Curro Holdings Triumphs in 2023 AGM, Chairperson Announces Retirement, Dissenting Votes Spark Engagement

Curro Holdings 2023 AGM
  • Curro Holdings reports successful 2023 AGM with all resolutions passed by shareholders.
  • Chairperson, Ms. Santie Botha, intends to retire after the next annual general meeting in 2024.
  • Dissenting votes received for non-binding advisory votes on Curro’s remuneration policy and implementation report. Company to engage with dissenting shareholders.

Curro Holdings Limited (JSE: COH) conducted its Annual General Meeting (AGM) yesterday, presenting positive outcomes and disclosing the Chairperson’s intended retirement in 2024. The AGM, held entirely through electronic communication, achieved unanimous support from the Company’s shareholders for all proposed resolutions.

During the AGM, shareholders expressed their overwhelming endorsement for the appointment and re-election of key directors. Mrs. Mari Lategan secured a resounding confirmation as a director with a 96.99% vote in favor. Likewise, Mr. Burthryne Craig September, Mr. Thembalihle Phillip Baloyi, Ms. Zandile Nangamso Mankai, and Mr. Douglas Maitakhole Ramaphosa were all re-elected as directors with substantial support ranging from 99.95% to 99.97%.

Furthermore, shareholders displayed confidence in the audit and risk committee, as Ms. Nan Mankai, Mr. Themba Baloyi, and Mr. Douglas Ramaphosa were re-appointed as members of the committee with significant backing, receiving approval rates ranging from 99.97% to 99.98%.

PwC Inc. retained its position as the auditor for Curro Holdings, with 97.12% of shareholders supporting the reappointment.

However, ordinary resolutions number 11 and number 12, relating to the non-binding advisory votes on the Company’s remuneration policy and its implementation report, encountered dissent. Over 25% of the votes cast by shareholders opposed these resolutions. Curro Holdings intends to engage with these dissenting shareholders and will announce the details of the engagement in due course.

Curro Holdings made available the Chief Executive Officer’s presentation from the AGM on its official website for stakeholders to access and review.

In a separate announcement, Curro Holdings informed its shareholders about the planned retirement of Ms. Santie Botha, the independent non-executive director and Chairperson of the Company’s board. Ms. Botha, who has served on the Board for approximately 11 years, conveyed her intention to retire after the next annual general meeting, anticipated to take place in June 2024. The Company will inform shareholders of the exact date of Ms. Botha’s retirement once it has been finalized. Curro Holdings now has ample time to seek and appoint a suitable successor, and shareholders will be promptly updated once a candidate is identified and appointed.

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