Stimulus Investments Limited (NSX Share code: SILP) has recently released an official announcement regarding its upcoming 17th Annual General Meeting of Shareholders. The meeting is scheduled to take place on Wednesday, August 16, 2023, at the prestigious Ashburton Investment Managers (Pty) Ltd Boardroom, located at @Parkside, 130 Independence Avenue, c/o Fidel Castro, Windhoek.
Shareholders and investors eagerly await this important event, which will provide an opportunity to review and discuss the company’s performance, elect new directors, and address other vital matters. The Annual General Meeting is an essential platform for stakeholders to voice their opinions, make informed decisions, and shape the future of Stimulus Investments Limited.
The agenda for the 17th Annual General Meeting includes crucial topics that will be presented and deliberated upon by the attendees. Among the items on the agenda are the adoption of the Annual Financial Statements for the year ended February 28, 2023, which encompasses the Directors’ Report and the Report of the Auditors. Shareholders will have the opportunity to examine the financial performance of the company and gain insight into its achievements, challenges, and future prospects.
Additionally, the meeting will address the determination of directors’ remuneration, where the compensation for the services rendered by the board members during the past year will be discussed and decided upon. This item highlights the commitment of Stimulus Investments Limited to fair and transparent governance practices.
A significant aspect of the Annual General Meeting is the election of directors. Shareholders will have the opportunity to vote for candidates who will fill the positions left vacant by retiring directors. The term of office and the manner of retirement will be determined according to Article 82 of the Company’s Articles of Association. Notably, Mrs. Monica Geingos and Mr. Josephat Mwatotele, both eligible for re-election, have expressed their willingness to continue their service. Furthermore, shareholders may nominate other individuals for the directorship, provided that the nomination is submitted in writing, signed by two or more members holding at least ten percent of the company’s issued capital, and countersigned by the nominee.
The Annual General Meeting will also address the authorization of auditors’ remuneration for the past year. Shareholders will grant the directors the authority to determine the compensation for the auditors’ services, ensuring a fair and unbiased assessment of their work.
In addition, the confirmation of the re-appointment of PricewaterhouseCoopers as the auditors of Stimulus Investments Limited will be put to vote. The company’s commitment to maintaining high standards of financial reporting and transparency is evident in this re-appointment.
Another crucial item on the agenda is the discussion on un-issued share capital. A resolution will be proposed to place the un-issued share capital under the control of the directors. This decision will have significant implications for the future strategic direction and expansion plans of Stimulus Investments Limited.
The meeting will conclude with an opportunity to transact any other business that is eligible for discussion and decision at an Annual General Meeting. This provision allows shareholders to raise pertinent matters or propose initiatives that may benefit the company and its stakeholders.
Shareholders who are unable to attend the meeting in person are encouraged to appoint a proxy to represent them. The proxy will have the authority to attend, speak, and vote on behalf of the absent shareholder. A proxy form is available and must be submitted to the company’s registered office at least forty-eight hours before the meeting.
