CAPITEC ANNUAL GENERAL MEETING
A toast to ‘Viceroy and bitters’ absence at Capitec AGM
Fear that representatives from Viceroy Research would arrive to ask questions at Capitec’s annual general meeting on Friday proved unfounded, as again the meeting ended without input from shareholders or analysts. But shareholders expressed their strong support for management by overwhelmingly supporting all resolutions. The only resolution that received less than 90% backing was the re-election of long-serving non-executive director Chris Otto, which garnered support from 86% of shareholders. Concern about executive remuneration and reappointment of auditors — evident in voting in previous years — seems to have been resolved. Resolutions on remuneration got support above 95%, while the reappointment of PwC as external auditors was backed by 94.9% of shareholders. The Capitec share price closed 4.77% up on Friday, at R873.50. Chairman Riaan Stassen later invited the hundreds of shareholders to "a glass of wine, or Viceroy and bitters" referring to the research and trading company th...
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