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SAPPI LIMITED - Results of the eighty-third Annual General Meeting of Sappi

Release Date: 06/02/2020 10:56
Code(s): SAP     PDF:  
 
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Results of the eighty-third Annual General Meeting of Sappi

Sappi Limited
(Incorporated in the Republic of South Africa)
Registration number: 1936/008963/06
JSE share code: SAP
ISIN code: ZAE000006284
("Sappi" or the "Company")

RESULTS OF THE EIGHTY-THIRD ANNUAL GENERAL MEETING OF SAPPI

Shareholders are advised that at the Annual General Meeting of shareholders of the
Company held on Wednesday, 05 February 2020 at 14:00 all the resolutions tabled thereat
were passed by the requisite majority of shareholders.

Details of the results of voting at the Annual General Meeting are as follows :

-    total number of Sappi ordinary shares in issue as at the date of the Annual General
     Meeting : 548 053 463

-    total number of Sappi shares that could have been voted at the Annual General Meeting
     (excluding the treasury shares) : 546 101 392

-    total number of Sappi shares that were present/represented at the Annual General
     Meeting : 490 790 628 being 89.9% of the total number of Sappi shares that could have
     been voted at the Annual General Meeting.


1.   Ordinary resolution number 1 – Receipt and acceptance of 2019 Group
     Annual Financial Statements, including directors’ report, auditors’ report
     and Audit and Risk Committee report

             For                Against              Abstain           Shares voted
         489 293 120            25 500              1 472 008           489 318 620
           99.99%                0.01%                0.27%               90.20%       1
                                                      0.27%               89.28%       2



2.   Ordinary resolution number 2.1 – Approval and                    confirmation    of
     appointment of Mr BR Beamish as a director of Sappi

             For                Against              Abstain           Shares voted
         490 572 242            188 955              29 431             490 761 197
           99.96%                0.04%                0.01%               90.46%       1
                                                      0.01%               89.55%       2
3.   Ordinary resolution number 2.2 – Approval            and   confirmation   of
     appointment of Mr JM Lopez as a director of Sappi

            For             Against           Abstain           Shares voted
        490 581 607         179 590           29 431             490 761 197
          99.96%             0.04%             0.01%               90.46%       1
                                               0.01%               89.55%       2



4.   Ordinary resolution number 2.3 – Approval            and   confirmation   of
     appointment of Ms JE Stipp as a director of Sappi

            For             Against           Abstain           Shares voted
        490 607 985         153 212           29 431             490 761 197
          99.97%             0.03%             0.01%               90.46%       1
                                               0.01%               89.55%       2



5.   Ordinary resolution number 3.1 – Re-election of Mr MA Fallon as a director
     of Sappi

            For             Against           Abstain           Shares voted
        484 336 441        6 424 756          29 431             490 761 197
          98.69%             1.31%             0.01%               90.46%       1
                                               0.01%               89.55%       2




6.   Ordinary resolution number 3.2 – Re-election of Mr NP Mageza as a director
     of Sappi

            For             Against           Abstain           Shares voted
        356 482 907       134 277 847         29 874             490 760 754
          72.64%            27.36%             0.01%               90.46%       1
                                               0.01%               89.55%       2



7.   Ordinary resolution number 3.3 – Re-election of Dr B Mehlomakulu as a
     director of Sappi

            For             Against            Abstain          Shares voted
        394 590 749        92 300 309         3 899 570          486 891 058
          81.04%            18.96%              0.72%              89.75%       1
                                                0.71%              88.84%       2



8.   Ordinary resolution number 3.4 – Re-election of Mr GT Pearce as a director
     of Sappi
            For            Against           Abstain         Shares voted
        490 676 282        82 415            31 931           490 758 697
          99.98%            0.02%             0.01%             90.46%      1
                                              0.01%             89.55%      2



9.   Ordinary resolution number 4.1 – Election of Mr NP Mageza as member and
     chairman of the Audit and Risk Committee

            For            Against           Abstain         Shares voted
        360 287 676      130 047 185         455 767          490 334 861
          73.48%           26.52%             0.08%             90.38%      1
                                              0.08%             89.47%      2



