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JOHANNESBURG - AECI Limited, a South African chemical and explosives company, announced that its 101st Annual General Meeting (AGM), which took place on Tuesday, resulted in the approval of all proposed ordinary and special resolutions. The company confirmed the voting statistics from the AGM, indicating strong shareholder support for the management’s direction.
The resolutions included the re-appointment of the company’s independent external auditor, the re-election and election of several non-executive and executive directors, and the approval of various committee memberships. Notably, shareholders voted in favor of the re-election of non-executive directors Mr. WH Dissinger, Ms. FFT Dludlu (De Buck), Ms. AM Roets, and Ms. PG Sibiya, as well as the election of new non-executive directors such as Ms. NT Moholi, Mr. J Ndlovu, and Mr. B Mawasha.
Furthermore, the AGM saw the election of audit committee members and social, ethics, and sustainability committee members, with high approval rates for each nominee. Executive director Mr. H Riemensperger was also re-elected with a significant majority.
In terms of remuneration, non-binding advisory resolutions on the company’s remuneration policy and implementation report were passed, with 85.08% and 90.08% of votes cast in favor, respectively.
Special resolutions concerning directors’ fees for various board and committee roles were approved, including fees for the Board Chairperson, Non-Executive Director, and members of different committees. Additionally, the AGM granted directors the authority to implement these resolutions.
The company also received shareholder approval for the provision of financial assistance to related or inter-related companies, with 95.94% of votes cast in support.
The total number of shares voted was substantial, representing over 94% of AECI’s issued ordinary share capital. Abstentions were minimal, accounting for less than 0.25% in most cases.
The AGM results reflect shareholder confidence in AECI’s governance and strategic initiatives. The information provided is based on a press release statement from AECI Limited.
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