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MPACT LIMITED - Report on proceedings at the annual general meeting

Release Date: 04/06/2020 16:54
Code(s): MPT     PDF:  
 
Wrap Text
Report on proceedings at the annual general meeting

Mpact Limited
(Incorporated in the Republic of South Africa)
(Registration number 2004/025229/06)
JSE share code: MPT ISIN: ZAE000156501
(“Mpact” or “the Company”)

REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING

At the annual general meeting ("AGM") of the shareholders of Mpact
held on Thursday, 04 June 2020, all ordinary and special
resolutions proposed at the AGM were approved by the requisite
majority of votes save for non-binding advisory votes number 1 and
2.

Mpact confirms the voting statistics from the AGM as follows:

Resolutions                 Votes cast          Number of     Shares       Shares
                            disclosed as a      shares        voted        abstained
                            percentage in       voted         disclosed    disclosed
                            relation to the                   as a         as a
                            total number of                   percentage   percentage
                            shares voted at                   in           in
                            the AGM                           relation     relation
                                                              to the       to the
                                                              total        total
                                                              issued       issued
                            For       Against                 shares*      shares*
Ordinary resolution 1.1:
Re-election of AM
Thompson                    75.47%    24.53%    152,462,732   87.97%       0.11%
Ordinary resolution 1.2:
Re-election of M Makanjee   84.64%    15.36%    152,462,732   87.97%       0.11%
Ordinary resolution 2.1:
Election of TDA Ross as
Audit and Risk Committee
member                      92.52%    7.48%     152,462,681   87.97%       0.11%
Ordinary resolution 2.2:
Election of NP Dongwana
as Audit and Risk
Committee member            92.52%    7.48%     152,462,732   87.97%       0.11%
Ordinary resolution 2.3:
Election of AM Thompson
as Audit and Risk
Committee member            66.18%    33.82%    152,462,732   87.97%       0.11%
Ordinary resolution 2.4:
Election of PCS Luthuli
as Audit and Risk
Committee member            100.00%   0.00%     152,462,732   87.97%       0.11%
Ordinary resolution 3:
Re-appointment of
Deloitte & Touche as
auditors                    81.18%    18.82%    152,464,382   87.97%       0.11%
Ordinary resolution 4:
Authority to implement
resolutions                 100.00%   0.00%     152,464,331   87.97%       0.11%
Non-binding advisory vote
1: Advisory vote on the
remuneration policy         72.41%   27.59%     152,455,681   87.97%       0.11%
Non-binding advisory vote
2: Advisory vote on the
remuneration
implementation report       44.11%   55.89%     152,454,031   87.97%       0.11%
Special resolution 1:
General authority to
repurchase shares           99.99%   0.01%      152,461,732   87.97%       0.11%
Special resolution 2:
General authority to
provide financial
assistance                  99.83%   0.17%      152,464,382   87.97%       0.11%
Special resolution 3:
Non-executive directors’
remuneration                84.20%   15.80%     152,464,382   87.97%       0.11%

*Total issued shares: 173 304 517

Notes:

Shareholders are advised that the non-binding advisory votes
number 1 and 2 (the remuneration policy and the remuneration
implementation report, respectively) were voted against by more
than 25% of Mpact's shareholders present in person or represented
by proxy at the AGM ("dissenting shareholders"). The Board invites
those dissenting shareholders to engage with the Company in the
following manner:

1.   All dissenting shareholders are invited to forward their
     concerns/questions   on  the  remuneration   policy  and   the
     remuneration implementation report to the Group Company
     Secretary in writing to cosec@mpact.co.za by close of business
     on Monday,15 June 2020.

2.   Following   the   responses   received from   the  dissenting
     shareholders in accordance with the above, appropriate
     engagements will be scheduled at a suitable date and time and
     communicated to shareholders.

Melrose Arch
04 June 2020

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

Date: 04-06-2020 04:54:00
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