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SABVEST CAPITAL LIMITED - Report on proceedings at the annual general meeting

Release Date: 23/05/2024 14:41
Code(s): SBP     PDF:  
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Report on proceedings at the annual general meeting

SABVEST CAPITAL LIMITED
(Incorporated in South Africa)
(Registration number 2020/030059/06)
JSE share code: SBP
ZAE000283511
("Sabcap")

REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING

Shareholders are advised that, at the annual general meeting ("AGM" or "the meeting") of the shareholders of Sabcap held electronically today, 23 May 2024, all the
ordinary and special resolutions proposed at the meeting were approved by the requisite majority of votes. The following information is provided in compliance with the
JSE Listings Requirements:

Total number of Sabcap shares in issue                                               39 220 000
Total number of votes exercisable by the ordinary shares ("Ord shares")              38 970 000
Total number of votes exercisable by the Z share ("Z share")*                        40 704 165
Total number of votes exercisable at the meeting                                     79 674 165
*The Z share is entitled to exercise votes equal to 104.45% of the voting rights of all the issued Ord shares on a poll.

Details of voting results:

                                                 Votes cast disclosed as a percentage in relation                            Votes held by
                                                 to the total number of votes held by shares                                 shares voted as a      Shares abstained
 Resolutions                                     voted at the meeting                                                        percentage in          disclosed as a
                                                                                                                             relation to the        percentage in
                                                                                                   Number of shares          total votes of all     relation to the total
                                                 For                      Against                  voted                     issued shares          issued shares
 Ordinary Resolutions
 1 – Re-election of director – Mr L Rood         99.92% Ord shares        0.08% Ord shares         21 093 980 Ord shares     26.48% Ord shares      0.5% Ord shares
                                                 100% Z share             0% Z share               40 704 165 Z share        51.09% Z share         0% Z share

 2 – Re-election of non-executive director –     95.35% Ord shares        4.65% Ord shares         21 093 980 Ord shares     26.48% Ord shares      0.5% Ord shares
 Mr BJT Shongwe                                  100% Z share             0% Z share               40 704 165 Z share        51.09% Z share         0% Z share

 3 – Re-election of non-executive director –     99.92% Ord shares        0.08% Ord shares         21 093 980 Ord shares     26.48% Ord shares      0.5% Ord shares
 Mr K Pillay                                     100% Z share             0% Z share               40 704 165 Z share        51.09% Z share         0% Z share

 4 – Appointment of independent external         99.92% Ord shares        0.08% Ord shares         21 093 980 Ord shares     26.48% Ord shares      0.5% Ord shares
 auditors                                        100% Z share             0% Z share               40 704 165 Z share        51.09% Z share         0% Z share

 5 – Re-election of Audit Committee member       99.92% Ord shares        0.08% Ord shares         21 093 980 Ord shares     26.48% Ord shares      0.5% Ord shares
 – Ms L Mthimunye                                100% Z share             0% Z share               40 704 165 Z share        51.09% Z share         0% Z share

 6 – Re-election of Audit Committee member       99.92% Ord shares        0.08% Ord shares         21 093 980 Ord shares     26.48% Ord shares      0.5% Ord shares
 – Mrs O Ighodaro                                100% Z share             0% Z share               40 704 165 Z share        51.09% Z share         0% Z share

 7 – Re-election of Audit Committee member       84.64% Ord shares        15.36% Ord shares        21 093 980 Ord shares     26.48% Ord shares      0.5% Ord shares
 – Mr BJT Shongwe                                100% Z share             0% Z share               40 704 165 Z share        51.09% Z share         0% Z share

 8 – Non-binding advisory vote on                99.92% Ord shares        0.08% Ord shares         21 093 980 Ord shares     26.48% Ord shares      0.5% Ord shares
 Remuneration Policy                             100% Z share             0% Z share               40 704 165 Z share        51.09% Z share         0% Z share

 9 – Non-binding advisory vote on                99.92% Ord shares        0.08% Ord shares         21 093 980 Ord shares     26.48% Ord shares      0.5% Ord shares
 Remuneration Implementation Report              100% Z share             0% Z share               40 704 165 Z share        51.09% Z share         0% Z share

 10 – Authority to sign all documents            99.92% Ord shares        0.08% Ord shares         21 093 980 Ord shares     26.48% Ord shares      0.5% Ord shares
 required                                        100% Z share             0% Z share               40 704 165 Z share        51.09% Z share         0% Z share

 Special Resolutions
 1 – Approval of proposed non-executive          99.92% Ord shares        0.08% Ord shares         21 093 980 Ord shares     26.48% Ord shares      0.5% Ord shares
 directors' remuneration for the year            100% Z share             0% Z share               40 704 165 Z share        51.09% Z share         0% Z share
 ending 31 December 2024  

 2 – Authority to provide financial assistance   99.92% Ord shares        0.08% Ord shares         21 093 980 Ord shares     26.48% Ord shares      0.5% Ord shares
 in terms of Section 45 of the Companies Act     100% Z share             0% Z share               40 704 165 Z share        51.09% Z share         0% Z share
 to any group company

 3 – Authority to provide financial assistance   99.92% Ord shares        0.08% Ord shares         21 093 980 Ord shares     26.48% Ord shares      0.5% Ord shares
 in terms of section 44 of the Companies Act     100% Z share             0% Z share               40 704 165 Z share        51.09% Z share         0% Z share

 4 – General authority to repurchase shares      99.92% Ord shares        0.08% Ord shares         21 093 980 Ord shares     26.48% Ord shares      0.5% Ord shares
                                                 100% Z share             0% Z share               40 704 165 Z share        51.09% Z share         0% Z share

The special resolution/s will, where necessary, be lodged for registration with the Companies and Intellectual Property Commission in due course.

Sandhurst
23 May 2024

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 23-05-2024 02:41:00
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