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AFRICAN RAINBOW CAPITAL INVESTMENTS LIMITED - Report on proceedings at the inaugural annual general meeting

Release Date: 14/11/2018 08:40
Code(s): AIL     PDF:  
 
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Report on proceedings at the inaugural 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 inaugural annual general meeting

At the first (1st) Annual General Meeting (“AGM”) of the shareholders of ARC Investments held yesterday, 13 November 2018 all the ordinary and special resolutions
proposed at the AGM 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)

                                                                                       Shares voted in         Shares voted
Resolutions                                                                         favour in relation   against in relation       Shares abstained       Shares voted
                                                                                   to the total shares   to the total shares     in relation to the     in relation to
                                                                                                 voted                 voted           total issued          the total
                                                                                                                                            shares*     issued shares*
Special Resolution 1                                                                       877 033 385             3 584 115                 22 855       880 617 500
   General Authority to acquire or repurchase shares in the Company                           (99.59%)               (0.41%)                (0.00%)           (85.29%)
Special Resolution 2                                                                       773 547 797           107 058 238                 34 320       880 606 035
   General Authority of the Board to issue A Ordinary shares for cash                         (87.84%)              (12.16%)                (0.00%)          (85.29%)
Ordinary Resolution 1                                                                      880 616 147                   -                   24 208       880 616 147
Consideration and approval of the Audited Annual Financial Statements                        (100.00%)               (0.00%)                (0.00%)          (85.29%)
Ordinary Resolution 2
Appointment and re-appointment of Directors
2.1 Appointment of Dr R Mokate as a Director                                               880 520 397                    -                119 958        880 520 397
                                                                                             (100.00%)               (0.00%)               (0.01%)           (85.28%)
2.2 Appointment of Mr M Olivier as a Director                                              862 140 033            18 380 364               119 958        880 520 397
                                                                                              (97.91%)               (2.09%)               (0.01%)           (85.28%)
2.3 Appointment of Mr C Msipha as a Director                                               880 484 008                36 389               119 958        880 520 397
                                                                                             (100.00%)               (0.00%)               (0.01%)           (85.28%)
2.4 Appointment of MR T Lo-Seen Chong as a Director                                        880 503 828                16 569               119 958        880 520 397
                                                                                             (100.00%)               (0.00%)               (0.01%)           (85.28%)
2.5 Appointment of Ms BN Radebe as a Director                                              880 520 397                    -               119 958         880 520 397
                                                                                            (100.00%)                (0.00%)               (0.01%)           (85.28%)
Ordinary Resolution 3
Appointment and re-appointment of members of the Audit and Risk Committee
3.1 Appointment of Mr C Msipha as a member of the Audit and Risk Committee                880 484 008                 36 389               119 958        880 520 397
                                                                                            (100.00%)                (0.00%)               (0.01%)           (85.28%)
3.2 Appointment of Mr T Lo-Seen Chong as a member of the Audit and Risk                   709 718 861            170 801 536               119 958        880 520 397
   Committee                                                                                 (80.60%)               (19.40%)               (0.01%)           (85.28%)
3.3 Appointment of Dr R Mokate as a member of the Audit and Risk Committee                880 520 397                     -               119 958         880 520 397
                                                                                            (100.00%)                (0.00%)              (0.01%)            (85.28%)
Ordinary Resolution 4
Endorsement of Remuneration Policy and Implementation Report
4.1 Endorsement of Remuneration Policy                                                    870 697 963              9 910 072               32 320         880 608 035
                                                                                             (98.87%)                (1.13%)              (0.00%)            (85.29%)
4.2 Endorsement of Implementation Report                                                  876 696 970              3 919 662               23 723         880 616 632
                                                                                             (99.55%)                (0.45%)              (0.00%)            (85.29%)
Ordinary Resolution 5                                                                     880 557 920                 50 177               32 258         880 608 097
Approval of Non-Executive Directors’ Remuneration                                            (99.99%)                (0.01%)              (0.00%)            (85.29%)
Ordinary Resolution 6
Re-appointment of the Independent Auditor
6.1 Re-appointment of PricewaterhouseCoopers Inc as Registered Independent
   Auditor, and Chantel van den Heever as designated audit partner for JSE                851 177 045             29 440 455               22 855        880 617 500
   regulatory matters until the next Annual General Meeting                                  (96.66%)                (3.34%)              (0.00%)           (85.29%)
6.2 Re-appointment of PricewaterhouseCoopers as Registered Independent
   Auditor, and Gilles Beesoo as designated audit partner for Mauritian regulatory        851 177 045             29 440 455               22 855        880 617 500
   matters until the next Annual General Meeting                                             (96.66%)                (3.34%)              (0.00%)           (85.29%)

Ordinary Resolution 7                                                                     880 611 500                     -                28 855        880 611 500
General Authority of the Company                                                            (100.00%)                (0.00%)              (0.00%)           (85.29%)

*Total issued shares are 1 032 470 588.

The above results of the Annual General Meeting will be lodged with the Financial Services Commission in Mauritius on 14 November 2018 and published in two
newspapers in Mauritius.

By order of the Board of Directors
Ebene, Mauritius (with simultaneous circulation in Johannesburg)
14 November 2018

For further information please contact:

Company Secretary:
Intercontinental Trust Limited
Tel: +230 403 0800

JSE Sponsor:
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Tel: + +27 11 282 8231

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