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CA Sales Holdings AGM: Strong Support, 99.93% Auditor Approval, Special Resolutions Pass | Rateweb
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CA Sales Holdings AGM: Strong Support, 99.93% Auditor Approval, Special Resolutions Pass

CA Sales Holdings Limited (JSE: CAA, BSE: CAS-EQO) reported the results of its Annual General Meeting (AGM) today. Shareholders approved all resolutions, except one which was withdrawn.

Strong Support for Board Re-elections

The AGM saw high approval rates for director re-elections. Notably, Mr. B Patel received 99.49% approval, while Ms. S Moakofi had near-unanimous support with 99.99%.

ResolutionVotes ForVotes AgainstShares Voted% of Shares IssuedAbstained %
Re-elect Mr. B Patel99.49%0.51%423,186,80288.65%0.09%
Re-elect Ms. S Moakofi99.99%0.01%423,186,80288.65%0.09%
Re-elect Mr. B Marole100.00%0.00%423,186,80288.65%0.09%

Audit and Risk Committee Reappointments

Members of the audit and risk committee also received substantial support. Mr. L Cronje and Ms. B Mathews were reappointed unanimously.

ResolutionVotes ForVotes AgainstShares Voted% of Shares IssuedAbstained %
Reappoint Mr. L Cronje100.00%0.00%423,186,80288.65%0.09%
Reappoint Ms. B Mathews100.00%0.00%423,186,80288.65%0.09%
Reappoint Mr. B Patel99.19%0.81%423,186,80288.65%0.09%
Reappoint Mr. F Britz82.52%17.48%404,087,93184.64%4.09%

Approval of Deloitte & Touche as Auditor

Deloitte & Touche was reappointed as the company auditor with overwhelming support. 99.93% of shareholders voted in favor.

ResolutionVotes ForVotes AgainstShares Voted% of Shares IssuedAbstained %
Reappoint Deloitte & Touche99.93%0.07%423,186,80288.65%0.09%

Remuneration Policy and Implementation Report

Shareholders provided a strong endorsement of the remuneration policy and its implementation report. The remuneration policy received 82.61% approval, while the implementation report was backed by 99.67%.

ResolutionVotes ForVotes AgainstShares Voted% of Shares IssuedAbstained %
Non-binding vote on remuneration policy82.61%17.39%423,039,20588.61%0.12%
Non-binding vote on implementation report99.67%0.33%423,186,80288.65%0.09%

Withdrawal of Special Resolution

Special resolution number 1, regarding the general authority to issue ordinary shares for cash, was withdrawn. The reason for the withdrawal was not disclosed.

Other Special Resolutions Passed

All other special resolutions were approved with substantial majorities. The remuneration of non-executive directors received 99.99% support.

Special ResolutionVotes ForVotes AgainstShares Voted% of Shares IssuedAbstained %
Remuneration of non-executive directors99.99%0.01%423,181,22788.64%0.09%
Inter-company financial assistance100.00%0.00%421,050,43388.20%0.54%
Financial assistance for share transactions97.85%2.15%421,044,85888.20%0.54%
Share repurchases by the company100.00%0.00%423,186,80288.65%0.09%

Voting Turnout

The voting turnout was high, with 88.65% of shares in issue being voted. This reflects strong shareholder engagement.

Summary

The AGM results indicate robust shareholder support for CA Sales Holdings’ leadership and governance. The re-election of directors and reappointment of audit committee members highlight confidence in the company’s direction.

CA Sales Holdings continues to maintain strong corporate governance practices. This is reflected in the overwhelming support for most resolutions.