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PICK N PAY STORES LIMITED - Report on proceedings at The Annual General Meeting

Release Date: 04/08/2020 16:45
Code(s): PIK     PDF:  
Wrap Text
Report on proceedings at The Annual General Meeting

Pick n Pay Stores Limited
Incorporated in the Republic of South Africa
Registration number: 1968/008034/06
Share Code: PIK
ISIN code: ZAE000005443
(Pick n Pay)


REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING

Shareholders are advised that the Annual General Meeting (AGM) of Pick n Pay was held on 4 August 2020 and all the ordinary and
special resolutions proposed at the AGM were approved by the requisite majority. The following information is provided:

Total issued number of ordinary shares:                                         493 450 321
Treasury shares not voted:                                                       11 308 318
Number of ordinary shares that could have been voted at the meeting:            482 142 003
Number of B ordinary shares that could have been voted at the meeting:          259 682 869
Total number of shares that could have been exercised at the meeting:           741 824 872

Total number of share present/represented including proxies at the meeting:
Number of ordinary shares represented at the meeting:                           404 518 245
Number of B shares represented at the meeting:                                  259 682 869

Percentage of ordinary shares represented at the meeting:                            81.98%
Percentage of B shares represented at the meeting:                                  100.00%

Abbreviations:        ordinary shares (Ord)
                      B ordinary shares (B Ord)

Details of the results of voting at the AGM are as follows:

