80 Ord 1.20 Ord 178 676 751 Ord 69.51 Ord 0.11 Ord
repurchase shares 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
Special resolution 3 - Financial assistance 99.67 0.33 99.50 Ord 0.50 Ord 183 987 983 Ord 71.58 Ord 0.10 Ord
to related or inter-related companies 100.00 B Ord 0.00 B Ord 7 895 034 B Ord 100.00 B Ord 0.00 B Ord
* The total issued share capital as at the AGM voting record date was 257,045,727 ordinary shares and 7,895,234 B-ordinary shares
** Ahead of the AGM the Group sent communication to 25 shareholders representing approximately 67.3% of its issued ordinary shares for purposes of engaging generally
on the resolutions proposed at the AGM and particularly on the Group’s remuneration policy and remuneration implementation report. Through this process, the Group
actively engaged with 16 of these shareholders. The Group is encouraged by the 72.09% of ordinary share votes in favour of ordinary resolution 5 (2019 AGM: 49.66%)
and 72.57% of ordinary share votes in favour of ordinary resolution 6 (2019 AGM: 42.28%), and shareholder acknowledgement of positive adjustments made to the
remuneration policy and remuneration implementation report following engagement last year.
Shareholders are invited to advise the Group of their reasons for their dissenting votes on the remuneration policy and/or the implementation thereof (to the extent
shareholders have not already done so), and whether they wish to engage with the Group on these issues. Correspondence in this regard should be addressed by email to
the Head of Investor Relations, Matthew Warriner (mwarriner@mrpg.com), by 30 September 2020. The Group will engage with shareholders in more detail prior to making
awards under the new long-term incentive plan and requests for shareholder engagement on the above will be individually scheduled as part of this process. The Group
stands by its remuneration philosophy of “partnership” and the intention is, and will always be, to apply this philosophy and policy consistently and appropriately.
Durban
27 August 2020
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 27-08-2020 07:05:00
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