Clicks Group Limited has disclosed the outcomes of its annual general meeting held on February 1, 2024. Shareholders gathered to deliberate on various resolutions crucial to the company’s operations and governance.
Financial Performance and Governance
The meeting commenced with the adoption of financial statements, with an overwhelming 99.99% of shareholders voting in favor. This robust support indicates confidence in Clicks Group’s financial health and transparency.
Furthermore, shareholders endorsed the appointment of the auditor, with 99.36% in favor, solidifying the commitment to sound financial oversight. The re-election and election of directors also garnered significant support, reflecting shareholders’ trust in the leadership team.
Remuneration Policy and Implementation
Key resolutions regarding the company’s remuneration policies were also addressed. The approval of the company’s remuneration policy received substantial backing, with 95.10% of shareholders in favor. Additionally, the endorsement of the company’s remuneration implementation report highlights stakeholders’ satisfaction with Clicks Group’s compensation practices.
Strategic Decisions
Special resolutions pertaining to share repurchases and financial assistance were approved with resounding support, further indicating shareholders’ alignment with Clicks Group’s strategic direction.
| Resolution No. | Description | Votes For | Votes Against | Votes Abstained | Total Votes |
|---|---|---|---|---|---|
| 1 | Adoption of Financial Statements | 179,976,924 | 23,354 | 1,371,218 | 179,976,924 |
| 2 | Appointment of Auditor | 181,244,445 | 1,159,735 | 103,697 | 181,244,445 |
| 3 | Re-election of Bertina Engelbrecht as Director | 181,244,445 | 1,804,137 | 103,697 | 181,244,445 |
| 4 | Election of Richard Inskip as Director | 181,244,445 | 260,229 | 103,697 | 181,244,445 |
| 5 | Re-election of Mfudiso Njeke as Director | 181,244,443 | 9,250,202 | 103,699 | 181,244,443 |
| 6 | Election of Kandimathie Christine Ramon as Director | 181,240,095 | 646,529 | 108,047 | 181,240,095 |
| 7 | Election of Members of Audit and Risk Committee | ||||
| 8 | Approval of Company’s Remuneration Policy | 180,245,971 | 8,829,792 | 1,102,171 | 180,245,971 |
| 9 | Endorsement of Company’s Remuneration Implementation | 181,240,095 | 11,695,512 | 108,047 | 181,240,095 |
| 10 | General Authority to Repurchase Shares | 180,871,126 | 329,721 | 477,016 | 180,871,126 |
| 11 | Approval of Directors’ Fees | 181,233,093 | 535,395 | 115,049 | 181,233,093 |
| 12 | General Approval to Provide Financial Assistance | 181,244,445 | 331,577 | 103,697 | 181,244,445 |
Change to the Board
In addition to the resolutions, Clicks Group announced changes to its board composition. John Bester retired as an independent non-executive director effective February 1, 2024. Mfundiso (JJ) Njeke was appointed as the lead independent director for the upcoming year, reinforcing the company’s commitment to strong governance and leadership continuity.
Conclusion
The overwhelming support for resolutions and the strategic decisions made at Clicks Group’s annual general meeting underscored shareholders’ confidence in the company’s trajectory. With robust governance practices and a clear strategic direction, Clicks Group remains poised for continued success in the market.
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