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Results of the 88th Annual General Meeting and Change in Director Responsibility
Mr Price Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1933/004418/06)
ISIN: ZAE000200457
LEI number: 378900D3417C35C5D733
JSE and A2X Share Code: MRP
("Mr Price Group" or "the Group")
RESULTS OF THE 88th ANNUAL GENERAL MEETING AND CHANGE IN DIRECTOR RESPONSIBILITY
Results of the 88th annual general meeting
Shareholders are advised that at the Mr Price Group Annual General Meeting (“AGM”) held yesterday, Wednesday 25 August 2021, all
the ordinary and special resolutions as set out in the notice of AGM dated 11 June 2021 were passed by the requisite majority of votes
of shareholders present in person or represented by proxy.
The total number of shares present or represented, including by proxy, at the AGM was 76.21% of the Group’s issued share capital* as
at Friday 20 August 2021, being the AGM voting record date. The voting results were as follows:
Votes cast as a Votes cast as a % of the Shares Shares
combined % of the number of shares voted at the Number of voted as a abstained
total number of meeting shares voted % of issued as a % of
shares voted Ordinary shares (“Ord”) share issued
(Ordinary shares B ordinary shares (“B Ord”) capital* share
and B ordinary Ordinary capital*
Resolutions shares) at the shares Ordinary
meeting (“Ord”) shares
B ordinary (“Ord”)
For Against For Against shares (“B B
Ord”) ordinary
shares
(“B Ord”)
Ordinary resolution 1 - 99.97 0.03 99.95 Ord 0.05 Ord 192,503,982 Ord 75.21 Ord 0.29 Ord
Adoption of the annual 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
financial statements
Ordinary resolutions 2.1
and 2.2 - Re-election of
directors retiring by
rotation
90.22 9.78 85.54 Ord 14.46 Ord 192,963,825 Ord 75.39 Ord 0.11 Ord
2.1 Daisy Naidoo
100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
93.65 6.35 90.62 Ord 9.38 Ord 192,963,825 Ord 75.39 Ord 0.11 Ord
2.2 Mark Bowman
100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
Ordinary resolution 3 – 99.52 0.48 99.29 Ord 0.71 Ord 192,963,825 Ord 75.39 Ord 0.11 Ord
confirmation of 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
appointment of non-
executive director Lucia
Swartz
Ordinary resolution 4 – 100.00 0.00 100.00 Ord 0.00 Ord 192,963,825 Ord 75.39 Ord 0.11 Ord
confirmation of 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
appointment of non-
executive director Jane
Canny
Ordinary resolution 5 - 80.04 19.96 70.49 Ord 29.51 Ord 192,963,773 Ord 75.39 Ord 0.11 Ord
Re-election of 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
independent auditor
Ordinary resolutions 6.1
to 6.3 - Election of
members of the audit
and compliance
committee
89.05 10.95 83.82 Ord 16.18 Ord 192,963,825 Ord 75.39 Ord 0.11 Ord
6.1 Daisy Naidoo
100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
99.26 0.74 98.90 Ord 1.10 Ord 192,963,825 Ord 75.39 Ord 0.11 Ord
6.2 Mark Bowman
100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
100.00 0.00 100.00 Ord 0.00 Ord 192,963,825 Ord 75.39 Ord 0.11 Ord
6.3 Mmaboshadi Chauke
100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
Ordinary resolution 7 - 83.08 16.92 74.98 Ord 25.02 Ord 192,961,463 Ord 75.39 Ord 0.11 Ord
Non-binding advisory 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
vote on the remuneration
policy** (see
commentary below)
Ordinary resolution 8 - 59.85 40.15 40.64 Ord 59.36 Ord 192,911,138 Ord 75.37 Ord 0.13 Ord
Non-binding advisory 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
vote on the remuneration
implementation report**
(see commentary below)
Ordinary resolution 9 - 100.00 0.00 100.00 Ord 0.00 Ord 192,503,482 Ord 75.21 Ord 0.29 Ord
Adoption of the SETS 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
committee report
Ordinary resolution 10 - 100.00 0.00 100.00 Ord 0.00 Ord 192,940,624 Ord 75.38 Ord 0.12 Ord
Signature of documents 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
Ordinary resolution 11 - 78.18 21.82 67.75 Ord 32.25 Ord 192,963,773 Ord 75.39 Ord 0.11 Ord
Control of unissued 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
shares (excluding issues
for cash)
Ordinary resolution 12 – 77.57 22.43 66.56 Ord 33.44 Ord 188,016,707 Ord 73.46 Ord 0.11 Ord
General issue of shares 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
for cash
Special resolutions 1.1 to
1.12 - Non-executive
director remuneration:
