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SABVEST LIMITED - Report on proceedings at the annual general meeting

Release Date: 04/05/2020 14:31
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

Shareholders are referred to the announcement released on the Stock Exchange News Service on 20 April 2020 and are advised that, at the
annual general meeting (“AGM” or “the meeting”) of the shareholders of Sabvest held today, 4 May 2020, 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:

Shareholders are advised that ordinary resolution 10 and special resolutions 4 and 5 were withdrawn due to the Sabvest Limited delisting taking
place in May 2020.

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        Total number of               Percentage of
                                   share capital      shares present or                shares voted
                                                   represented by proxy
Ordinary shares *                  8,487,646,500          5,975,544,000                      70.40%
‘N’ ordinary shares *                 24,276,919              9,098,506                      37.48%

* Each ordinary share has 500 votes and each ‘N’ ordinary share has one vote.

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

Total number of votes             8,511,923,419            5,984,642,506                      70.31%

Total number of members present:  8
Total number of abstentions:

                                                                                                                 Shares voted disclosed as a
                                                                                         Shares abstained        percentage in relation to the
                                                       Votes carried disclosed as a      disclosed as a          total issued share capital
                                                       percentage in relation to the     percentage in
                                                       total number of shares voted at   relation to the total   Ordinary shares (“Ord”)
 Resolutions                                           the meeting                       issued share capital    N Ordinary shares (“N Ord”)
                                                       
                                                       For               Against
 Ordinary resolutions                                  

 1.   Re-election of Mrs DNM Mokhobo as director       100.00% Ord       0.00% Ord       0.02% Ord               70.38% Ord
                                                       100.00% N Ord     0.00% N Ord     0.71% N Ord             36.77% N Ord

 2.   Re-election of Mr K Pillay as director           99.95% Ord        0.05% Ord       0.02% Ord               70.38% Ord
                                                       100.00% N Ord     0.00% N Ord     0.71% N Ord             36.77% N Ord

 3.   Re-election of Mr R Pleaner as director          100.00% Ord       0.00% Ord       0.02% Ord               70.38% Ord
                                                       100.00% N Ord     0.00% N Ord     0.71% N Ord             36.77% N Ord

 4.   Re-appointment of Deloitte & Touche as           100.00% Ord       0.00% Ord       0.02% Ord               70.38% Ord
      independent external auditors                    100.00% N Ord     0.00% N Ord     0.71% N Ord             36.77% N Ord

 5.   Re-election of Audit Committee member -          99.95% Ord        0.05% Ord       0.02% Ord               70.38% Ord
      Ms L Mthimunye                                   100.00% N Ord     0.00% N Ord     0.71% N Ord             36.77% N Ord

 6.   Re-election of Audit Committee member -          100.00% Ord       0.00% Ord       0.02% Ord               70.38% Ord
      Mrs D N M Mokhobo                                100.00% N Ord     0.00% N Ord     0.71% N Ord             36.77% N Ord

 7.   Re-election of Audit Committee member -          100.00% Ord       0.00% Ord       0.02% Ord               70.38% Ord
      Mr B J T Shongwe                                 100.00% N Ord     0.00% N Ord     0.71% N Ord             36.77% N Ord
 
 8.   Non-binding endorsement of Remuneration Policy.  100.00% Ord       0.00% Ord       0.02% Ord               70.38% Ord
                                                       99.98% N Ord      0.02% N Ord     0.71% N Ord             36.77% N Ord

 9.   Non-binding endorsement of Remuneration          100.00% Ord       0.00% Ord       0.02% Ord               70.38% Ord
      Implementation Report.                           99.98% N Ord      0.02% N Ord     0.71% N Ord             36.77% N Ord

 10.  Placement of 1 million unissued ordinary shares 
      and all unissued ‘N’ ordinary shares under the   WITHDRAWN
      control of the directors and general 
      authority to allot and issue

 11.  Authority to sign all documents required.        100.00% Ord       0.00% Ord       0.02% Ord               70.38% Ord
                                                       100.00% N Ord     0.00% N Ord     0.71% N Ord             36.77% N Ord

Special resolutions

 1.   Approval of proposed non-executive directors’    100.00% Ord       0.00% Ord       0.03% Ord               70.38% Ord
      remuneration for the year ending 31 December     99.98% N Ord      0.02% N Ord     0.71% N Ord             36.77% N Ord
      2020.

 2.   Authority to provide financial assistance to     100.00% Ord       0.00% Ord       0.03% Ord               70.38% Ord
      any group company in terms of Section 45 of the  99.98% N Ord      0.02% N Ord     0.71% N Ord             36.77% N Ord
      Companies Act.
 
 3.   Authority to provide financial assistance        100.00% Ord       0.00% Ord       0.03% Ord               70.38% Ord
      to any group company in terms of Section 44      99.98% N Ord      0.02% N Ord     0.71% N Ord             36.77% N Ord
      of the Companies Act. 

 4.   General authority to repurchase shares           WITHDRAWN

 5.   General authority to allot and issue 
      authorised but unissued securities for cash      WITHDRAWN
      
The special resolutions will, where necessary, be lodged for registration with the Companies and Intellectual Property Commission in due course.

Sandton
4 May 2020

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

Date: 04-05-2020 02:31:00
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