 Resolutions                 Shares voted             Votes disclosed as a    Number of shares      Shares voted            Shares
                           disclosed as a        percentage in relation to               voted      disclosed as         abstained
                        percentage of the         the Ord and B Ord shares                          a percentage    disclosed as a
                          total number of             voted at the meeting                        in relation to     percentage in
                        shares (Ord and B                                                              the total   relation to the
                        Ord) voted at the                                                           issued share      total issued
                                  meeting                                                                capital     share capital
                                                                                                      (see above
                                                                                                  for details of
                                                                                                           share
                                                                                                        capital)
                        FOR    AGAINST            FOR     AGAINST
Ordinary resolution   99.97%     0.03%       99.95% Ord    0.05% Ord           404 360 205 Ord      81.95% Ord       0.03% Ord
number 1:
Appointment of                               100% B Ord     0% B Ord         259 682 869 B Ord      100% B Ord        0% B Ord
external auditors
Ordinary resolution   91.13%     8.87%       85.43% Ord   14.57% Ord           404 313 055 Ord      81.94% Ord       0.04% Ord
number 2.1:
Director retirement                          100% B Ord     0% B Ord         259 682 869 B Ord      100% B Ord        0% B Ord
and re-election –
Hugh Herman
Ordinary resolution   93.14%     6.86%       88.73% Ord   11.27% Ord           404 358 434 Ord      81.95% Ord       0.03% Ord
number 2.2:
Director retirement                          100% B Ord     0% B Ord         259 682 869 B Ord      100% B Ord        0% B Ord
and re-election –
Jeff van Rooyen
Ordinary resolution   93.48%     6.52%       89.29% Ord   10.71% Ord           404 359 706 Ord      81.95% Ord       0.03% Ord
number 2.3:
Director retirement                          100% B Ord     0% B Ord         259 682 869 B Ord      100% B Ord        0% B Ord
and re-election –
Gareth Ackerman
Ordinary resolution   99.20%     0.80%       98.69% Ord    1.31% Ord           404 359 005 Ord      81.95% Ord       0.03% Ord
number 2.4:
Director election –                          100% B Ord     0% B Ord         259 682 869 B Ord      100% B Ord        0% B Ord
Lerena Olivier
Ordinary resolution   89.76%    10.24%       83.19% Ord   16.81% Ord           404 358 993 Ord      81.95% Ord       0.03% Ord
number 2.5:
Director election –                          100% B Ord     0% B Ord         259 682 869 B Ord      100% B Ord        0% B Ord
Aboubakar Jakoet
Ordinary resolution   97.65%     2.35%       96.15% Ord    3.85% Ord           404 358 422 Ord      81.95% Ord       0.03% Ord
number 2.6:
Director election –                          100% B Ord     0% B Ord         259 682 869 B Ord      100% B Ord        0% B Ord
Mariam Cassim
Ordinary resolution   99.98%   0.02%         99.97% Ord    0.03% Ord           404 354 006 Ord      81.94% Ord       0.03% Ord
number 2.7:
Director election –                          100% B Ord     0% B Ord         259 682 869 B Ord      100% B Ord        0% B Ord
Haroon Bhorat
Ordinary resolution    100%       0%           100% Ord       0% Ord           404 359 005 Ord      81.95% Ord       0.03% Ord
number 2.8:
Director election –                          100% B Ord     0% B Ord         259 682 869 B Ord      100% B Ord          0% Ord
Annamarie van der
Merwe
Ordinary resolution   85.55%   14.45%        76.28% Ord   23.72% Ord           404 357 198 Ord      81.94% Ord       0.03% Ord
number 3.1:
Re-appointment of                            100% B Ord     0% B Ord         259 682 869 B Ord      100% B Ord        0% B Ord
Jeff van Rooyen to
the audit, risk and
compliance
committee
Ordinary resolution   85.06%   14.94%        75.46% Ord   24.54% Ord           404 310 677 Ord      81.94% Ord      0.04% Ord
number 3.2: Re-
appointment of                               100% B Ord     0% B Ord         259 682 869 B Ord      100% B Ord       0% B Ord
Hugh Herman to
the audit, risk and
compliance
committee
Ordinary resolution   99.43%   0.57%         99.06% Ord    0.94% Ord           404 352 198 Ord     81.94% Ord       0.03% Ord
number 3.3:
Re-appointment of                            100% B Ord     0% B Ord         259 682 869 B Ord     100% B Ord        0% B Ord
Audrey Mothupi to
the audit, risk and
compliance
committee
Ordinary resolution   99.62%   0.38%         99.38% Ord    0.62% Ord           404 357 198 Ord    81.94% Ord       0.03% Ord
number 3.4:
Appointment of                               100% B Ord     0% B Ord         259 682 869 B Ord    100% B Ord        0% B Ord
David Friedland to
the audit, risk and
compliance
committee
Ordinary resolution    98.11%   1.89%        96.90% Ord    3.10% Ord           404 357 186 Ord    81.94% Ord       0.03% Ord
number 3.5:
Appointment of                               100% B Ord     0% B Ord         259 682 869 B Ord    100% B Ord        0% B Ord
Mariam Cassim to
the audit, risk and
compliance
committee
Advisory vote          83.21%   16.79%       72.36% Ord   27.64% Ord           401 739 228 Ord    81.41% Ord      0.56% Ord
number 1:
Endorsement of the                           100% B Ord     0% B Ord         259 682 869 B Ord    100% B Ord       0% B Ord
remuneration policy
for the 2019 annual
financial period
Advisory vote          76.77%   23.23%       61.85% Ord   38.15% Ord           404 361 986 Ord    81.95% Ord      0.03% Ord
number 2:
Endorsement of the                           100% B Ord     0% B Ord         259 682 869 B Ord    100% B Ord       0% B Ord
remuneration
implementation
report for the 2019
annual financial
period
Special resolution     78.38%   21.62%       64.49% Ord   35.51% Ord           404 344 901 Ord    81.94% Ord     0.04% Ord
number 1:
Directors’ fees for                          100% B Ord     0% B Ord         259 682 869 B Ord    100% B Ord      0% B Ord
the 2020 and 2021
annual financial
periods
Special resolution     98.76%   1.24%        97.97% Ord    2.03% Ord           404 357 334 Ord    81.94% Ord     0.03% Ord
number 2.1:
Financial assistance                         100% B Ord     0% B Ord         259 682 869 B Ord    100% B Ord      0% B Ord
to related or inter-
related companies
Special resolution     94.23%   5.77%        90.52% Ord    9.48% Ord           404 362 512 Ord    81.95% Ord     0.03% Ord
number 2.2:
Financial assistance                         100% B Ord     0% B Ord         259 682 869 B Ord    100% B Ord      0% B Ord
to persons
Special resolution     99.75%   0.25%        99.58% Ord    0.42% Ord           404 358 205 Ord    81.95% Ord     0.03% Ord
number 3:
Amendment of                                 100% B Ord     0% B Ord         259 682 869 B Ord    100% B Ord      0% B Ord
Forfeitable Share
Plan
Special resolution     98.85%   1.15%        98.11% Ord    1.89% Ord           404 342 655 Ord    81.94% Ord     0.04% Ord
number 4:
General approval to                          100% B Ord     0% B Ord         259 682 869 B Ord    100% B Ord      0% B Ord
repurchase
Company shares
Ordinary resolution     100%    0.00%          100% Ord       0% Ord           404 362 834 Ord    81.95% Ord     0.03% Ord
number 4:
Directors’ authority                         100% B Ord     0% B Ord         259 682 869 B Ord    100% B Ord      0% B Ord
to implement
special and ordinary
resolutions


By order of the Board
Cape Town
4 August 2020

Sponsor:
Investec Bank Limited

Date: 04-08-2020 04:45:00
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