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SABVEST LIMITED - Report on proceedings at the annual general meeting

Release Date: 14/05/2019 17:13
Code(s): SBV SVN     PDF:  
 
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Report on proceedings at the annual general meeting

SABVEST LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/003753/06)
Share code: SBV – ordinary shares / SVN – ‘N’ ordinary shares
ISIN: ZAE000006417 – ordinary shares / ISIN: ZAE000012043 – ‘N’ ordinary shares
("Sabvest” or “the Company”)

REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING

At the annual general meeting (“AGM” or “the meeting”) of the shareholders of Sabvest held today, 14 May 2019, all the ordinary and
special resolutions 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:

Total number of shares voted for and against and disclosed as a percentage in relation to the total issued share capital, for all
resolutions:

                          Total issued share capital    Total number of               Percentage of
                                                        shares present or             shares voted
                                                        represented by proxy
Ordinary shares*          16 975 293                    11 930 758                    70,3%
‘N’ ordinary shares*      24 826 919                    7 297 217                     29,4%

* Each ordinary share (“Ord”) has 500 votes and each ‘N’ ordinary share (“N Ord”) has one vote.

                          Total number of votes         Total number of               Percentage of
                                                        votes present or              votes voted
                                                        represented by proxy

 Total number of votes    8 515 473 419                 5 972 718 717                 70,1%

Total number of members present:         9
Total number of abstentions:             1

Resolutions                                              Votes carried disclosed as a          Shares abstained disclosed    Shares voted disclosed as a
                                                         percentage in relation to the total   as a percentage in relation   percentage in relation to the total
                                                         number of shares voted at the         to the total issued share     issued share capital
                                                         meeting                               capital

                                                         For                Against

Ordinary resolutions
1.    Re-election of Mr B J T Shongwe as director        99,99% Ord         0,01% Ord          0% Ord                        70,3% Ord
                                                         100% N Ord         0% N Ord           0,01% N Ord                   29,4% N Ord

2.    Re-election of Ms L Mthimunye as director          99,99% Ord         0,01% Ord          0% Ord                        70,3% Ord
                                                         100% N Ord         0% N Ord           0,01% N Ord                   29,4% N Ord    
                                                                                                                             
3.    Re-election of Mr C S Seabrooke as director        99,99% Ord         0,01% Ord          0% Ord                        70,3% Ord
                                                         100% N Ord         0% N Ord           0,01% N Ord                   29,4% N Ord

4.    Re-election of Mr L Rood as director               99,99% Ord         0,01% Ord          0% Ord                        70,3% Ord
                                                         100% N Ord         0% N Ord           0,01% N Ord                   29,4% N Ord

5.    Re-appointment of Deloitte & Touche as             99,99% Ord         0,01% Ord          0% Ord                        70,3% Ord
      independent external auditors                      100% N Ord         0% N Ord           0,01% N Ord                   29,4% N Ord

6.    Re-election of Audit Committee member -            99,99% Ord         0,01% Ord          0% Ord                        70,3% Ord
      Mr N S H Hughes                                    100% N Ord         0% N Ord           0,01% N Ord                   29,4% N Ord

7.    Re-election of Audit Committee member -            99,99% Ord         0,01% Ord          0% Ord                        70,3% Ord
      Mrs D N M Mokhobo                                  100% N Ord         0% N Ord           0,01% N Ord                   29,4% N Ord

8.    Re-election of Audit Committee member -            99,99% Ord         0,01% Ord          0% Ord                        70,3% Ord
      Ms L Mthimunye                                     100% N Ord         0% N Ord           0,01% N Ord                   29,4% N Ord

9.    Re-election of Audit Committee member -            99,99% Ord         0,01% Ord          0% Ord                        70,3% Ord
      Mr B J T Shongwe                                   100% N Ord         0% N Ord           0,01% N Ord                   29,4% N Ord

10.   Non-binding endorsement of Remuneration            99,99% Ord         0,01% Ord          0% Ord                        70,3% Ord
      Policy.                                            100% N Ord         0% N Ord           0,01% N Ord                   29,4% N Ord

11.   Non-binding endorsement of Remuneration            99,99% Ord         0,01% Ord          0% Ord                        70,3% Ord
      Implementation Report.                             100% N Ord         0% N Ord           0,01% N Ord                   29,4% N Ord

12.   Placement of 1 million ordinary shares and all     99,96% Ord         0,04% Ord          0% Ord                        70,3% Ord
      unissued ‘N’ ordinary shares under the control     86,81% N Ord       13,19% N Ord       0,01% N Ord                   29,4% N Ord
      of the directors and general authority to allot
      and issue

13.   Authority to sign all documents required.          99,99% Ord         0,01% Ord          0% Ord                        70,3% Ord
                                                         100% N Ord         0% N Ord           0,01% N Ord                   29,4% N Ord

Special resolutions
1.    Approval of proposed non-executive directors’      99,96% Ord         0,04% Ord          0% Ord                        70,3% Ord
      remuneration for the year ending 31                100% N Ord         0% N Ord           0,01% N Ord                   29,4% N Ord
      December 2019.

2.    Authority to provide financial assistance to any   99,96% Ord         0,04% Ord          0% Ord                        70,3% Ord
      group company in terms of Section 45 of the        100% N Ord         0% N Ord           0,01% N Ord                   29,4% N Ord
      Companies Act.

3.    Authority to provide financial assistance to any   99,99% Ord         0,01% Ord          0% Ord                        70,3% Ord
      group company in terms of Section 44 of the        100% N Ord         0% N Ord           0,01% N Ord                   29,4% N Ord
      Companies Act.

4.    General authority to repurchase shares             99,99% Ord         0,01% Ord          0% Ord                        70,3% Ord
                                                         100% N Ord         0% N Ord           0,01% N Ord                   29,4% N Ord

5.    General authority to allot and issue               99,97% Ord         0,03% Ord          0% Ord                        70,3% Ord
      authorised but unissued securities for cash        100% N Ord         0% N Ord           0,01% N Ord                   29,4% N Ord

The special resolutions will, where necessary, be lodged for registration with the Companies and Intellectual Property Commission in due course.

Sandton
14 May 2019

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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