Stefanutti Stocks Releases Financial Statements and Sets AGM Date: Shareholders’ Meeting to Shape Future

  • Stefanutti Stocks Holdings Limited distributes summarised consolidated annual financial statements for the year ended February 2023 to shareholders.
  • The company's Annual General Meeting (AGM) is scheduled for August 4, 2023, to discuss the financial statements and other matters.
  • Shareholders are encouraged to submit votes by proxy and must be recorded in the securities' register by July 28, 2023, to attend and vote at the AGM.
Stefanutti Stocks

Stefanutti Stocks Holdings Limited (SSK) has released its summarised consolidated annual financial statements for the year ended 28 February 2023. Shareholders have been informed that the company’s Annual General Meeting (AGM) is scheduled to take place on Friday, 4 August 2023, providing an opportunity for stakeholders to review the company’s performance and participate in decision-making.

In a recent announcement, Stefanutti Stocks confirmed that the summarised consolidated annual financial statements, along with the notice of the AGM, were sent to shareholders on 28 June 2023. For easy accessibility, the company has made the complete Integrated Annual Report and consolidated annual financial statements available on its official website, Physical copies of these documents can also be obtained from the company’s registered office or by request through the company secretary.

Notably, the summarised consolidated annual financial statements do not deviate from the reviewed results published on 25 May 2023. The company’s auditors, Mazars, have conducted an audit of the financial statements and issued an unqualified report. Shareholders have the opportunity to review the auditors’ report, which is available for inspection at the company’s registered office and on the official website.

Stefanutti Stocks provided updates on recent business developments in the announcement. Shareholders were reminded that the disposal of SS Construções (Moçambique) Limitada, which was approved by shareholders on 22 November 2022, is subject to the fulfilment and/or waiver of certain conditions precedent. To allow for the completion of these conditions, the parties involved in the transaction have agreed to extend the deadline to 31 December 2023.

Furthermore, the company announced the successful negotiation of a settlement agreement regarding a terminated contract mining project. Stefanutti Stocks reached an agreement with the client on 27 June 2023, which entails the company receiving R20 million. Of this amount, R10 million will be paid by the end of February 2024, with the remaining balance due by April 2024. Interest will be charged on the outstanding capital from 27 June 2023 onwards.

The upcoming AGM will be conducted entirely through electronic communication, adhering to the provisions set forth in the company’s Memorandum of Incorporation and the Companies Act, 71 of 2008. Shareholders are strongly encouraged to submit votes by proxy prior to the meeting. To participate in the AGM, shareholders must instruct their Central Securities Depository Participant (CSDP) or broker to issue a letter of representation, as specified in their custody agreement. These instructions should be provided to the CSDP or broker within the time frame communicated by them.

For shareholders to attend, participate, and vote at the AGM, their names must be recorded in Stefanutti Stocks’ securities register by the record date, which is Friday, 28 July 2023. Consequently, the last trading day to qualify for attendance, participation, and voting at the AGM is Tuesday, 25 July 2023.

The AGM of Stefanutti Stocks is expected to be a significant event, offering shareholders an opportunity to engage with the company’s management, raise pertinent questions, and contribute to the decision-making process. The meeting will also serve as a platform for stakeholders to gain valuable insights into the company’s strategic direction and its plans for future growth.

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