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Results of AGM
AfroCentric Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1988/000570/06)
JSE Code: ACT ISIN: ZAE000078416
(“AfroCentric” or “the Company” or “the Group”)
RESULTS OF ANNUAL GENERAL MEETING (“AGM”)
Results of the AGM
Shareholders are advised that at the annual general meeting held on Thursday, 7 November 2019, all resolutions
as set out in the notice of the AGM which was incorporated in the 2019 Integrated Annual Report and distributed
to shareholders on 7 October 2019, were duly approved by the requisite majority of shareholders present and
voting, either in person or represented by proxy.
Shareholders are advised that:
- the total number of shares in issue as at the date of the AGM was 574 241 248;
- the total number of shares that were present in person/represented by proxy at the AGM was 419 398 760
shares being 73% of the total number of shares in issue; and
- Abstentions are represented below as a percentage of total number of shares in issue.
Details of the results of the voting are as follows:
RESOLUTION Shares voted Shares voted Shares
for against abstained
Ordinary Resolutions
Ordinary resolution number 1:
Election of directors
1.1 Professor SA Zinn 419 334 296 1 000 63 464
100% 0.00% 0.01%
1.2 Mr JB Fernandes 419 302 796 1 000 94 964
100% 0.00% 0.02%
1.3 Mr SE Mmakau 419 228 214 75 582 94 964
99.98% 0.02% 0.02%
1.4 Mr T Alsworth-Elvey 401 340 523 17 963 273 94 964
95.72% 4.28% 0.02%
1.5 Mr G Allen 401 483 705 17 820 091 94 964
95.75% 4.25% 0.02%
Ordinary resolution number 2:
Re-election of Directors
401 469 123 17 834 673 94 964
2.1 Dr NM Munisi 95.75% 4.25% 0.02%
419 288 214 15 852 94 964
100% 0.00% 0.02%
2.2 Ms LL Dhlamini
- - -
2.3 Withdrawn
Ordinary resolution number 3:
Appointment of Group Audit and Risk Committee
3.1 Ms LL Dhlamini (Chair) 419 288 214 15 582 94 964
100.00% 0.00%
3.2 Withdrawn - - -
3.3 Mr JB Fernandes 419 302 796 1 000 94 964
100.00% 0.00% 0.02%
Ordinary resolution number 4: 409 562 859 9 740 937 94 964
Re-appointment of independent external auditor 97.68% 2.32% 0.02%
Ordinary resolution number 5: 401 331 220 18 004 076 63 464
General authority to issue shares for cash 97.56% 2.44% 0.01%
Ordinary resolution number 6: 406 277 112 13 026 684 94 964
Approval of the remuneration policy 96.89% 3.11% 0.02%
Ordinary resolution number 7: 406 277 112 13 026 684 94 964
Approval of the remuneration implementation report 96.89% 3.11% 0.02%
Ordinary resolution number 8: 419 260 524 32 500 105 736
Authorise directors and/or company secretary 99.99% 0.01% 0.02%
Special Resolutions
Shares voted Shares voted Shares
for against abstained
Special resolution number 1: 417 116 823 2 218 473 63 464
Approval of non-executive directors’ remuneration 99.47% 0.53% 0.01%
Special resolution number 2: 419 117 342 175 682 63 464
General authority to repurchase shares 99.96% 0.04% 0.01%
Special resolution number 3: 419 042 760 292 536 63 464
Financial assistance to related or Inter-related 99.93% 0.07% 0.01%
company or companies
Special resolution number 4: 419 102 760 232 536 63 464
Financial assistance for subscription of securities to 99.94% 0.06% 0.01%
related or Inter-related companies
Approval for publication of Annual Financial Statements
Shareholders are referred to page 3 of the 2019 Integrated Annual Report (“the Report”) and advised that the
date of approval of release of the Report was incorrectly stated as 12 September 2019. The correct date of
approval of release of the Report was 13 September 2019.
Johannesburg
8 November 2019
Sponsor
Sasfin Capital (a member of the Sasfin group)
Date: 08/11/2019 08:26:00
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