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Mpact - resignation of directors
Shareholders were referred to the SENS announcement released on 26 September 2022, which advised that the non-executive directors of Mpact Ltd. were appointed to the Board of the Company's main operating subsidiary, Mpact Operations. This was as a result of the Mpact Ltd. non-executive directors' remuneration not receiving shareholder approval at the Mpact Ltd. AGM held on 2 June 2022.
The appointment of the Mpact Ltd. non-executive directors to the Mpact Operations Board was thus necessary to remunerate them while they continued discharging their duties of maintaining good governance within the broader Mpact Group and protecting the interests of the Company and its shareholders.
At the Mpact Ltd. AGM held on 5 June 2025, shareholders approved the non-executive directors' remuneration.
Consequently, from 1 July 2025, non-executive directors will be remunerated by Mpact Ltd. once again, and there will no longer be any need for them to be appointed to the Mpact Operations Board.
Shareholders were hereby advised of the resignation of all the Mpact Ltd. non-executive directors from the Mpact Operations Board, effective 1 July 2025, namely:
• PCS Luthuli;
• M Makanjee;
• ABA Conrad;
• FC Futwa;
• DG Wilson; and
• S Mayet
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