| Fri 10 Nov 2023, 10:00 | | AFROCENTRIC INVESTMENT CORPORATION LIMITED - Results of the annual general meeting |
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Results of the annual general meeting
AfroCentric Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1988/000570/06)
JSE Code: ACT ISIN: ZAE000078416
("the Company" or AfroCentric")
RESULTS OF THE ANNUAL GENERAL MEETING
Shareholders are advised that at the annual general meeting ("AGM") of AfroCentric held on 9 November
2023, all resolutions as set out in the notice of the AGM which was incorporated in the 2023 Integrated
Annual Report and distributed to shareholders on 9 October 2023 were duly approved by the requisite
majority of shareholders present and voting either in person or represented by proxy. The non-binding
advisory vote on AfroCentric's remuneration implementation report was voted against by more than 25%
of votes exercised at the AGM.
The total number of shares in issue as at the date of the AGM 100% 825 052 711
The total number of shares present/represented including proxies at the
meeting as percentage of voteable shares 58% 475 641 487
The total number of shares present/represented including proxies at the
meeting as percentage of issued shares 58% 475 641 487
Abstentions and shares voted are represented below as a percentage of total number of shares in issue.
Resolutions:
Ordinary Resolution number 1: Appointment of Directors
Ordinary resolution 1.1 – Appointment of Director: Mr PB Hanratty
For Against Abstain Shares voted
475 511 412 - 130 075 475 511 412
100.00% - 0.02% 57.63%
Ordinary resolution 1.2 – Appointment of Director: Ms MK Dippenaar
For Against Abstain Shares voted
475 511 412 - 130 075 475 511 412
100.00% - 0.02% 57.63%
Ordinary resolution 1.3 – Appointment of Director: MR GN van Wyk
For Against Abstain Shares voted
475 511 412 - 130 075 475 511 412
100.00% - 0.02% 57.63%
Ordinary Resolution number 2: Re-election of Directors
Ordinary resolution 2.1 – Re-election of Ms M Chauke
For Against Abstain Shares voted
475 511 412 - 130 075 475 511 412
100.00% - 0.02% 57.63%
Ordinary resolution 2.2 – Re-election of Mr MJ Madungandaba
For Against Abstain Shares voted
473 811 575 1 699 837 130 075 475 511 412
99.64% 0.36% 0.02% 57.63%
Ordinary resolution 2.3 – Re-election of Mr JB Fernandes
For Against Abstain Shares voted
475 511 412 - 130 075 475 511 412
100.00% - 0.02% 57.63%
Ordinary Resolution number 3: Appointment of Chairperson and Members to the Audit and Risk
Committee
Ordinary resolution 3.1 – Appointment of Mr JB Fernandes (Chairperson)
For Against Abstain Shares voted
475 511 412 - 130 075 475 511 412
100.00% - 0.02% 57.63%
Ordinary resolution 3.2 – Appointment of Ms AM le Roux
For Against Abstain Shares voted
475 511 412 - 130 075 475 511 412
100.00% - 0.02% 57.63%
Ordinary resolution 3.3 – Appointment of Ms M Chauke
For Against Abstain Shares voted
475 511 412 - 130 075 475 511 412
100.00% - 0.02% 57.63%
Ordinary resolution number 4: Appointment of Independent External Auditor
For Against Abstain Shares voted
463 248 370 12 263 042 130 075 475 511 412
97.42% 2.58% 0.02% 57.63%
Ordinary resolution number 5: General authority to issue shares for cash
For Against Abstain Shares voted
471 048 575 2 763 000 130 075 473 811 575
99.42% 0.58% 0.02% %
Ordinary resolution number 6: Approval of the Remuneration Policy
For Against Abstain Shares voted
473 961 412 1 550 000 130 075 475 511 412
99.67% 0.33% 0.02% 57.63%
Ordinary resolution number 7: Approval of the Remuneration Implementation Report
For Against Abstain Shares voted
239 008 283 236 503 129 130 075 475 511 412
50.26% 49.74% 0.02% 57.63%
Ordinary resolution number 8: Authority of Directors and/or Company Secretary
For Against Abstain Shares voted
475 511 412 - 130 075 475 511 412
100.00% - 0.02% 57.63%
Special resolution number 1: Approval of Non-Executive Directors' fees
For Against Abstain Shares voted
475 511 112 300 130 075 475 511 412
100.00% - 0.02% 57.63%
Special resolution number 2: General authority to repurchase shares
For Against Abstain Shares voted
475 511 412 - 130 075 475 511 412
100.00% - 0.02% 57.63%
Special resolution number 3: Financial assistance to related and inter-related company or
companies
For Against Abstain Shares voted
473 811 275 1 700 137 130 075 475 511 412
100.00% - 0.02% 57.63%
Special resolution number 4: Financial assistance for the subscription of shares to related or
inter-related companies
For Against Abstain Shares voted
473 811 275 1 700 137 130 075 475 511 412
100.00% - 0.02% 57.63%
In order to ascertain the concerns of dissenting shareholders in respect of the non-binding advisory vote
on the approval of the Remuneration Implementation Report, shareholders are advised that AfroCentric
has commenced engagement with these shareholders and will continue to do so.
Those shareholders who have not yet engaged with AfroCentric and who have concerns on the
remuneration implementation report, are invited to contact the Chairperson of the Remuneration
Committee, Mr Joe Madungandaba or Dr Anna Mokgokong, the Chairman of the Board, by 31 December
2023, by e-mailing the Company Secretary at billym@afrocentrichealth.com.
10 November 2023
JSE Sponsor to AfroCentric
Questco Corporate Advisory Proprietary Limited
Date: 10-11-2023 10:00:00
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