- Tradehold Limited shareholders overwhelmingly approve changing the company’s name to Collins Property Group Limited.
- More than 75% of voteable shares support the proposed name change, signaling strong shareholder endorsement.
- Finalization announcement to follow after registration with Companies and Intellectual Property Commission (CIPC).
Tradehold Limited (JSE Share code: TDH) announced that its shareholders have given their resounding approval for the proposed change of the company’s name to “Collins Property Group Limited.” The voting results, released following the closure of the voting period, indicate overwhelming support for the name change.
Tradehold, a leading company incorporated in the Republic of South Africa, had previously issued an announcement on the Stock Exchange News Service (SENS) on 13 April 2023, along with a circular distributed to shareholders, outlining the proposed change of name. The recent voting by written resolutions, which concluded on 24 May 2023, has determined the fate of this important decision.
The voting results reveal the level of participation and support from Tradehold shareholders. A breakdown of the shares eligible for voting shows that the total number of Ordinary Shares was 256,963,110 (261,346,570 ordinary shares less 4,383,460 treasury shares), while the number of N Preference Shares amounted to 108,243,720.
Of the total number of Tradehold shares eligible for voting, shareholders demonstrated their enthusiasm and engagement by actively participating in the process. The voting results indicate that 167,751,361 Ordinary Shares were voted, accounting for 65.28% of the total number of Tradehold Ordinary Shares eligible for voting. Moreover, all 108,243,720 N Preference Shares were voted, representing 100% of the total number of Tradehold N Preference Shares eligible for voting.
The voting results on the resolutions related to the proposed Change of Name for the Ordinary Shares were as follows:
- Special Resolution number 1: Change of Name
- Number of ordinary shares voted: 167,751,361
- Percentage of ordinary shares in issue: 64.19%
- Percentage of votes for: 100.00%
- Percentage of votes against: 0.00%
- Percentage of abstentions: 0.00%
- Ordinary Resolution number 1: Authority to implement Special Resolution number 1
- Number of ordinary shares voted: 167,751,361
- Percentage of ordinary shares in issue: 64.19%
- Percentage of votes for: 100.00%
- Percentage of votes against: 0.00%
- Percentage of abstentions: 0.00%
All 108,243,720 N Preference Shares voted in favor of all the resolutions.
With a significant majority of Tradehold shareholders supporting the proposed Change of Name, a total of 275,995,081 shares, representing 75.57% of the 365,206,830 voteable shares, have been cast in favor of passing all the special and ordinary resolutions. This substantial endorsement reflects the confidence and agreement of Tradehold shareholders regarding the strategic direction and future prospects of the company as Collins Property Group Limited.
