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Results of Annual General Meeting
Primeserv Group Limited
Incorporated in the Republic of South Africa
(Registration number 1997/013448/06)
Share code: PMV
ISIN: ZAE000039277
(“Primeserv” or “the company”)
RESULTS OF ANNUAL GENERAL MEETING
Shareholders are advised that, at the annual general meeting of the
company held on Friday, 26 November 2021, nine of the ten proposed
ordinary resolutions and all the special resolutions were passed by
the requisite majority of shareholders present and voting, in person
or by proxy. Ordinary resolution 4 and Non-binding Resolutions 1
and 2 were not passed by the requisite majority of shareholders.
Details of the results of voting at the annual general meeting are
as follows:
- total number of issued ordinary shares: 122 967 031
- Total number of issued ordinary shares net of treasury shares
(“Total Votable Ordinary Shares”): 85 042 948
- total number of issued ordinary shares which were
present/represented at the annual general meeting: 53 689 597
being 63.13% of the Total Votable Ordinary Shares.
Ordinary Resolutions
Ordinary resolution 1.1: Reappointment of Mazars as independent
auditors
For (1) Against (1) Abstentions (2) Shares voted
(3)
53 689 597 0 being 0% 0 being 0% 53 689 597
being 100% being 63.13%
Ordinary resolution 1.2: Appointment of S Ranchhoojee as designated
audit partner
For (1) Against (1) Abstentions (2) Shares voted
(3)
53 689 597 0 being 0% 0 being 0% 53 689 597
being 100% being 63.13%
Ordinary resolution 1.3: Board to confirm auditors’ remuneration
For (1) Against (1) Abstentions (2) Shares voted
(3)
53 679 597 10 000 being 0 being 0% 53 689 597
being 99.98% 0.02% being 63.13%
Ordinary resolution 2.1: Re-election of non-executive director –
LM Maisela
For (1) Against (1) Abstentions (2) Shares voted
(3)
53 679 597 10 000 being 0 being 0% 53 689 597
being 99.98% 0.02% being 63.13%
Ordinary resolution 2.2: Re-election of non-executive director –
DL Rose
For (1) Against (1) Abstentions (2) Shares voted
(3)
53 689 597 0 being 0% 0 being 0% 53 689 597
being 100% being 63.13%
Ordinary resolution 3.1: Re-election of the members of the Audit,
Governance and Risk Committee: B Kali
For (1) Against (1) Abstentions (2) Shares voted
(3)
53 689 597 0 being 0% 0 being 0% 53 689 597
being 100% being 63.13%
Ordinary resolution 3.2: Re-election of the members of the Audit,
Governance and Risk Committee: LM Maisela
For (1) Against (1) Abstentions (2) Shares voted
(3)
53 679 597 10 000 being 0 being 0% 53 689 597
being 99.98% 0.02% being 63.13%
Ordinary resolution 3.3: Re-election of the members of the Audit,
Governance and Risk Committee: DL Rose
For (1) Against (1) Abstentions (2) Shares voted
(3)
53 689 597 0 being 0% 0 being 0% 53 689 597
being 100% being 63.13%
Ordinary resolution 4: General authority to directors to issue
shares for cash
For (1) Against (1) Abstentions (2) Shares voted
(3)
29 276 593 24 003 004 410 000 being 53 279 597
being 54.95% being 45.05% 0.48% being 62.65%
*Required a 75% majority vote
Ordinary resolution 5: Authorisation to implement the resolutions
For (1) Against (1) Abstentions (2) Shares voted
(3)
53 679 597 0 being 0% 10 000 being 53 679 597
being 100% 0.01% being 63.12%
Non-binding advisory resolutions
Non-binding advisory resolution 1: Advisory endorsement of
Remuneration Policy
For (1) Against (1) Abstentions (2) Shares voted
(3)
29 735 593 23 954 004 0 being 0% 53 689 597
being 55.38% being 44.62% being 63.13%
Non-binding advisory resolution 2: Advisory endorsement of
Implementation Report
For (1) Against (1) Abstentions (2) Shares voted
(3)
29 735 593 23 954 004 0 being 0% 53 689 597
being 55.38% being 44.62% being 63.13%
Special resolutions
Special resolution 1: Remuneration of non-executive directors
For (1) Against (1) Abstentions (2) Shares voted
(3)
53 679 597 10 000 being 0 being 0% 53 689 597
being 99.98% 0.02% being 63.13%
Special resolution 2: Financial assistance to subsidiaries
For (1) Against (1) Abstentions (2) Shares voted
(3)
53 679 597 10 000 being 0 being 0% 53 689 597
being 99.98% 0.02% being 63.13%
Special resolution 3: General authority to repurchase shares
For (1) Against (1) Abstentions (2) Shares voted
(3)
53 298 597 0 being 0% 400 000 being 53 298 597
being 100% 0.47% being 62.66%
Notes:
(1) The votes carried for and against each individual resolution
are disclosed as a percentage in relation to the total number of
ordinary shares voted (whether in person or by proxy) in respect
of such individual resolution at the annual general meeting.
(2)The total number of ordinary shares abstained in respect of
each individual resolution (whether in person or by proxy) is
disclosed as a percentage in relation to the Total Votable Ordinary
Shares.
(3) The total number of ordinary shares voted (whether in person
or by proxy) at the annual general meeting in respect of each
individual resolution is disclosed as a percentage in relation to
the Total Votable Ordinary Shares.
Non-binding Advisory resolutions
As a result of more than 25% of the total votes cast being against
Non-binding Resolutions 1 and 2, the company will engage directly
with the dissenting shareholders within the next 45 business days.
Illovo
26 November 2021
Sponsor
Grindrod Bank Limited
Date: 26-11-2021 05:35:00
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