| Mon 27 Feb 2023, 11:10 | | ASTRAL FOODS LIMITED - Feedback on Engagement with Shareholders |
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Feedback on Engagement with Shareholders
ASTRAL FOODS LIMITED
“Astral Foods” or “the Company”
(Reg. No. 1978/003194/06)
(Incorporated in the Republic of South Africa)
Share Code: ARL
ISIN Code: ZAE000029757
FEEDBACK ON ENGAGEMENT WITH SHAREHOLDERS
Further to the announcement released on SENS on 2 February 2023
inviting shareholders to engage with the Company on the
Remuneration Policy and the Implementation thereof,
shareholders are advised that none of the dissenting
shareholders attended the session held on 23 February 2023.
Shareholders, holding approximately 17,64% of voteable shares
in Astral Foods, submitted their reasons for voting against the
Remuneration Policy and the implementation thereof in writing.
In addition, written commentary was received from an
international consultant who advised their clients to vote
against the implementation report. All written input was
received by the Company prior to 2 February 2023. No further
input was received subsequent to the Annual General Meeting.
The board takes note of the reasons put forward for voting
against the Remuneration Policy and its Implementation Report,
as outlined in the written correspondence received. It is,
however, disconcerting that, in many cases the reasons put
forward for the adverse votes were ill-advised and stem from
inaccurate interpretation of the relevant policy and report
included in the 2022 Integrated Report.
The Company is committed to constructive shareholder
engagements in the spirit of effective and transparent
communication, in an effort to achieve fairness of the
Remuneration Policy and the Implementation thereof.
Astral Foods will continue, as in the past, to extensively
consult with and make engagement opportunities available for
shareholders on the Remuneration Policy and its Implementation.
Pretoria
27 February 2023
Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank
Limited
Date: 27-02-2023 11:10:00
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