A E C I LIMITED - Report on proceedings at the Annual General Meeting

Report on proceedings at the Annual General Meeting

AECI LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1924/002590/06)
Share code: AFE ISIN: ZAE000000220
Hybrid code: AFEP ISIN: ZAE000000238
Bond company code: AECI
LEI: 3789008641F1D3D90E85
(AECI or the Company)

REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING

At the 99th Annual General Meeting (AGM) of the shareholders of AECI held on 30 May 2023, all the ordinary
and special resolutions proposed at the meeting were approved by the requisite majority of votes. In this
regard, AECI confirms the voting statistics from the AGM as follows:


Resolutions                       Votes cast disclosed as a   Number of         Shares voted     Shares
                                  percentage in relation to   ordinary shares   disclosed as     abstained
                                  the total number of         voted             a percentage     disclosed as a
                                  ordinary shares voted at                      in relation to   percentage in
                                  the meeting                                   the total        relation to the
                                                                                issued           total issued
                                                                                ordinary         ordinary
                                                                                shares*          shares*

                                  For (%)      Against (%)
Ordinary resolution No. 1:        96,87        3,13           88 649 323        84,01            0,18
Reappointment of
independent auditor and
appointment of designated
individual audit partner

Ordinary resolution No. 2.1:      100,00       0,00           88 650 277        84,01            0,18
Re-election of Non-executive
Director –
Ms FFT Dludlu (De Buck)

Ordinary resolution No. 2.2:      100,00       0,00           88 650 277        84,01            0,18
Re-election of Non-executive
Director –
Ms AM Roets

Ordinary resolution No. 2.3:      98,82        1,18           88 598 733        83,97            0,23
Re-election of Non-executive
Director –
Ms PG Sibiya

Ordinary resolution No. 3:        100,00       0,00           88 650 277        84,01            0,18
Election of Mr ST Coetzer as a
Non-executive Director

Ordinary resolution No. 4:        71,81        28,19          88 648 677        84,01            0,18
Re-election of Mr KM Kathan
as an Executive Director

Ordinary resolution No. 5:        99,74        0,26           88 650 277        84,01            0,18
Election of Mr H
Riemensperger as an
Executive Director

Ordinary resolution No. 6.1:      99,00        1,00           88 587 892        83,96            0,24
Election of Audit Committee
member –
Ms PG Sibiya

Ordinary resolution No. 6.2:      100,00       0,00           88 650 277        84,01            0,18
Election of Audit Committee
member –
Ms AM Roets

Ordinary resolution No. 6.3:      100,00       0,00           88 650 277        84,01            0,18
Election of Audit Committee
member –
Ms FFT Dludlu (De Buck)

Ordinary resolution No.           93,36        6,64           88 648 677        84,01            0,18
7.1: Non-binding advisory
vote on the Company’s
Remuneration Policy

Ordinary resolution No.           83,14        16,86          88 648 677        84,01            0,18
7.2: Non-binding advisory
vote on the Implementation
of the Company’s
Remuneration Policy

Special resolution No. 1.1:       96,83        3,17           88 648 677        84,01            0,18
Directors’ fees - Board:
Chairman

Special resolution No. 1.2:       99,96        0,04           88 648 677        84,01            0,18
Directors’ fees - Board: Non-
executive Director

Special resolution No. 1.3:       99,96        0,04           88 648 677        84,01            0,18
Directors’ fees - Audit
Committee: Chairman

Special resolution No. 1.4:       99,96        0,04           88 648 677        84,01            0,18
Directors’ fees - Other Board
Committees: Chairman

Special resolution No. 1.5:       99,96        0,04           88 648 677        84,01            0,18
Directors’ fees - Audit
Committee: Member

Special resolution No. 1.6:       99,96        0,04           88 648 677        84,01            0,18
Directors’ fees - Other Board
Committees: Member

Special resolution No. 1.7:       99,71        0,29           88 648 677        84,01            0,18
Directors’ fees - Meeting
attendance fee (includes ad
hoc meetings)

Special resolution No. 1.8:       99,96        0,04           88 650 227        84,01            0,18
Directors’ fees - Per-trip
allowance

Special resolution No. 2:         82,27        17,73          88 569 765        83,94            0,26
General authority to
repurchase shares

Special resolution No. 3:         99,98        0,02           88 649 323        84,01            0,18
Financial assistance to related
or inter-related company

* The issued ordinary share capital is 105 517 780 listed ordinary shares and 3 000 000 listed cumulative
preference shares.

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

Woodmead, Sandton

31 May 2023

Equity and Debt Sponsor:
Rand Merchant Bank (A division of FirstRand Bank Limited)

Date: 31-05-2023 01:00:00
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.