Wrap Text
Results of Annual General Meeting and Changes to the Board of Directors
NVEST FINANCIAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2008/015990/06)
(“NVest” or “the Company”)
ISIN Code: ZAE000199865 JSE Code: NVE
RESULTS OF ANNUAL GENERAL MEETING (“AGM”) AND CHANGES TO THE BOARD OF
DIRECTORS
RESULTS OF THE AGM
Shareholders are advised that, at the Company’s AGM held on 20 August 2018, the following resolutions were
passed without modification.
Number of ordinary shares represented at the meeting 242,006,758
Total issued number of ordinary shares 302,741,722
Percentage of ordinary shares represented at the meeting 79.94%
For Against
(% based on (% based on
total number total number Abstain
of shares of shares (% based on
present / present / total number Total Votes
represented at represented at of shares in (excluding
Resolutions AGM) AGM) issue) abstentions)
Ordinary resolution number 1 -
Adoption of annual financial 242,006,758 - - 242,006,758
statements 100.00% 0.00% 0.00% 100.00%
Ordinary resolution number 2 -
Appointment of director - Chris 242,006,758 - - 242,006,758
Grant Lemmon 100.00% 0.00% 0.00% 100.00%
Ordinary resolution number 3 -
Director retirement and re-election 242,006,758 - - 242,006,758
- Dylan Leigh Schemel 100.00% 0.00% 0.00% 100.00%
Ordinary resolution number 4 -
Director retirement and re-election 242,006,758 - - 242,006,758
- Jonathan Goldberg 100.00% 0.00% 0.00% 100.00%
Ordinary resolution number 5 -
Appointment and remuneration of 242,006,758 - - 242,006,758
auditors 100.00% 0.00% 0.00% 100.00%
Ordinary resolution number 6 -
Appointment of audit and risk
committee member - Jonathan 242,006,758 - - 242,006,758
Goldberg 100.00% 0.00% 0.00% 100.00%
Ordinary resolution number 7 -
Appointment of audit and risk
committee member - Siviwe 242,006,758 - - 242,006,758
Relebohile Kwatsha 100.00% 0.00% 0.00% 100.00%
Ordinary resolution number 8 -
Appointment of audit and risk
committee member - Professor 242,006,758 - - 242,006,758
Lana Joy Weldon 100.00% 0.00% 0.00% 100.00%
Ordinary resolution number 9 -
Endorsement of Nvest's 241,646,758 - 360,000 241,646,758
remuneration policy 100.00% 0.00% 0.12% 100.00%
Ordinary resolution number 10
Endorsement of the
implementation of Nvest's 241,646,758 - 360,000 241,646,758
remuneration policy 100.00% 0.00% 0.12% 100.00%
Ordinary resolution number 11
Approval of amendments to share 241,646,758 - 360,000 241,646,758
incentive scheme 100.00% 0.00% 0.12% 100.00%
Ordinary resolution number 12
Appointment of director - Brendan 242,006,758 - - 242,006,758
Joseph Connellan 100.00% 0.00% 0.00% 100.00%
Special resolution number 1 -
General authority to allot and 241,646,758 - 360,000 241,646,758
issue shares for cash 100.00% 0.00% 0.12% 100.00%
Special resolution number 2 -
Authority to issue shares,
securities convertible into shares
or rights that may exceed 30% of
the voting power of the current 241,646,758 - 360,000 241,646,758
issued share capital 100.00% 0.00% 0.12% 100.00%
Special resolution number 3 -
Independent non-executive 242,006,758 - - 242,006,758
directors' remuneration 100.00% 0.00% 0.00% 100.00%
Special resolution number 4 -
General authority to enter into
funding agreements, provide 241,646,758 - 360,000 241,646,758
loans or other financial assistance 100.00% 0.00% 0.12% 100.00%
Special resolution number 5 -
General authority to acquire 242,006,758 - - 242,006,758
(repurchase) shares 100.00% 0.00% 0.00% 100.00%
Special resolution number 6 -
Company acquiring the
company's shares from a director 242,006,758 - - 242,006,758
or prescribed officer 100.00% 0.00% 0.00% 100.00%
CHANGES TO THE BOARD OF DIRECTORS
In compliance with section 3.59 of the Listings Requirements of the Johannesburg Stock Exchange,
shareholders are advised of the following changes to the board of directors (“Board”) of NVest:
(i) Mr Frank Knox (“Frank”) has resigned as Financial Director with effect from 1 September 2018. Frank
will be taking over responsibility for the management of the property interests of NVest Properties
Limited with a view to enhancing the performance of this subsidiary.
(ii) Mr Glenn Orsmond (“Glenn”) has been appointed as the new Financial Director with effect from
1 September 2018.
Glenn graduated from Rhodes University in 1986 with a B.Comm, and completed a post graduate
diploma in Accounting in 1988 from the University of Port Elizabeth. Glenn completed his CA(SA) in
1989 through the PAAB and Level 1 of the CFA Programme in 2013 through the CFA Institute. From
August 1995 to July 2003 Glenn was employed at Comair Limited as Financial Director. He then served
as both CEO and Financial Director during his tenure at 1time Holdings Limited from August 2003 to
September 2011. Glenn left 1time Holdings Limited to consult in the aviation industry until December
2015, when he was employed as Chief Financial Officer of Star Air Cargo until date of employment with
NVest.
(iii) Mr Brendan Connellan (“Brendan”) has been re-appointed as an executive director with effect from
20 August 2018.
Brendan graduated from Rhodes University in 1997 with a B.Comm. In 2000 he completed a post
graduate diploma in Financial Planning from the University of the Free State as well as an advanced
post graduate diploma in Financial Planning in 2002 from the same university. In 2006 Brendan
achieved a certificate in Compliance Management from the University of Cape Town. From 1997 to
2008 Brendan served as an Executive Director (Head of Compliance and Operations) at NFB Private
Wealth Management (a member of the NVest Group). From 2008 to date Brendan has held the position
of Chief Operations Officer of NVest.
The Board welcomes Glenn and Brendan and looks forward to their contributions to the Company.
East London
22 August 2018
Designated Advisor
Arbor Capital Sponsors Proprietary Limited
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