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AFROCENTRIC INVESTMENT CORPORATION LIMITED - Results of AGM

08 November 2019 - 07:26 AM
ACT
Results of AGM

AfroCentric Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1988/000570/06)
JSE Code: ACT ISIN: ZAE000078416
(AfroCentric or the Company or the Group)


    RESULTS OF ANNUAL GENERAL MEETING (AGM)


Results of the AGM

Shareholders are advised that at the annual general meeting held on Thursday, 7 November 2019, all resolutions
as set out in the notice of the AGM which was incorporated in the 2019 Integrated Annual Report and distributed
to shareholders on 7 October 2019, were duly approved by the requisite majority of shareholders present and
voting, either in person or represented by proxy.

Shareholders are advised that:

-         the total number of shares in issue as at the date of the AGM was 574 241 248;
-         the total number of shares that were present in person/represented by proxy at the AGM was 419 398 760
          shares being 73% of the total number of shares in issue; and
-         Abstentions are represented below as a percentage of total number of shares in issue.

Details of the results of the voting are as follows:


    RESOLUTION                                            Shares voted       Shares voted         Shares
                                                              for              against           abstained

    Ordinary Resolutions


    Ordinary resolution number 1:
    Election of directors


    1.1 Professor SA Zinn                                  419 334 296          1 000              63 464
                                                              100%              0.00%              0.01%


    1.2 Mr JB Fernandes                                    419 302 796          1 000              94 964
                                                              100%              0.00%              0.02%



    1.3 Mr SE Mmakau                                       419 228 214          75 582             94 964
                                                             99.98%             0.02%              0.02%


    1.4 Mr T Alsworth-Elvey                                401 340 523        17 963 273           94 964
                                                             95.72%             4.28%              0.02%
  
    1.5 Mr G Allen                                        401 483 705         17 820 091           94 964
                                                             95.75%             4.25%               0.02%


Ordinary resolution number 2:
Re-election of Directors


                                                     401 469 123   17 834 673   94 964
2.1 Dr NM Munisi                                       95.75%        4.25%      0.02%


                                                     419 288 214    15 852      94 964
                                                        100%        0.00%       0.02%
2.2 Ms LL Dhlamini



                                                          -            -           -
2.3 Withdrawn

Ordinary resolution number 3:
Appointment of Group Audit and Risk Committee


3.1 Ms LL Dhlamini (Chair)                           419 288 214    15 582      94 964
                                                      100.00%       0.00%

3.2 Withdrawn                                             -            -           -


3.3 Mr JB Fernandes                                  419 302 796     1 000      94 964
                                                      100.00%        0.00%      0.02%


Ordinary resolution number 4:                        409 562 859   9 740 937    94 964
Re-appointment of independent external auditor         97.68%        2.32%      0.02%


Ordinary resolution number 5:                        401 331 220   18 004 076   63 464
General authority to issue shares for cash             97.56%        2.44%      0.01%


Ordinary resolution number 6:                        406 277 112   13 026 684   94 964
Approval of the remuneration policy                    96.89%        3.11%      0.02%


Ordinary resolution number 7:                        406 277 112   13 026 684   94 964
Approval of the remuneration implementation report     96.89%        3.11%      0.02%


Ordinary resolution number 8:                        419 260 524    32 500      105 736
Authorise directors and/or company secretary           99.99%       0.01%        0.02%


Special Resolutions
                                                          Shares voted      Shares voted          Shares
                                                              for             against            abstained


 Special resolution number 1:                             417 116 823         2 218 473            63 464
 Approval of non-executive directors remuneration          99.47%              0.53%              0.01%


 Special resolution number 2:                             419 117 342          175 682             63 464
 General authority to repurchase shares                     99.96%              0.04%              0.01%


 Special resolution number 3:                             419 042 760          292 536             63 464
 Financial assistance to related or Inter-related           99.93%              0.07%              0.01%
 company or companies


 Special resolution number 4:                             419 102 760          232 536             63 464
 Financial assistance for subscription of securities to     99.94%              0.06%              0.01%
 related or Inter-related companies



Approval for publication of Annual Financial Statements

Shareholders are referred to page 3 of the 2019 Integrated Annual Report (the Report) and advised that the
date of approval of release of the Report was incorrectly stated as 12 September 2019. The correct date of
approval of release of the Report was 13 September 2019.

Johannesburg
8 November 2019


Sponsor
Sasfin Capital   (a member of the Sasfin group)

Date: 08/11/2019 08:26:00
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