Barloworld Unveils Strategic Moves: AGM Highlights, Board Shifts, and Sustainable Growth Momentum

arloworld Limited, a leading South African company, has released important updates in its latest communication to shareholders. The announcement covers the availability of the Integrated Annual Report, details about the upcoming Annual General Meeting (AGM), changes to the board, and progress on sustainability-linked debt securities.

Notice of Annual General Meeting (AGM)

The company has announced that its hundred and seventh AGM will be held virtually on 16 February 2024, starting at 09:00. Shareholders interested in participating or voting electronically at the AGM must complete the electronic participation application form available in the AGM Booklet. The Notice of AGM is accessible on the company’s website

, and printed copies can be requested by emailing bawir@barloworld.com.

Salient Dates for the AGM

Record date for notice of AGM	1 December 2023
AGM Booklet distribution	12 December 2023
Last day to trade	6 February 2024
Record date for AGM attendance	9 February 2024
Proxy forms due	14 February 2024, by 09:00
AGM date and time	16 February 2024, at 09:00
Results announcement on SENS	16 February 2024

Changes to the Board

Ms Hester Hickey will not seek re-election at the upcoming AGM on 16 February 2024 and will retire from the Board on the same date. Following her retirement, Mr Vuyisa Nkonyeni will assume the role of chairman of the audit committee. The Board expresses gratitude to Ms Hickey for her contributions to the company over the years.

Resignation of Head of Investor Relations

The Head of Investor Relations, Ms Nwabisa Piki, has resigned, effective 31 December 2023. The board and management extend their thanks to Ms Piki for her leadership. A replacement for the position will be announced in due course.

Progress on Sustainability-linked Debt Securities

Holders of Barloworld’s sustainability-linked debt securities are informed of the company’s progress in achieving key performance indicators (KPIs) against baseline/benchmark targets, verified by independent external reviewers.

Debt Securities and KPIs

BAW37:

KPI	Condition	Metric	Baseline (As at 30 Sep 2021)	Realized Value (SPT 1)
Stepdown Margin	LTIFR Condition	LTIFR (per 200,000 hours)	0.37 ≤ 0.35 (6% improvement)	0.17 (2 bps)
Solar Power Condition	MWh	1,398 ≥ 1,680 (20% improvement)	2,136 (3 bps)

BAW38:

KPI	Condition	Metric	Baseline (As at 30 Sep 2021)	Realized Value (SPT 1)
Stepdown Margin	LTIFR Condition	LTIFR (per 200,000 hours)	0.37 ≤ 0.35 (6% improvement)	0.17 (2 bps)
Solar Power Condition	MWh	1,398 ≥ 1,680 (20% improvement)	2,136 (3 bps)

BAWGL1 and BAWGL2:

KPI	Unit of Measurement	Baseline GPTL 1 (Sep 2023)	Realized Value GPTL	Applicable Margin Adjustment
% Female representation in Leadership	Percentage (%)	44.9%	47.5% (2.6% improvement)	Achieved -2 bps
Discretionary Spend procurement from black women-owned suppliers as a % of total measured discretionary procurement spend	Percentage (%)	13.8%	14.4% (0.6% improvement)	Achieved -1 bps
Total Margin Adjustment	-3 bps

The reporting criteria and independent reviewer(s) reports for these Debt Securities’ KPIs are available on the company’s website.