MTN Group’s AGM Garners Strong Shareholder Support, Reinforcing Confidence in Company’s Growth Strategy

MTN Group Limited Notes
  • MTN Group’s 28th Annual General Meeting (AGM) successfully concludes with strong shareholder support.
  • All key resolutions, including re-election of directors and appointment of committee members, receive significant approval.
  • Shareholders demonstrate confidence in MTN’s governance and strategic direction, reflecting the company’s commitment to delivering value and driving sustainable growth.

MTN Group Limited announced the successful outcome of its 28th Annual General Meeting (AGM) held on May 26, 2023. The meeting, which took place virtually and in person, saw a significant number of shareholders casting their votes on various resolutions.

With a total of 1,559,981,547 shares present and represented, accounting for 82.79% of MTN’s issued share capital, shareholders showed their active participation in the decision-making process. The AGM’s agenda included several ordinary and special resolutions, as outlined in the notice of AGM dated April 26, 2023.

The voting results revealed strong shareholder support, with all resolutions being approved by a significant majority. The breakdown of the voting results for the key resolutions is as follows:

  1. Re-election of Directors:
    • NP Gosa: 99.74% in favor, 0.26% against
    • CWN Molope: 95.76% in favor, 4.24% against
    • RT Mupita: 99.15% in favor, 0.85% against
    • T Pennington: 100% in favor, 0% against
    • N Newton-King: 100% in favor, 0% against
  2. Appointment of Audit Committee Members:
    • SN Mabaso-Koyana: 98.23% in favor, 1.77% against
    • CWN Molope: 97.35% in favor, 2.65% against
    • NP Gosa: 99.50% in favor, 0.50% against
    • VM Rague: 98.83% in favor, 1.17% against
    • T Pennington: 100% in favor, 0% against
  3. Appointment of Social, Ethics and Sustainability Committee Members:
    • SLA Sanusi: 99.99% in favor, 0.01% against
    • SP Miller: 99.51% in favor, 0.49% against
    • NL Sowazi: 98.90% in favor, 1.10% against
    • KDK Mokhele: 99.24% in favor, 0.76% against
    • N Newton-King: 100% in favor, 0% against

Other resolutions, including the re-appointment of Ernst & Young Inc. as the company’s auditor, received overwhelming shareholder support, with approval percentages ranging from 94.14% to 100%.

MTN Group expressed its satisfaction with the outcome of the AGM and thanked its shareholders for their active participation and support in shaping the company’s governance and strategic direction. The positive voting results reflect the confidence and trust that shareholders have in the board of directors and the management team.

The AGM marks an important milestone for MTN Group as it continues to strengthen its position in the telecommunications industry. The company remains committed to delivering value to its shareholders and driving sustainable growth in the evolving digital landscape.

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