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AYO TECHNOLOGY SOLUTIONS LIMITED - Results of the Annual General Meeting

Release Date: 14/04/2020 17:30
Code(s): AYO     PDF:  
 
Wrap Text
Results of the Annual General Meeting

    AYO TECHNOLOGY SOLUTIONS LIMITED
    (Incorporated in the Republic of South Africa)
    Registration number: 1996/014461/06
    JSE share code: AYO
    ISIN: ZAE000252441
    (“AYO” or “the Company”)


                            RESULTS OF THE ANNUAL GENERAL MEETING


Shareholders are hereby advised that the results of the voting at the annual general meeting (“AGM”)
of the Company held at 08:30 today, Tuesday, 14 April 2020, on the Microsoft Teams Platform, are set
out below.

Shareholders are further advised that
-     there were 344 123 944 shares in issue as at the date of the AGM; and
-     the total number of shares that were present represented by proxy at the AGM was 295 802 415
      shares being 85.96% of the total number of shares in issue.

All the resolutions, as set out in the Integrated Annual Report posted to shareholders on
31 January 2020, were duly approved by the requisite majority of shareholders present and voting other
than the following:
•      Ordinary resolution number 12 relating to the general authority to issue ordinary shares for cash;
•      Special resolution number 2 relating to inter-company financial assistance; and
•      Special resolution number 3 relating to financial assistance for the subscription and/or purchase of
       shares in the Company or a related or inter-related company.

                                                  Votes
                              Votes for          against
                             resolution       resolution
                                    as a             as a                     Number of       Number of
                            percentage       percentage                           shares          shares
                                of total         of total                        voted at      abstained
                             number of        number of       Number of        AGM as a              as a
    Resolutions                 shares           shares          shares      percentage      percentage
    proposed at the            voted at         voted at        voted at     of shares in    of shares in
    AGM                           AGM              AGM             AGM             issue           issue

    Ordinary resolution
    number 1:
    To confirm the
    appointment of the
    following Director:
    Mr H Plaatjes                  99.99             0.01          295 802 415      85.96            0

    Ordinary resolution
    number 2:
    To confirm the
    appointment of the
    following Director:
    Mr IT Bundo                    99.99             0.01          295 802 415       85.96            0
Ordinary resolution
number 3:
To confirm the
appointment of the
following Director:
Ms V Govender                       99.99            0.01          295 802 415       85.96            0

Ordinary resolution
number 4:
To confirm the
appointment of the
following Director:
Mr I Amod                           66.26            33.74         295 802 415        85.96           0
Ordinary resolution
number 5:
To re-elect the
following Director
who retires by
rotation: Adv. NA
Ramathlodi                          66.26           33.74         295 802 415         85.96           0
Ordinary resolution
number 6:
To re-elect the
following Director
who retires by
rotation: Ms RP
Mosia                               66.26           33.74         295 802 415         85.96           0
Ordinary resolution
number 7:
To appoint Ms RP
Mosia as a member
of the audit and risk
committee                           66.26          33.74   295 802 415               85.96            0
Ordinary resolution
number 8:
To appoint Dr DH
George as a
member of the
audit and risk
committee                          99.99           0.01   295 802 415               85.96             0
Ordinary resolution
number 9:
To appoint Mr SM
Rasethaba as a
member of the
audit and risk
committee                         99.99            0.01   295 802 415               85.96             0

Ordinary resolution
number 10:
To appoint Ms AB
Amod as a member                  66.26           33.74   295 802 415               85.96             0
of the audit and risk
committee
Ordinary resolution
number 11:
Control of
authorised but
unissued ordinary
shares                           66.26           33.74   295 802 415                85.96              0
Ordinary resolution
number 12:
Approval to issue
ordinary shares
and/or options for
cash                            66.26            33.74   295 802 415                85.96               0
Ordinary resolution
number 13:
Non-binding
advisory vote on
the Remuneration
policy of the
Company                         66.26            33.74   295 802 415                85.96               0

Ordinary resolution
number 14: Non-
binding advisory
vote on the
implementation of
the remuneration
policy of the
Company                        66.26            33.74   295 802 415                 85.96               0


Special resolution
number 1:
To approve the
remuneration of the
non-executive
Directors                     99.99             0.01   295 802 415                 85.96                0

Special resolution
number 2:
To approve inter-
company financial
assistance                    66.26            33.74   295 802 415                 85.96                0

Special resolution
number 3:
To approve
financial assistance
for the subscription
or purchase of
shares in the
Company or in a
related or inter-
related company              66.26            33.74   295 802 415                 85.96                 0
 Special resolution
 number 4:
 Approval for the
 Company or its
 subsidiaries to
 repurchase shares
 of the Company             99.99           0.01    295 802 415                   85.96                  0


Shareholders are further advised that due to Ordinary resolution numbers 13 and 14 relating to the
approval of the Company’s remuneration policy and its implementation, respectively, being voted
against by more than 25% of AYO shareholders, an invitation is hereby extended to such dissenting
shareholders to engage with the Company.

Those wishing to do so should, in the first instance, contact the group secretary at
wazeer.moosa@ayotsl.com.

Cape Town
14 April 2020


Joint Sponsor
Vunani Sponsors

Joint Sponsor
Merchantec Capital

Date: 14-04-2020 05:30:00
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