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

Release Date: 30/07/2019 14:17
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 30 July 2019 and all the ordinary and special
resolutions proposed at the AGM were approved by the requisite majority. The following information is provided:

Total number of shares that can be exercised at the meeting:                   744 235 492
Total issued number of ordinary shares:                                        493 450 321
Total issued number of B ordinary shares:                                      259 682 869
Treasury shares:                                                                 8 897 698
Number of ordinary shares that could have been voted at the meeting:           484 552 623

Total number of share present/represented including proxies at the meeting: 659 692 434
Number of ordinary shares represented at the meeting:                       400 009 565
Number of B shares represented at the meeting:                              259 682 869

Percentage of ordinary shares represented at the meeting:                       81.06%
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 disclosed         Votes disclosed as a     Number of        Shares voted        Shares
                       as a percentage of the         percentage in relation   shares voted     disclosed as a      abstained
                       total number of shares         to the Ord and B Ord                      percentage in       disclosed as a
                       (Ord and B Ord) voted          shares voted at the                       relation to the     percentage in
                       at the meeting                 meeting                                                       relation to the
                                                                             total issued       total issued
                                                                             share capital      share capital
                                                                             (see above for
                                                                             details of share
                                                                             capital)
                      FOR       AGAINST   FOR      AGAINST
Ordinary resolution    99.99%    0.01%    99.98%   0.02% Ord   399 828 573   81.03% Ord         0.04% Ord
number 1:                                 Ord                  Ord
Appointment of
external auditors                         100%     0% B Ord    259 682 869   100% B Ord         0% B Ord
                                          B Ord                B Ord

Ordinary resolution    92.01%    7.99%    86.83%   13.17%      399 829 070   81.03% Ord         0.04% Ord
number 2.1:                               Ord      Ord         Ord
Director retirement
and re-election –                         100%     0% B Ord    259 682 869   100% B Ord         0% B Ord
Hugh Herman                               B Ord                B Ord

Ordinary resolution    94.26%    5.74%    90.53%   9.47% Ord   399 829 070   81.03% Ord         0.04% Ord
number 2.2:                               Ord                  Ord
Director retirement
and re-election –                         100%     0% B Ord    259 682 869   100% B Ord         0% B Ord
Jeff van Rooyen                           B Ord                B Ord

Ordinary resolution    99.84%    0.16%    99.74%   0.26% Ord   399 829 070   81.03% Ord         0.04% Ord
number 2.3:                               Ord                  Ord
Director retirement
and re-election –                         100%     0% B Ord    259 682 869   100% B Ord         0% B Ord
David Friedland                           B Ord                B Ord

Ordinary resolution    98.90%    1.10%    98.19%   1.81% Ord   399 829 070   81.03% Ord         0.04% Ord
number 2.4:                               Ord                  Ord
Director retirement
and re-election –                         100%     0% B Ord    259 682 869   100% B Ord         0% B Ord
Suzanne                                   B Ord                B Ord
Ackerman-Berman
Ordinary resolution   98.91%   1.09%    98.20%   1.80% Ord   399 829 070   81.03% Ord   0.04% Ord
number 2.5:                             Ord                  Ord
Director retirement
and re-election –                       100%     0% B Ord    259 682 869   100% B Ord   0% B Ord
Jonathan Ackerman                       B Ord                B Ord

Ordinary resolution   95.59%   4.41%    92.72%   7.28% Ord   399 829 070   81.03% Ord   0.04% Ord
number 3.1:                             Ord                  Ord
Re-appointment of
Jeff van Rooyen to                      100%     0% B Ord    259 682 869   100% B Ord   0% B Ord
the audit, risk and                     B Ord                B Ord
compliance
committee
Ordinary resolution   85.20%   14.80%   75.49%   24.51%      395 370 759   80.12% Ord   0.94% Ord
number 3.2:Re-                          Ord      Ord         Ord
appointment of
Hugh Herman to                          100% B   0% B Ord    259 682 869   100% B Ord   0% B Ord
the audit, risk and                     Ord                  B Ord
compliance
committee
Ordinary resolution   99.84%   0.16%    99.73%   0.27%       399 829 070   81.03% Ord   0.04% Ord
number 3.3:                             Ord      Ord         Ord
Re-appointment of
Audrey Mothupi to                       100% B   0% B Ord    259 682 869   100% B Ord   0% B Ord
the audit, risk and                     Ord                  B Ord
compliance
committee
Ordinary resolution   99.86%   0.14%    99.76%   0.24% Ord   399 829 070   81.03% Ord   0.04% Ord
number 3.4:                             Ord                  Ord
Appointment of
David Friedland to                      100% B   0% B Ord    259 682 869   100% B Ord   0% B Ord
the audit, risk and                     Ord                  B Ord
compliance
committee
Advisory vote         84.89%   15.11%   75.05%   24.95 %     398 866 281   80.83% Ord   0.23% Ord
number 1:                               Ord      Ord         Ord
Endorsement of the
remuneration policy
for the 2019 annual                         100% B   0% B Ord    259 682 869   100% B Ord   0% B Ord
financial period                            Ord                  B Ord

Advisory vote          76.04%     23.96%    60.47%   39.53%      399 629 064   80.99% Ord   0.08% Ord
number 2:                                   Ord      Ord         Ord
Endorsement of the
remuneration
implementation                              100% B   0% B Ord    259 682 869   100% B Ord   0% B Ord
report for the 2019                         Ord                  B Ord
annual financial
period
Special resolution       79.77%    20.23%   66.63%   33.37%      399 703 845   81.00% Ord   0.06% Ord
number 1:                                   Ord      Ord         Ord
Directors’ fees for
the 2020 and 2021                           100% B   0% B Ord    259 682 869   100% B Ord   0% B Ord
annual financial                            Ord                  B Ord
periods
Special resolution       98.64%    1.36%    97.76%   2.24% Ord   399 845 912   81.03% Ord   0.03% Ord
number 2.1:                                 Ord                  Ord
Financial assistance
to related or inter-                        100% B   0% B Ord    259 682 869   100% B Ord   0% B Ord
related companies                           Ord                  B Ord

Special resolution       94.28%    5.72%    90.57%   9.43% Ord   399 842 124   81.03% Ord   0.03% Ord
number                                      Ord                  Ord
2.2:Financial
assistance to                               100% B   0% B Ord    259 682 869   100% B Ord   0% B Ord
persons                                     Ord                  B Ord

Special resolution       98.53%    1.47%    97.57%   2.43% Ord   399 653 156   80.99% Ord   0.07% Ord
number 3:                                   Ord                  Ord
General approval to
repurchase                                  100% B   0% B Ord    259 682 869   100% B Ord   0% B Ord
Company shares                              Ord                  B Ord
 Ordinary resolution    99.99%   0.01%   99.99%   0.01% Ord   399 827 077   81.03% Ord   0.04% Ord
 number 4:                               Ord                  Ord
 Directors’ authority
 to implement                            100% B   0% B Ord    259 682 869   100% B Ord   0% B Ord
 special and                             Ord                  B Ord
 ordinary resolutions


By order of the board
Cape Town
30 July 2019

Sponsor:
Investec Bank Limited

Date: 30/07/2019 02:17:00
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