KAL Group Limited, formerly known as Kaap Agri Limited, celebrated a triumph at its Annual General Meeting (AGM) held on Thursday, February 8, 2024, at the Grande Roche Hotel in Paarl. Shareholders convened to vote on various resolutions, and the outcomes reflected overwhelming support for the company’s proposed measures.
Unanimous Approval of Resolutions
Shareholders demonstrated their confidence in the company by approving all resolutions proposed at the AGM. This display of unity underscores the shareholders’ belief in KAL Group’s strategic direction and leadership.
The following table provides a summary of the resolutions and their respective voting results:
| Resolution | Votes For (%) | Votes Against (%) | Total Shares Voted | Abstained (%) |
|---|---|---|---|---|
| Appointment of Deloitte as the Auditor | 97.12 | 2.88 | 37,058,067 | 0.03 |
| Re-election of Dr. EA Messina as Director | 99.96 | 0.04 | 37,058,067 | 0.03 |
| Re-election of Mr. GM Steyn as Director | 92.62 | 7.38 | 37,064,245 | 0.02 |
| Re-election of Mr. I Chalumbira as Director | 100 | 0.00 | 37,058,067 | 0.03 |
| Re-appointment of Mr. CA Otto as Member of Audit and Risk Committee | 91.83 | 8.17 | 37,064,245 | 0.02 |
| Re-appointment of Mrs. D du Toit as Member of Audit and Risk Committee | 98.34 | 1.66 | 37,058,067 | 0.03 |
| Re-appointment of Ms. B Mathews as Member of Audit and Risk Committee | 100 | 0.00 | 37,058,067 | 0.03 |
| Appointment of Mr. JH le Roux as a Member of Audit and Risk Committee | 93.53 | 6.47 | 37,064,245 | 0.02 |
| Non-binding endorsement of KAL Group’s remuneration policy | 88.31 | 11.69 | 37,040,461 | 0.05 |
| Non-binding endorsement of KAL Group’s implementation report on the remuneration policy | 91.47 | 8.53 | 37,058,067 | 0.03 |
| General authority to issue ordinary shares for cash | 93.43 | 6.57 | 34,949,142 | 2.87 |
| Approval of non-executive directors’ remuneration | 98.33 | 1.67 | 37,057,586 | 0.03 |
| Share repurchases by the Company and its subsidiaries | 98.78 | 1.22 | 37,058,067 | 0.03 |
| Inter-company financial assistance | 100 | 0.00 | 37,058,067 | 0.03 |
| Financial assistance for the subscription and/or purchase of shares in the Company or a related or interrelated company | 95.97 | 4.03 | 37,057,586 | 0.03 |
Conclusion
The resounding endorsement of all resolutions at KAL Group Limited’s AGM signals a unified vision among shareholders and underscores the company’s commitment to excellence. With a clear mandate from its investors, KAL Group is poised to navigate the future with confidence and drive sustained growth and success in the [industry] sector.
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