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Report on proceedings at the annual general meeting
AECI LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1924/002590/06
Share code: AFE ISIN: ZAE000000220
Hybrid code: AFEP ISIN: ZAE000000238
Bond company code: AECI
LEI: 3789008641F1D3D90E85
(AECI)
REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING
At the 101st Annual General Meeting of the shareholders of AECI (AGM) held on Tuesday, 27 May 2025, all of the
ordinary and special resolutions proposed thereat were approved by the requisite majority of votes. In this regard,
AECI confirms the voting statistics from the AGM as follows:
Resolution Votes cast Number of Percentage Abstentions
For Against shares of shares
voted voted
Ordinary resolution No. 1: 99.47% 0.53% 99 636 877 94.43% 0.18%
Re-appointment of the
independent external auditor and
appointment of designated
individual audit partner
Ordinary resolution No. 2.1: 99.88% 0.12% 99 636 877 94.43% 0.18%
Re-election of non-executive
director – Mr WH Dissinger
Ordinary resolution No. 2.2: 99.88% 0.12% 97 693 339 92.58% 2.02%
Re-election of non-executive
director – Ms FFT Dludlu
(De Buck)
Ordinary resolution No. 2.3: 99.88% 0.12% 99 636 877 94.43% 0.18%
Re-election of non-executive
director – Ms AM Roets
Ordinary resolution No. 2.4: 99.69% 0.31% 95 650 963 90.65% 3.96%
Re-election of non-executive
director – Ms PG Sibiya
Ordinary resolution No. 3: 99.76% 0.24% 99 636 877 94.43% 0.18%
Re-election of executive director
– Mr H Riemensperger
Ordinary resolution No. 4.1: 99.89% 0.11% 97 693 339 92.58% 2.02%
Election of non-executive director
– Ms NT Moholi
Ordinary resolution No. 4.2: 99.89% 0.11% 99 636 877 94.43% 0.18%
Election of non-executive director
– Mr J Ndlovu
Ordinary resolution No. 4.3: 99.49% 0.51% 99 636 877 94.43% 0.18%
Election of non-executive director
– Mr B Mawasha
Ordinary resolution No. 5.1: 99.88% 0.12% 99 636 877 94.43% 0.18%
Election of Audit Committee
member – Ms AM Roets
Ordinary resolution No. 5.2: 99.43% 0.57% 94 997 768 90.03% 4.58%
Election of Audit Committee
member – Ms FFT Dludlu
(De Buck)
Ordinary resolution No. 5.3: 99.66% 0.34% 99 636 877 94.43% 0.18%
Election of Audit Committee
member – Mr WH Dissinger
Ordinary resolution No. 6.1: 99.88% 0.12% 97 040 144 91.97% 2.64%
Election of Social, Ethics &
Sustainability Committee
member – Ms FFT Dludlu
(De Buck)
Ordinary resolution No. 6.2: 99.89% 0.11% 99 636 877 94.43% 0.18%
Election of Social, Ethics &
Sustainability Committee
member – Ms PM O'Brien
Ordinary resolution No. 6.3: 99.76% 0.24% 99 636 877 94.43% 0.18%
Election of Social, Ethics &
Sustainability Committee
member – Mr B Mawasha
Ordinary resolution No. 6.4: 99.69% 0.31% 94 997 768 90.03% 4.58%
Election of Social, Ethics &
Sustainability Committee
member – Ms PG Sibiya
Ordinary resolution No. 7.1: 85.08% 14.92% 99 636 877 94.43% 0.18%
Non-binding advisory resolution:
Remuneration policy
Ordinary resolution No. 7.2: 90.08% 9.92% 99 580 028 94.37% 0.24%
Non-binding advisory resolution:
Implementation report
Ordinary resolution No. 8: 95.83% 4.17% 99 636 877 94.43% 0.18%
Directors' authority to implement
special and ordinary resolutions
Special resolution No. 1.1: 99.76% 0.24% 99 636 877 94.43% 0.18%
Directors' fees – Board:
Chairperson
Special resolution No. 1.2: 99.89% 0.11% 99 636 877 94.43% 0.18%
Directors' fees – Board: Non-
Executive Director
Special resolution No. 1.3: 99.89% 0.11% 99 636 877 94.43% 0.18%
Directors' fees – Audit
Committee: Chairperson
Special resolution No. 1.4: 99.89% 0.11% 99 636 877 94.43% 0.18%
Directors' fees – Risk
Committee: Chairperson
Special resolution No. 1.5: 99.89% 0.11% 99 636 877 94.43% 0.18%
Directors' fees – Environment,
Health and Safety Committee:
Chairperson
Special resolution No. 1.6: 99.87% 0.13% 99 636 877 94.43% 0.18%
Directors' fees – Remuneration &
Human Capital Committee:
Chairperson
Special resolution No. 1.7: 99.87% 0.13% 99 636 877 94.43% 0.18%
Directors' fees – Social, Ethics &
Sustainability Committee:
Chairperson
Special resolution No. 1.8: 99.89% 0.11% 99 636 877 94.43% 0.18%
Directors' fees – Nominations,
Governance & Directors' Affairs
Committee: Chairperson
Special resolution No. 1.9: 99.89% 0.11% 99 636 877 94.43% 0.18%
Directors' fees – Investment,
Innovation & Technology
Committee: Chairperson
Special resolution No. 1.10: 99.89% 0.11% 99 636 877 94.43% 0.18%
Directors' fees – Audit
Committee: Member
Special resolution No. 1.11: 99.89% 0.11% 99 636 877 94.43% 0.18%
Directors' fees – Remuneration &
Human Capital Committee:
Member
Special resolution No. 1.12: 99.89% 0.11% 99 636 877 94.43% 0.18%
Directors' fees – Social, Ethics &
Sustainability Committee:
Member
Special resolution No. 1.13: 99.89% 0.11% 99 636 877 94.43% 0.18%
Directors' fees – Other Board
Committees: Member
Special resolution No. 1.14: 99.76% 0.24% 99 635 345 94.43% 0.18%
Directors' fees – Special meeting
attendance fee
Special resolution No. 1.15: 99.87% 0.13% 99 635 345 94.43% 0.18%
Directors' fees – Per-trip
allowance
Special resolution No. 2: 95.94% 4.06% 99 636 877 94.43% 0.18%
Approval of financial assistance
to related or inter-related
company
Notes:
- The total issued share capital of AECI is 105 517 780 listed ordinary shares and 3 000 000 listed cumulative
preference shares.
- Percentages of shares voted are calculated in relation to the total issued ordinary share capital of AECI.
- Percentages of shares voted for and against are calculated in relation to the total number of ordinary shares 3
voted in respect of each resolution.
- Abstentions are calculated as a percentage in relation to the total issued ordinary share capital of AECI.
Woodmead, Sandton
28 May 2025
Equity Sponsor: One Capital
Debt Sponsor: Questco Corporate Advisory
Date: 28-05-2025 10:00:00
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