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ALLIED ELECTRONICS CORPORATION LIMITED - Results of the Annual General Meeting of Altron held on 10 July 2019

Release Date: 10/07/2019 11:27
Code(s): AEL     PDF:  
 
Wrap Text
Results of the Annual General Meeting of Altron held on 10 July 2019

Allied Electronics Corporation Limited
 (Registration number 1947/024583/06)
(Incorporated in the Republic of South Africa)
Share code: AEL ISIN: ZAE000191342
(“Altron” or “the company”)


RESULTS OF THE ANNUAL GENERAL MEETING OF ALTRON HELD ON 10 JULY 2019

Shareholders are advised that the results of the business conducted at the Altron annual
general meeting held on Wednesday, 10 July 2019 at 09:00 in the Altron Boardroom, 4
Sherborne Road, Parktown, Johannesburg are as follows:

 Total issued number        Total number of   Number of ordinary       Percentage of
 of ordinary shares         voteable shares   shares represented at    ordinary shares
                                              the meeting              represented at the
                                                                       meeting

 399 392 937                371 212 857       333 562 120              89.86%

Annual financial statements

The annual financial statements of the company, incorporating the external auditor, audit
committee and directors’ reports for the year ended 28 February 2019, were presented.

Details of the results of voting at the annual general meeting are as follows:
                              Votes disclosed as                Shares voted     Shares
                              percentage in relation to total   disclosed as     abstained
                              number of shares voted at the     a percentage     disclosed as
                              meeting                           in relation to   a percentage
                                                                the total        in relation to
                                                                issued share     the total
                                                                capital          issued share
                                                                                 capital
 Resolutions
                              For                Against
 Ordinary resolution          99.80%             0.20%          83.50%           0.02%
 number 1.1: Election
 of director: Dr P
 Mnganga
 Ordinary resolution          99.85%             0.15%          83.50%           0.02%
 number 1.2: Election
 of director: Mr C Miller
 Ordinary resolution          99.81%             0.19%          83.50%           0.02%
 number 2.1: Re-
 election of director: Mr
 MJ Leeming
 Ordinary resolution          90.58%             9.42%            82.49%         1.03%
 number 2.2: Re-
 election of director: Mr
 RE Venter
 Ordinary resolution          99.80%             0.20%           83.50%         0.01%
 number 3: Re-
 appointment of external
 auditor
 Ordinary resolution            100%                 0%          83.50%          0.02%
 number 4.1: Election
 of audit committee
 member: Mr GG Gelink
 Ordinary resolution           99.98%            0.02%           83.50%          0.02%
 number 4.2: Election
 of audit committee
 member: Mr SW van
 Graan
 Ordinary resolution            100%                0%           83.50%           0.02%
 number 4.3: Election
 of audit committee
 member: Ms BJ Francis
 Ordinary resolution           93.40%            6.60%           83.48%           0.04%
 number 5:
 Endorsement of Altron
 Group Remuneration
 Policy
 Ordinary resolution            98.23%            1.77%           83.50%          0.01%
 number 6:
 Endorsement of
 implementation of
 Altron Group
 Remuneration Policy
 Ordinary resolution             96.01%           3.99%            83.50%         0.02%
 number 7: General
 authority to directors to
 allot and issue
 authorised but
 unissued A ordinary
 shares
 Ordinary resolution             90.63%           9.37%            83.50%         0.02%
 number 8: Amendment
 to The Altron 2009
 Share Plan
 Ordinary resolution              99.98%          0.02%            83.50%          0.01%
 number 9: Authority to
 implement resolutions
 passed at the AGM
 Special resolution               99.99%          0.01%            83.50%          0.02%
 number 1:
 Remuneration of
 independent non-
 executive chairman
 Special resolution                100%             0%             83.50%         0.02%
 number 2:
 Remuneration of non-
 executive directors
 Special resolution                 100%             0%            83.50%         0.02%
 number 3.1:
 Remuneration payable
 to audit committee
 chairman
 Special resolution                 100%              0%            83.50%         0.02%
 number 3.2:
 Remuneration payable
 to audit committee
 member
 Special resolution                99.98%          0.02%            83.50%         0.02%
 number 3.3:
 Remuneration payable
 to remuneration
 committee chairman


 Special resolution                 99.98%          0.02%            83.50%         0.02%
 number 3.4:
 Remuneration payable
 to remuneration
 committee member


 Special resolution                    100%             0%             83.50%        0.02%
 number 3.5:
 Remuneration payable
 to risk management
 committee chairman
 Special resolution                     100%             0%              83.50%      0.02%
 number 3.6:
 Remuneration payable
 to risk management
 committee member
 Special resolution                   99.98%           0.02%              83.50%      0.02%
 number 3.7:
 Remuneration payable
 to nomination
 committee chairman


Special resolution                     99.98%           0.02%            83.50%       0.02%
number 3.8:
Remuneration payable
to nomination
committee member


Special resolution                     99.98%            0.02%           83.50%       0.02%
number 3.9:
Remuneration payable
to social and ethics
committee chairman
 Special resolution                     99.98%             0.02%           83.50%           0.02%
 number 3.10:
 Remuneration payable
 to social and ethics
 committee member
 Special resolution                     100%               0%              83.50%           0.02%
 number 3.11:
 Remuneration payable
 to investment
 committee chairman
 Special resolution                      100%               0%              83.50%           0.02%
 number 3.12:
 Remuneration payable
 to investment
 committee member
 Special resolution                      100%               0%              83.50%           0.02%
 number 4:
 Remuneration payable
 to non-executive
 directors for
 participating in special/
 unscheduled board
 meetings and strategy
 sessions
 Special resolution                       99.47%             0.53%           83.50%           0.02%
 number 5: General
 authority to provide
 financial assistance to
 related or inter-related
 companies

Accordingly, all the resolutions as set out in the notice of annual general meeting, were passed
by the requisite majority of votes.

The special resolutions will, to the extent necessary, be filed and registered with the
Companies and Intellectual Property Commission.

Johannesburg
10 July 2019
Sponsor: Investec Bank Limited

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