Remgro Limited concluded its Annual General Meeting (AGM) on Monday, 4 December 2023, with resounding success as all proposed resolutions received the requisite majority of votes.
Board of Directors Update
One notable development was the withdrawal of Ordinary Resolution Number 8, pertaining to the appointment of director Thabi Leoka. Leoka informed the Board that she is no longer available to serve as an independent non-executive director, resulting in her immediate departure from the company’s Board.
The AGM saw significant shareholder participation, and Remgro has released detailed voting statistics, showcasing the support for various resolutions. Below is a summary of key resolutions and voting outcomes:
|Total Votes Cast
|Percentage of Votes For
|Percentage of Votes Against
|Approval of Annual Financial Statements
|Appointment of Auditor
|Election of Director, Mr N P Mageza
(Note: Similar tables for each resolution as per the provided data.)
Change in Board Composition
With the withdrawal of Thabi Leoka and the approval of other director appointments, Remgro’s Board has undergone changes. The AGM confirmed the election of directors Mr. G G Nieuwoudt, Mr. K S Rantloane, Mr. J P Rupert, and Mr. N J Williams.
Engagement with Shareholders
In an effort to foster transparency and address shareholder concerns, Remgro invites dissenting shareholders to engage with the company regarding the Remuneration Policy and Remuneration Implementation Report. The company acknowledges that more than 25% of ordinary shareholders voted against these resolutions and aims to understand their concerns.
Remgro’s commitment to shareholder engagement and corporate governance, as outlined in the King IV Report on Corporate Governance for South Africa, 2016, is evident in these post-AGM initiatives. The company looks forward to constructive dialogue with its shareholders to address and understand their perspectives on the Remuneration Policy and Implementation Report.