10. Ordinary resolution number 4.2 – Election of Mrs ZN Malinga on as a
    member of the Audit and Risk Committee

            For            Against           Abstain         Shares voted
        490 732 212        28 542            29 874           490 760 754
          99.99%            0.01%             0.01%             90.46%      1
                                              0.01%             89.55%      2



11. Ordinary resolution number 4.3 – Election of Dr B Mehlomakulu as a
    member of the Audit and Risk Committee

            For            Against           Abstain         Shares voted
        389 103 327       97 786 231        3 901 070         486 889 558
          79.92%           20.08%             0.72%             89.75%      1
                                              0.71%             88.84%      2


12. Ordinary resolution number 4.4 – Election of Mr RJAM Renders as a
    member of the Audit and Risk Committee

            For            Against           Abstain         Shares voted
        485 265 030       5 494 224          31 374           490 759 254
          98.88%            1.12%             0.01%             90.46%      1
                                              0.01%             89.55%      2



13. Ordinary resolution number 4.5 – Election of Ms JE Stipp as a member of
    the Audit and Risk Committee

            For            Against           Abstain         Shares voted
        490 607 542        152 577           30 509           490 760 119
          99.97%            0.03%             0.01%             90.46%      1
                                              0.01%             89.55%      2



14. Ordinary resolution number 5 – Re-appointment of KPMG Inc. as auditors of
    Sappi for the year ending September 2020 and until the next Annual
    General Meeting of Sappi

            For             Against            Abstain         Shares voted
        474 075 119        16 687 859          27 650           490 762 978
          96.60%             3.40%              0.01%             90.46%      1
                                                0.01%             89.55%      2



15. Ordinary resolution number 6 – Authority from shareholders for the
    maximum number of ordinary shares which may be utilised under the plan

            For             Against            Abstain         Shares voted
        489 202 532        1 551 853           36 243           490 754 385
          99.68%             0.32%              0.01%             90.46%      1
                                                0.01%             89.54%      2



16. Ordinary resolution number 7 – Authority from shareholders to place the
    ordinary shares required for the purposes of the plan under the control of
    the directors

            For             Against            Abstain         Shares voted
        489 194 967        1 559 439           36 222           490 754 406
          99.68%             0.32%              0.01%             90.46%      1
                                                0.01%             89.54%      2




17. Ordinary resolution number 8 – Non-binding endorsement of Remuneration
    policy

            For             Against            Abstain         Shares voted
        395 256 018        94 421 592         1 113 018         489 677 610
          80.72%            19.28%              0.21%             90.26%      1
                                                0.20%             89.35%      2


18. Ordinary resolution number 9 – Non-binding endorsement of Remuneration
    Implementation report

            For             Against            Abstain         Shares voted
        409 064 090        80 619 520         1 107 018         489 683 610
          83.54%            16.46%              0.20%             90.26%      1
                                                0.20%             89.35%      2



19. Special resolution number 1 – Increase in non-executive directors’ fees

            For             Against            Abstain         Shares voted
        481 269 422        9 208 653           312 553          490 478 075
          98.12%             1.88%              0.06%             90.41%      1
                                                0.06%             89.49%      2
20. Special resolution number 2 – Authority for loans or other financial
    assistance to related or inter-related companies or corporations

             For                  Against                    Abstain   Shares voted
         486 000 635             4 762 883                   27 110     490 763 518
           99.03%                  0.97%                      0.00%       90.46%      1
                                                              0.00%       89.55%      2



21. Ordinary resolution number 10 – Authority for directors to sign all
    documents and do all such things necessary to implement the above
    resolutions

             For                  Against                    Abstain   Shares voted
         490 715 399              36 002                     39 227     490 751 401
           99.99%                  0.01%                      0.01%       90.46%      1
                                                              0.01%       89.54%      2



1    Disclosed as a percentage of the voteable shares
2    Disclosed as a percentage of the total issued capital




Johannesburg
6 February 2020
Sponsor : UBS South Africa (Pty) Ltd

Date: 06-02-2020 10:56:00
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