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DATATEC LIMITED - Report on proceedings at the annual general meeting

Release Date: 30/07/2021 10:30
Code(s): DTC     PDF:  
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Report on proceedings at the annual general meeting

Datatec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
JSE Share code: DTC
ISIN: ZAE000017745
("Datatec")

REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING

At the annual general meeting (“AGM” or “the meeting”) of the shareholders of Datatec held on Thursday, 29 July 2021, the special and ordinary resolutions proposed at
the AGM were unaltered from those reflected in the Notice of AGM and were approved by the requisite majority of votes.

Whereas the non-binding advisory vote relating to the remuneration policy received a 93% vote in favour, the non-binding advisory vote on the remuneration
implementation report received a 64% vote in favour, which is below the 75% support level referred to in the King Code. The board of directors of Datatec will continue
its consultation process and plans to arrange a series of meetings with major shareholders. An invitation will be issued on SENS to all shareholders to engage with the
company before the end of the calendar year. These engagements will be led by the Chair of the Company and the Remuneration Committee Chair and a report on the
outcomes of the consultation process will be included in next year’s Remuneration Report.

DETAIL OF VOTING STATISTICS AT THE AGM
Datatec confirms the voting statistics from the AGM as follows:

Total number of shares in issue                                                 201 450 000
Treasury shares (excluded from voting)                                                   --
Total number of shares represented (including proxies) at the AGM               187 477 122
Proportion of total voteable shares represented at the AGM                           93.06%


                                                                   Votes cast disclosed as a                      Shares voted   Shares
                                                                   percentage of the total                        disclosed as   abstained
                                                                   number of shares voted       Number of         a percentage   disclosed as a
Resolution                                                         at the meeting               Shares Voted      of the total   percentage of
                                                                                                                  issued         the total issued
                                                                   For            Against                         shares         shares

 Ordinary resolution 1: Re-election of JP Montanana                99.15%         0.85%         187 154 707       92.90%         0.16%
 Ordinary resolution 2: Re-election of M Makanjee                  98.05%         1.95%         187 154 707       92.90%         0.16%
 Ordinary resolution 3: Re-election of E Singh-Bushell             97.47%         2.53%         187 154 707       92.90%         0.16%
 Ordinary resolution 4: Reappointment of independent
 auditors                                                          99.54%         0.46%         187 154 707       92.90%         0.16%
 Ordinary resolution 5.1: Election of Audit, Risk and
 Compliance Committee member - MJN Njeke                           93.71%         6.29%         187 154 707       92.90%         0.16%
 Ordinary resolution 5.2: Election of Audit, Risk and
 Compliance Committee member - E Singh-Bushell                     97.60%         2.40%         187 154 707       92.90%         0.16%
 Ordinary resolution 5.3: Election of Audit, Risk and
 Compliance Committee member - CRK Medlock                         99.90%         0.10%         187 154 707       92.90%         0.16%
 Ordinary resolution 6: Non-binding advisory vote on
 remuneration policy                                               93.03%         6.97%         187 154 707       92.90%         0.16%
 Ordinary resolution 7: Non-binding advisory vote on
 remuneration implementation                                       64.73%         35.27%        187 154 707       92.90%         0.16%
 Special resolution 1: Approval of non-executive directors’
 fees                                                              87.84%         12.16%        187 154 707       92.90%         0.16%
 Special resolution 2: Authority to provide financial
 assistance to any Group company                                   99.23%         0.77%         187 154 707       92.90%         0.16%
 Special resolution 3: General authority to repurchase
 shares                                                            99.57%         0.43%         186 892 897       92.77%         0.29%
 Ordinary resolution 8: Authority to sign all documents
 required                                                          99.95%         0.05%         187 154 707       92.90%         0.16%

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

Sandton
30 July 2021

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

Date: 30-07-2021 10:30:00
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