1.1 Independent non- 99.71 0.29 99.58 Ord 0.42 Ord 192,961,988 Ord 75.39 Ord 0.11 Ord
executive chair of the 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
board – R 1 778 211
1.2 Honorary chair of the 97.09 2.91 95.69 Ord 4.31 Ord 191,611,496 Ord 74.86 Ord 0.63 Ord
board – R865 501 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
1.3 Lead independent 99.77 0.23 99.66 Ord 0.34 Ord 192,961,911 Ord 75.39 Ord 0.11 Ord
director of the board – 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
R600 997
1.4 Non-executive 99.79 0.21 99.68 Ord 0.32 Ord 192,961,911 Ord 75.39 Ord 0.11 Ord
directors – R409 812 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
1.5 Audit and 99.90 0.10 99.86 Ord 0.14 Ord 192,961,911 Ord 75.39 Ord 0.11 Ord
compliance committee 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
chair – R329 827
1.6 Audit and 99.91 0.09 99.87 Ord 0.13 Ord 192,961,911 Ord 75.39 Ord 0.11 Ord
compliance committee 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
members – R161 466
1.7 Remuneration and 99.90 0.10 99.86 Ord 0.14 Ord 192,961,911 Ord 75.39 Ord 0.11 Ord
nominations committee 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
chair – R216 852
1.8 Remuneration and 99.91 0.09 99.87 Ord 0.13 Ord 192,961,911 Ord 75.39 Ord 0.11 Ord
nominations committee 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
members – R108 047
1.9 SETS committee 99.90 0.10 99.86 Ord 0.14 Ord 192,961,911 Ord 75.39 Ord 0.11 Ord
chair – R179 181 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
1.10 SETS committee 99.91 0.09 99.87 Ord 0.13 Ord 192,961,911 Ord 75.39 Ord 0.11 Ord
members – R104 728 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
1.11 Risk and IT 99.91 0.09 99.87 Ord 0.13 Ord 192,961,911 Ord 75.39 Ord 0.11 Ord
committee members - 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
R130 896
1.12 Risk and IT 99.84 0.16 99.76 Ord 0.24 Ord 192,961,911 Ord 75.39 Ord 0.11 Ord
committee - IT specialist 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
- R295 476
Special resolution 2 – 99.49 0.51 99.24 Ord 0.76 Ord 188,000,427 Ord 73.45 Ord 0.11 Ord
General authority to 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
repurchase shares
Special resolution 3 - 99.11 0.89 98.68 Ord 1.32 Ord 192,963,725 Ord 75.39 Ord 0.11 Ord
Financial assistance to 100.00 B Ord 0.00 B Ord 7,689,090 B Ord 100 B Ord 0 B Ord
related or inter-related
companies
* The total issued share capital as at the AGM voting record date was 255,945,150 ordinary shares and 7,689,290 B-ordinary shares
** Ahead of the AGM, the Group sent communication to 25 shareholders representing approximately 55% of its issued ordinary shares
for purposes of engaging generally on the resolutions proposed at the AGM and particularly on the Group’s remuneration policy and
remuneration implementation report. Through this process, the Group actively engaged with 15 of these shareholders. Mr Price Group
is disappointed at the overall result of the voting on these resolutions, particularly given the adjustments made to the remuneration
policy and remuneration implementation report over the past few years and the new long-term incentive plan that was implemented
during 2020.
The Group strives to apply its remuneration philosophy of “partnership” consistently and appropriately and the Group will continue its
efforts to engage with shareholders to understand more fully the concerns around the remuneration policy and implementation thereof.
Accordingly, shareholders are invited to advise the Group of their reasons for their dissenting votes on the remuneration policy and/or
the implementation thereof, and whether they wish to engage with the Group on these issues. Correspondence in this regard should be
addressed by email to the Head of Investor Relations, Matt Warriner (kbezuidenhout@mrpg.com), by 30 September 2021. Thereafter
the date and time of requested engagements will be scheduled with shareholders individually.
Change in director responsibility
Shareholders are advised that Lucia Swartz, who joined the Mr Price Group board of directors in August 2020 as an independent non-
executive director, has been appointed as a member of Social, Ethics, Transformation and Sustainability committee with effect from 26
August 2021.
Durban
26 August 2021
JSE Equity Sponsor and Corporate Broker
Investec Bank Limited
Date: 26-08-2021 07:05:00
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