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ITALTILE LIMITED - Distribution of Circular in respect of the Italtile Retention Scheme and Notice of General Meeting

Release Date: 22/05/2020 17:01
Code(s): ITE     PDF:  
 
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Distribution of Circular in respect of the Italtile Retention Scheme and Notice of General Meeting

ITALTILE LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1955/000558/06)
Share code: ITE ISIN: ZAE000099123
(“Italtile” or “the Company”)

DISTRIBUTION OF CIRCULAR IN RESPECT OF THE ITALTILE RETENTION SCHEME AND
NOTICE OF GENERAL MEETING


1.   ITALTILE RETENTION SCHEME

     In line with Italtile and its subsidiaries' ("Group") remuneration philosophy of partnership and in
     accordance with the Group's recognition of the importance of efficient and transparent succession
     planning within the Group, Italtile wishes to establish the Italtile Retention Scheme in order to retain
     and incentivise selected high performing employees, identified by Italtile’s Remuneration Committee
     from time to time, with a proven track record for their contribution to the growth and sustainability of
     the Group.

2.   DISTRIBUTION OF CIRCULAR

     Italtile shareholders are hereby advised that the circular containing full details of the Italtile Retention
     Scheme and incorporating a notice to convene a general meeting of Italtile shareholders (“General
     Meeting”) in order to consider and, if deemed fit, to pass, with or without modification, the resolutions
     necessary to approve the Italtile Retention Scheme, has been distributed today, 22 May 2020.
     The circular is available on the Company’s website at: www.italtile.com.

3.   NOTICE OF GENERAL MEETING

     As a consequence of the nationwide lockdown imposed in response to the global COVID-19
     pandemic and the guidance from authorities regarding the need for social distancing, notice is hereby
     given that the General Meeting will be conducted entirely by electronic communication and will be
     held at 10:00 on Wednesday, 24 June 2020 in order to consider and, if deemed fit, to pass, with or
     without modification, the resolutions stated in the notice of General Meeting, which is contained in
     the circular.

     The board of directors of the Company has determined that, in terms of section 62(3)(a), as read
     with section 59 of the Companies Act No 71 of 2008, as amended, the record date for the purposes
     of determining which shareholders of the Company are entitled to receive notice of the General
     Meeting is Friday, 15 May 2020 and only shareholders who are registered in the securities register
     of the Company ("Register") on Friday, 19 June 2020, will be entitled to participate in and vote at
     the General Meeting. Accordingly, the last day to trade in Italtile shares in order to be recorded in
     the Register in order to be entitled to attend, participate in and vote at the General Meeting is
     Monday, 15 June 2020.

     Shareholders of the Company are referred to the shareholders’ virtual meeting guide set out in
     Annexure 1 to the Notice of General Meeting included in the circular for instructions on how to
     participate online and vote electronically at the General Meeting.


Johannesburg
22 May 2020

Sponsor
Merchantec Capital

Legal Advisors
Werksmans Inc.

Corporate and Legal Advisors
Rabin & Associates Proprietary Limited

Date: 22-05-2020 05:01:00
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