ADvTECH Limited
(Incorporated in the Republic of South Africa)
(Registration number 1990/001119/06)
Share code: ADH ISIN: ZAE000031035
(“ADvTECH” or “the Company”)
In terms of section 3.94 of the JSE Listings Requirements, shareholders are hereby advised that at the annual general meeting (“AGM”) of shareholders of the Company held today, Wednesday 5 June 2024 all the proposed ordinary and special resolutions, as set out in the notice of annual general meeting contained in the Integrated Annual Report, were approved by the requisite majority of shareholders present or represented by proxy.
Details of the results of voting at the annual general meeting are as follows:
Ordinary shares: | |
---|---|
Total number of issued ordinary shares: | 554 750 973 |
Total number of issued ordinary shares net of treasury shares: | 554 750 973 |
Total Votable Ordinary Shares | 554 750 973 |
The meeting was attended by shareholders representing 415 230 572 ADvTECH shares which amounted to 74.85% of the total ordinary issued share capital of ADvTECH, voting in person or by proxy.
The resolutions proposed at the AGM, together with the percentage of shares abstained (as a percentage of total issued share capital of the Company), as well as the percentage of votes carried for and against each resolution (as a percentage of shares voted), are as follows:
1. Ordinary resolution number 1: Adoption of annual financial statements
FOR | AGAINST | ABSTAIN |
---|---|---|
414 659 392 | 0 | 571 180 |
100% | 0.00% | 0.10% |
2. Ordinary resolution number 2: Confirmation of appointment of GD Whyte
FOR | AGAINST | ABSTAIN |
---|---|---|
414 673 696 | 0 | 556 876 |
100% | 0.00% | 0.10% |
3. Ordinary resolution number 3: Re-election of SS Lazar
FOR | AGAINST | ABSTAIN |
---|---|---|
414 673 696 | 0 | 556 876 |
100% | 0.00% | 0.10% |
4. Ordinary resolution number 4: Re-election of JS Chimhanzi
FOR | AGAINST | ABSTAIN |
---|---|---|
414 673 696 | 0 | 556 876 |
100% | 0.00% | 0.10% |
5. Ordinary resolution number 5: Re-election of KDM Warburton
FOR | AGAINST | ABSTAIN |
---|---|---|
414 642 417 | 16 530 | 571 625 |
100% | 0.00% | 0.10% |
6. Ordinary resolution number 6: Re-election of KDM Warburton as member and chairman of the Audit and Risk Committee
FOR | AGAINST | ABSTAIN |
---|---|---|
414 642 417 | 16 530 | 571 625 |
100% | 0.00% | 0.10% |
7. Ordinary resolution number 7: Re-election of JS Chimhanzi as member of the Audit and Risk Committee
FOR | AGAINST | ABSTAIN |
---|---|---|
413 767 208 | 906 488 | 556 876 |
99.78% | 0.22% | 0.10% |
8. Ordinary resolution number 8: Re-election of CB Thomson as member of the Audit and Risk Committee
FOR | AGAINST | ABSTAIN |
---|---|---|
414 673 696 | 0 | 556 876 |
100% | 0.00% | 0.10% |
9. Ordinary resolution number 9: Appointment of external auditors
FOR | AGAINST | ABSTAIN |
---|---|---|
414 673 696 | 0 | 556 876 |
100% | 0.00% | 0.10% |
10. Ordinary resolution number 10: Signature of documents
FOR | AGAINST | ABSTAIN |
---|---|---|
414 673 696 | 0 | 556 876 |
100% | 0.00% | 0.10% |
11. Non-binding advisory vote number 1 – Remuneration policy
FOR | AGAINST | ABSTAIN |
---|---|---|
410 516 873 | 4 142 074 | 571 625 |
99.00% | 1.00 % | 0.10% |
12. Non-binding advisory vote number 2 – Implementation report
FOR | AGAINST | ABSTAIN |
---|---|---|
412 157 577 | 2 508 370 | 564 625 |
99.40% | 0.60% | 0.10% |
13. Special resolution number 1: Approval of non-executive directors’ fees
FOR | AGAINST | ABSTAIN |
---|---|---|
414 673 696 | 0 | 556 876 |
100% | 0.00% | 0.10% |
14. Special resolution number 2: Authority to give loans or financial assistance to subsidiaries and related or inter-related companies
FOR | AGAINST | ABSTAIN |
---|---|---|
410 438 696 | 4 235 000 | 556 876 |
98.98% | 1.02% | 0.10% |
15. Special resolution number 3: General authority to acquire the company’s own shares
FOR | AGAINST | ABSTAIN |
---|---|---|
394 930 214 | 19 743 482 | 556 876 |
95.24% | 4.76% | 0.10% |
In a business update to shareholders at the AGM the Chairman indicated that enrolments for schools and tertiary are up 4% and 7% respectively compared to prior year, as reported in our year end results. This sets the Group up for another solid performance in the current financial year.
There have been no material changes since we published our enrolment numbers and the business continues to trade in line with expectations.
5 June 2024
Sandton
Sponsor: Bridge Capital Advisors Proprietary Limited