To view the PDF file, sign up for a MySharenet subscription.

PRIMESERV GROUP LIMITED - Results of Annual General Meeting

Release Date: 27/11/2020 14:10
Code(s): PMV     PDF:  
Wrap Text
Results of Annual General Meeting

Primeserv Group Limited
Incorporated in the Republic of South Africa
(Registration number 1997/013448/06)
Share code: PMV ISIN: ZAE000039277
(“Primeserv” or “the Company”)

RESULTS OF ANNUAL GENERAL MEETING

Shareholders are advised that, at the annual general meeting of the
Company held on Friday, 27 November 2020, nine of the ten proposed
ordinary resolutions and all the special resolutions were passed by
the requisite majority of shareholders present and voting, in person
or by proxy. Ordinary resolution 4 and Non-binding Resolutions 1
and 2 were not passed by the requisite majority of shareholders.

Details of the results of voting at the annual general meeting are
as follows:
- total number of issued ordinary shares: 122 967 031
- Total number of issued ordinary shares net of treasury shares
(“Total Votable Ordinary Shares”): 85 979 755
-   total   number   of   issued   ordinary   shares   which   were
present/represented at the annual general meeting: 55 075 833 being
64.06% of the Total Votable Ordinary Shares.

Ordinary Resolutions
Ordinary resolution 1.1: Appointment of Mazars as independent
auditors
 For (1)          Against (1)    Abstentions (2) Shares voted
                                                 (3)
  55 075 833      0, being 0.00% 0, being 0.00%   55 075 833,
 being 100.00%                                   being 64.06%

Ordinary resolution 1.2: Appointment of M Patel as designated audit
partner
 For (1)          Against (1)      Abstentions (2) Shares voted
                                                    (3)
  55 075 833      0, being 0.00%   0, being 0.00%    55 075 833,
 being 100.00%                                      being 64.06%

Ordinary resolution 1.3: Board to confirm auditors’ remuneration
 For (1)          Against (1)      Abstentions (2) Shares voted
                                                    (3)
  55 075 833      0, being 0.00%   0, being 0.00%    55 075 833,
 being 100.00%                                      being 64.06%
Ordinary resolution 2.1: Re-election of non-executive director - B
Kali
 For (1)          Against (1)      Abstentions (2) Shares voted
                                                    (3)
 46 759 613       0, being 0.00%   8 316 220,       46 759 613,
 being 100.00%                     being 9.67%      being 54.38%

Ordinary resolution 2.2: Re-election of non-executive director –
DL Rose
 For (1)          Against (1)      Abstentions (2) Shares voted
                                                    (3)
 46 759 613       0, being 0.00%   8 316 220,       46 759 613,
 being 100.00%                     being 9.67%      being 54.38%

Ordinary resolution 3.1: Re-election of the members of the Audit,
Governance and Risk Committee: B Kali
 For (1)          Against (1)      Abstentions (2) Shares voted
                                                    (3)
 38 809 833       0, being 0.00%   16 266 000,      38 809 833,
 being 100.00%                     being 18.92%     being 45.14%

Ordinary resolution 3.2: Re-election of the members of the Audit,
Governance and Risk Committee: LM Maisela
 For (1)          Against (1)      Abstentions (2) Shares voted
                                                    (3)
 38 809 833       0, being 0.00%   16 266 000,      38 809 833,
 being 100.00%                     being 18.92%     being 45.14%

Ordinary resolution 3.3: Re-election of the members of the Audit,
Governance and Risk Committee: DL Rose
 For (1)          Against (1)      Abstentions (2) Shares voted
                                                    (3)
 55 075 833       0, being 0.00%   0, being 0.00%   55 075 833,
 being 100.00%                                      being 64.06%

Ordinary resolution 4: General authority to directors to issue
shares for cash
 For (1)          Against (1)      Abstentions (2) Shares voted
                                                    (3)
 30 493 613       24 582 220,      0, being 0.00%   55 075 833,
 being 55.37%     being 44.63%                      being 64.06%
*Required a 75% majority vote

Ordinary resolution 5: Authorisation to implement the resolutions
 For (1)          Against (1)      Abstentions (2) Shares voted
                                                    (3)
 55 075 833       0, being 0.00%   0, being 0.00%   55 075 833,
 being 100.00%                                      being 64.06%
Non-binding advisory resolutions
Non-binding advisory resolution 1: Advisory endorsement of
Remuneration Policy
 For (1)          Against (1)      Abstentions (2) Shares voted
                                                    (3)
 30 493 613       24 582 220,      0, being 0.00%   55 075 833,
 being 55.37%     being 44.63%                      being 64.06%

Non-binding advisory resolution 2: Advisory endorsement of
implementation report
 For (1)          Against (1)      Abstentions (2) Shares voted
                                                    (3)
 30 493 613       24 582 220,      0, being 0.00%   55 075 833,
 being 55.37%     being 44.63%                      being 64.06%

Special resolutions
Special resolution 1: remuneration of non-executive directors
 For (1)          Against (1)      Abstentions (2) Shares voted
                                                    (3)
 46 759 613       0, being 0.00%   8 316 220,       46 759 613,
 being 100.00%                     being 9.67%      being 54.38%

Special resolution 2: Financial assistance to subsidiaries
 For (1)          Against (1)      Abstentions (2) Shares voted
                                                    (3)
 55 075 833       0, being 0.00%   0, being 0.00%   55 075 833,
 being 100.00%                                      being 64.06%

Special resolution 3: General authority to repurchase shares
 For (1)          Against (1)      Abstentions (2) Shares voted
                                                    (3)
 55 075 833       0, being 0.00%   0, being 0.00%   55 075 833,
 being 100.00%                                      being 64.06%

Notes:
(1) The votes carried for and against each individual resolution
are disclosed as a percentage in relation to the total number of
ordinary shares voted (whether in person or by proxy) in respect
of such individual resolution at the annual general meeting.
(2)The total number of ordinary shares abstained in respect of
each individual resolution (whether in person or by proxy) is
disclosed as a percentage in relation to the Total Votable Ordinary
Shares.
(3) The total number of ordinary shares voted (whether in person
or by proxy) at the annual general meeting in respect of each
individual resolution is disclosed as a percentage in relation to
the Total Votable Ordinary Shares.
Non-binding Advisory resolutions
As a result of more than 25% of the total votes cast being against
Non-binding Resolutions 1 and 2, the Company will engage directly
with the two dissenting shareholders within the next 45 business
days.


Illovo
27 November 2020

Sponsor
Grindrod Bank Limited

Date: 27-11-2020 02:10:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story