Wrap Text
Report on proceedings at the annual general meeting
SABVEST LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/003753/06)
Share code: SBV – ordinary shares / SVN – ‘N’ ordinary shares
ISIN: ZAE000006417 – ordinary shares / ISIN: ZAE000012043 – ‘N’ ordinary shares
("Sabvest” or “the Company”)
REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING
At the annual general meeting (“AGM” or “the meeting”) of the shareholders of Sabvest held today, 14 May 2019, all the ordinary and
special resolutions proposed at the meeting were approved by the requisite majority of votes. In this regard, the Company confirms
the voting statistics from the AGM as follows:
Total number of shares voted for and against and disclosed as a percentage in relation to the total issued share capital, for all
resolutions:
Total issued share capital Total number of Percentage of
shares present or shares voted
represented by proxy
Ordinary shares* 16 975 293 11 930 758 70,3%
‘N’ ordinary shares* 24 826 919 7 297 217 29,4%
* Each ordinary share (“Ord”) has 500 votes and each ‘N’ ordinary share (“N Ord”) has one vote.
Total number of votes Total number of Percentage of
votes present or votes voted
represented by proxy
Total number of votes 8 515 473 419 5 972 718 717 70,1%
Total number of members present: 9
Total number of abstentions: 1
Resolutions Votes carried disclosed as a Shares abstained disclosed Shares voted disclosed as a
percentage in relation to the total as a percentage in relation percentage in relation to the total
number of shares voted at the to the total issued share issued share capital
meeting capital
For Against
Ordinary resolutions
1. Re-election of Mr B J T Shongwe as director 99,99% Ord 0,01% Ord 0% Ord 70,3% Ord
100% N Ord 0% N Ord 0,01% N Ord 29,4% N Ord
2. Re-election of Ms L Mthimunye as director 99,99% Ord 0,01% Ord 0% Ord 70,3% Ord
100% N Ord 0% N Ord 0,01% N Ord 29,4% N Ord
3. Re-election of Mr C S Seabrooke as director 99,99% Ord 0,01% Ord 0% Ord 70,3% Ord
100% N Ord 0% N Ord 0,01% N Ord 29,4% N Ord
4. Re-election of Mr L Rood as director 99,99% Ord 0,01% Ord 0% Ord 70,3% Ord
100% N Ord 0% N Ord 0,01% N Ord 29,4% N Ord
5. Re-appointment of Deloitte & Touche as 99,99% Ord 0,01% Ord 0% Ord 70,3% Ord
independent external auditors 100% N Ord 0% N Ord 0,01% N Ord 29,4% N Ord
6. Re-election of Audit Committee member - 99,99% Ord 0,01% Ord 0% Ord 70,3% Ord
Mr N S H Hughes 100% N Ord 0% N Ord 0,01% N Ord 29,4% N Ord
7. Re-election of Audit Committee member - 99,99% Ord 0,01% Ord 0% Ord 70,3% Ord
Mrs D N M Mokhobo 100% N Ord 0% N Ord 0,01% N Ord 29,4% N Ord
8. Re-election of Audit Committee member - 99,99% Ord 0,01% Ord 0% Ord 70,3% Ord
Ms L Mthimunye 100% N Ord 0% N Ord 0,01% N Ord 29,4% N Ord
9. Re-election of Audit Committee member - 99,99% Ord 0,01% Ord 0% Ord 70,3% Ord
Mr B J T Shongwe 100% N Ord 0% N Ord 0,01% N Ord 29,4% N Ord
10. Non-binding endorsement of Remuneration 99,99% Ord 0,01% Ord 0% Ord 70,3% Ord
Policy. 100% N Ord 0% N Ord 0,01% N Ord 29,4% N Ord
11. Non-binding endorsement of Remuneration 99,99% Ord 0,01% Ord 0% Ord 70,3% Ord
Implementation Report. 100% N Ord 0% N Ord 0,01% N Ord 29,4% N Ord
12. Placement of 1 million ordinary shares and all 99,96% Ord 0,04% Ord 0% Ord 70,3% Ord
unissued ‘N’ ordinary shares under the control 86,81% N Ord 13,19% N Ord 0,01% N Ord 29,4% N Ord
of the directors and general authority to allot
and issue
13. Authority to sign all documents required. 99,99% Ord 0,01% Ord 0% Ord 70,3% Ord
100% N Ord 0% N Ord 0,01% N Ord 29,4% N Ord
Special resolutions
1. Approval of proposed non-executive directors’ 99,96% Ord 0,04% Ord 0% Ord 70,3% Ord
remuneration for the year ending 31 100% N Ord 0% N Ord 0,01% N Ord 29,4% N Ord
December 2019.
2. Authority to provide financial assistance to any 99,96% Ord 0,04% Ord 0% Ord 70,3% Ord
group company in terms of Section 45 of the 100% N Ord 0% N Ord 0,01% N Ord 29,4% N Ord
Companies Act.
3. Authority to provide financial assistance to any 99,99% Ord 0,01% Ord 0% Ord 70,3% Ord
group company in terms of Section 44 of the 100% N Ord 0% N Ord 0,01% N Ord 29,4% N Ord
Companies Act.
4. General authority to repurchase shares 99,99% Ord 0,01% Ord 0% Ord 70,3% Ord
100% N Ord 0% N Ord 0,01% N Ord 29,4% N Ord
5. General authority to allot and issue 99,97% Ord 0,03% Ord 0% Ord 70,3% Ord
authorised but unissued securities for cash 100% N Ord 0% N Ord 0,01% N Ord 29,4% N Ord
The special resolutions will, where necessary, be lodged for registration with the Companies and Intellectual Property Commission in due course.
Sandton
14 May 2019
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 14/05/2019 05:13:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.